Doubleview Capital Corp. drill results reveal
discovery of a strong copper-gold mineralized alkalic porphyry-type
deposit at its Sheslay area Hat Property. A drill hole returned
313.11 metres of 0.32% CuEq, including 61.08 metres of 0.52% CuEq
and 51.82 metres of 0.62% CuEq.
Doubleview Capital Corp. ("Doubleview") ("the
Company") (TSX-V: DBV) announces preliminary assay results
from the recently completed program of diamond drilling on the 3561
hectare Hat Property located near Sheslay in the Stikine Mining
District of northwest British Columbia. Of particular significance
are assays from drill hole H-8: 287.13 metres (942.02 ft) with
0.29% CuEq ("equivalent"), including 37.25 metres with 0.53% CuEq,
15.8 metres with 0.97% CuEq and 79.83 metres with 0.44% CuEq and
all of drill hole H-11 that starting from surface returned 313.11
metres (1027.3 ft) with 0.32% CuEq, including 61.08 metres with
0.52% CuEq (including 21.34 metres of 1.05 % CuEq), and 51.82
metres with 0.62% CuEq. Drill Holes H-8 and H-11 ended in Copper
Mineralization and on the basis of geological characteristics,
mineralization and size potential, Doubleview believes that the Hat
property qualifies as a "copper-gold alkalic porphyry"-type
deposit.
Doubleview holds an option to
acquire a 100% interest in the Hat Project, subject to a 2% net
smelter return royalty.
The Hat property is an early-stage
exploration project located in the emerging Stikine mining district
that includes the Red Chris operating copper-gold-silver mine and
the Copper Fox (Schaft Creek), Novagold (Galore Creek), and
Capstone (Kutcho) deposits. Other world-class mineral deposits in
northwest British Columbia include those of Pretium Resources Inc.
and Seabridge Gold Inc. The Northwest Transmission Line and Forrest
Kerr hydroelectric developments, both of which are currently under
construction, are bringing much needed infrastructure and robust
economic opportunities to that part of the province.
Drill hole details are included in the following
tabulation:
------------------------------------------------------------------
|Drill Hole|Easting|Northing|Direction|Dip |Length |# of Samples|
| |(m) NAD|(m) NAD | | | | |
| |83 |83 | | | | |
|----------------------------------------------------------------|
|H-7 |348105 |6454195 |Due South|-50°|230.7 m |77 |
| | | |(180° | | | |
| | | |az.) | | | |
|----------------------------------------------------------------|
|H-8 |348104 |6454196 |Westerly |-55°|404.4 m |150 |
| | | |(260° | | | |
| | | |az.) | | | |
|----------------------------------------------------------------|
|H-9 |348104 |6454196 |Easterly |-60°|300.8 m |47 |
| | | |(088° | | | |
| | | |az.) | | | |
|----------------------------------------------------------------|
|H-10* |348104 |6454196 |Easterly |-50°| 21.6 |7 |
| | | |(088° | |m | |
| | | |az.) | | | |
|----------------------------------------------------------------|
|H-11 |347850 |6454300 |Due South|-55°|319.1 m |108 |
| | | |(180° | | | |
| | | |az.) | | | |
|----------------------------------------------------------------|
| | | | | |1276.6 m|389 |
------------------------------------------------------------------
*H-10 - short hole to sample very broken ground in topmost part of
H-9.
Significant drill hole intercepts are presented in the
following tabulation:
---------------------------------------------------------------------
|DH-ID | |From (m)|To (m)|Length* |Cu (%)|Au |Ag |CuEq**|
| | | | |(m) | |(g/t)|(g/t)|(%) |
|-------------------------------------------------------------------|
|HAT-07| |72.13 |75.13 |3.00 |0.02 |0.77 |0.00 |0.44 |
|-------------------------------------------------------------------|
|HAT-07| |209.00 |213.00|4.00 |0.27 |0.16 |0.35 |0.36 |
|-------------------------------------------------------------------|
|HAT-08| |113.57 |400.70|287.13 |0.18 |0.21 |0.42 |0.30 |
|-------------------------------------------------------------------|
| |Including|113.57 |193.40|79.83 |0.22 |0.39 |0.59 |0.44 |
|------| |--------------------------------------------------|
| | |177.60 |193.40|15.80 |0.50 |0.86 |0.88 |0.98 |
|------| |--------------------------------------------------|
| | |325.75 |400.70|74.95 |0.31 |0.22 |0.91 |0.44 |
|------| |--------------------------------------------------|
| | |389.00 |404.40|15.40 |0.41 |0.31 |0.81 |0.59 |
|-------------------------------------------------------------------|
|HAT-09| |5.18 |17.37 |12.19***|1.41 |2.96 |12.93|3.14 |
|-------------------------------------------------------------------|
| | |17.37 |78.33 |60.96 |0.03 |0.10 |0.18 |0.09 |
|-------------------------------------------------------------------|
|HAT-11| |6.00 |319.11|313.11 |0.22 |0.18 |0.85 |0.32 |
|-------------------------------------------------------------------|
| |Including|50.78 |111.86|61.08 |0.37 |0.24 |1.63 |0.52 |
|------| |--------------------------------------------------|
| | |90.52 |111.86|21.34 |0.78 |0.43 |3.43 |1.05 |
|------| |--------------------------------------------------|
| | |181.96 |319.11|137.15 |0.25 |0.26 |0.85 |0.40 |
|------| |--------------------------------------------------|
| | |200.24 |299.08|98.84 |0.28 |0.30 |0.82 |0.45 |
|------| |--------------------------------------------------|
| | |258.15 |309.97|51.82 |0.42 |0.34 |1.56 |0.62 |
---------------------------------------------------------------------
[*Lengths as shown do not necessarily
represent true thicknesses . Insufficient work has been completed
to enable determination of true thicknesses.]
**The % copper equivalent estimate was based
on copper, gold and silver values and metal prices and does not
make any provision for metallurgical recoveries for the metals. The
formula used to calculate copper equivalent values is:
%CuEq = [Cu% + (Au
g/t*0.5452) + (Ag g/t*0.0088]: using metal prices as of 17/01/2014. Silver
values are only included for samples analysed by four-acid
digestion/ICP-ES preparation method with detection limit of 0.5 ppm
Ag: aqua regia digestion/ICP-MS method has 2 g/tonne silver
detection limit.
***These values are suspect due to poor core
recovery and should not
be relied upon in any evaluation
of the Hat property; they may represent surface enrichment or
contamination by materials transported downslope from some part of
Anomaly E where geochemical soil samples have strongly elevated
copper and gold in soil values.]
Drill Plans are posted on the website of the Company
at:
http://www.doubleview.ca/hat-project-discovery-maps/
Discussion:
The Company's geological consultant
advises that the recently completed drilling program successfully
demonstrated the continuity of copper-gold mineralization related
to Anomaly B, with mineralization present in multiple zones and has
not shown any limits of mineralization but there has been
insufficient exploration to define a mineral resource. It is
uncertain if further exploration will result in definition of a
mineral resource. The vertical extent of the mineralization is
unknown but drill hole H-8 ended in strong copper-gold
mineralization at more than 330 metres below surface and drill hole
H-11 was completed in similar mineralization at more than 260
metres below surface. The horizontal distance from mineral zones in
drill hole H-6 to drill hole H-8 is almost one
kilometre. Speculatively,
if the newly discovered mineral zone is, as appears likely,
continuous with the historic Hoey copper-gold zone that lies 2
kilometres south of the drill hole H-8 and has closely similar
geologic and mineralogic characteristics, the horizontal extent may
be in excess of three kilometres.
Sulphide mineralization in the form
of pyrite and chalcopyrite was encountered in all Hat property
drill holes. Pyrite may occur alone but also is closely associated
with chalcopyrite. Significant gold values accompany copper-rich
sections and also occur in sections without significant copper
values. Magnetite appears to be developed as part of a regional
alteration event and by itself is not a reliable guide to copper
and gold mineralization.
All Hat property drill holes passed
through Late Triassic age Stuhini formation andesitic flows and
tuffs and coeval iron-rich gabbroic intrusive rocks and all rocks,
with the exception of a few apparently much younger dykes, are
variably altered with development of chlorite, magnetite and, less
frequently, biotite. The Stuhini formation is host to several
important mineral deposits in the Stikine District.
The May and June, 2013 initial six
drill hole, 1380 metre (4528 feet), diamond drilling program on the
Hat Property validated historic property data, including
geochemical and geophysical surveys, and confirmed the presence of
important copper-gold mineralization related to strong induced
polarization (IP) chargeability anomalies. Drill hole H-6 of that
program intersected 110.1 metres with 0.21% copper and 0.15 grams
per tonne gold (see News Release dated July 11, 2013). A second
phase of drilling commenced in mid-October immediately after
completion of a 15 line-km induced polarization (IP) geophysical
survey that provided additional chargeability and resistivity data
in the area of previously identified geophysical anomalies. Those
data were reviewed by the Company's management and consultants who
then recommended follow-up investigation by drilling of several
areas with strongly anomalous chargeability readings. Areas were
prioritized with emphasis on those that have anomalous geophysical
data coincident with strongly anomalous geochemical soil survey
data.
The second phase of diamond drilling
comprised five drill holes with total length 1276.6 metres (4188.5
ft). All drill holes were directed to central and eastern parts of
"Anomaly B", a large (1390 m by 520 m) geophysical anomaly the
western part of which was also investigated by drill hole H-6 (see
above). Work continued until the end of November when severe winter
conditions forced closure of operations.
Four other areas with similarly
strong geophysical and geochemical characteristics, including two
areas with copper mineralization and gold values in surface
outcrops, have not been tested by drilling (see News Release dated
October 17, 2013). Company personnel have recently discovered
strong Copper-Gold mineralization in outcrops that are coincident
with the strongest chargeability (IP) readings from the 2013
geophysical survey. A grab sample assayed 0.421% Cu and 0.418ppm
Au. The area, designated "Anomaly C", has not been tested by
drilling and there is no assurance that the area is host to
mineralization similar to that present in the "Anomaly B" area.
Doubleview Capital's management and consultants
currently are planning the early 2014 program of work for the Hat
property. Further exploration will be directed to the
above-referenced 'Anomaly B' mineral zone, Anomaly C, and to other
similar targeted areas.
Quality
Control:
Cores were examined by the Company's
consulting geologist who recorded details of rock types, alteration
and mineralization and then supervised preparation of samples.
Sample intervals were determined by variations in alteration and
mineralization, with almost all samples having sample lengths of
three metres (9.84 feet) or less. Drill intersections are reported
as drilled thicknesses and true thicknesses cannot be determined
from available data. Core samples were conveyed securely by Company
personnel to an independent ISO 9001:2008 accredited analytical
laboratory where samples were processed by industry standard
procedures. Samples were crushed and split and a 250 gram portion
was then pulverized to 85% passing a 200 mesh screen. A 0.5 gram
portion was digested in hot aqua regia followed by determination of
24 elements by induced coupled plasma ignition and emission
spectrometry (ICP-ES). Gold values were obtained from 30 gram
portions by fire assay methods with atomic absorption finish.
Certain core samples were also processed by four-acid digestion
followed by ICP-ES determination of 35 elements. Further QA/QC
procedures were observed, with insertion of standard samples in the
batches of core samples and the laboratory provided data from
replicate pulp and reject samples and its own internal standard
samples. In addition, certain sample pulps were delivered to a
second independent accredited analytical laboratory where they were
analysed by similar industry-standard methods. The Company believes
that the analytical data provided by the laboratories are
acceptable for purposes of evaluating the Hat property.
Farshad Shirvani, President and CEO
of Doubleview, advises that commencing in early 2014 the Company
intends to aggressively explore the Hat property with the objective
of further defining the newly discovered mineral zone and
initiating work on other exploration targets identified by
geochemical and geophysical surveys. Details of the 2014 program of
work are being finalized and financing options are being
considered.
Disclosure
Erik A. Ostensoe, P. Geo, a
consulting geologist and Doubleview's Qualified Person within the
meaning of National Instrument 43-101 - Standards of Disclosure for
Mineral Projects with respect to the Hat Project, has reviewed and
approved the technical disclosure of this news release. Mr.
Ostensoe is not independent of Doubleview as he is a shareholder
and is a co-optionor of the Hat Project.
About Doubleview Capital Corp.
Doubleview Capital Corp., a mineral
resource exploration and development company, is based in
Vancouver, British Columbia, Canada and is publicly traded on the
TSX-Venture Exchange [TSX.V:DBV]. Doubleview identifies, acquires
and finances precious and base metal exploration projects in North
America, particularly in British Columbia, Canada. Doubleview
increases shareholder value through acquisition and exploration of
quality gold, copper and silver properties and the application of
advanced state-of-the-art exploration methods. Doubleview's
portfolio of strategic properties provides diversification and
mitigates investment risk.
Forward-looking
Information
All
statements in this news release, other than statements of
historical fact, are 'forward-looking' with respect to Doubleview
Capital Corp. within the meaning of applicable securities laws.
Forward-looking information is not a guarantee of future
performance and may be based on assumptions, factors and
events that are independent of
Doubleview and there is no assurance that any or all of the planned
activities of the Company will be realized.
On behalf of the Board of
Directors,
Farshad Shirvani, President
& Chief Executive Officer
For further
information please contact:
Doubleview Capital
Corp.
Suite 310, 675 West Hastings
Street
Vancouver, BC V6B 1N2
Farshad Shirvani
President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
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