Driven Capital provides corporate update
10 Junho 2012 - 3:22PM
PR Newswire (Canada)
TSX Venture Exchange: DVV VANCOUVER, June 11, 2012 /CNW/ -
Driven Capital Corp. ("Driven" or the "Company") is pleased to
provide a corporate update on its three mineral exploration
projects. "We have two drill-ready properties in the Yukon, and a
BC property approaching drill-ready status that is adjacent to the
world's largest gold exploration project," stated Toma Sojonky,
President & CEO. "Suffice to say, 2012 will be an exciting and
pivotal year for Driven." Blackwater East - Nechako Plateau, BC
Blackwater East is comprised of 23 contiguous mineral claims
totaling approximately 8,472 hectares on the Omineca Mining
Division's prolific Nechako Plateau. The property is adjacent to
the eastern/southeastern boundaries of New Gold Inc.'s Blackwater
gold project, which hosts currently defined indicated resources of
5.5 million ounces of gold, and additional inferred resources of
2.3 million ounces of gold. New Gold plans to carry out over
200,000 metres of drilling at Blackwater during 2012; please refer
to New Gold Inc.'s news release dated March 7, 2012 for more
details. During the 2011 field season Driven carried out
prospecting, geological mapping and geochemical rock and soil
sampling at Blackwater East. This work identified three
well-defined geochemical anomalies, having elevated levels of zinc,
silver, copper and lead, as well as scattered high gold values of
up to 530 ppb gold. Two of these anomalies coincide with regional
magnetic anomalies in the south and southeastern portions of the
property. Follow-up prospecting over the coincidental anomalies
revealed some extensive areas of moderate alteration with some
included zones of silicification. These findings have been
integrated into the design of a 27 line-kilometre ground magnetic
and induced-polarization (IP) geophysical survey that is scheduled
to be carried out by Peter E. Walcott & Associates Limited
during the first half of this field season. The necessary permit to
carry out the geophysical work is in hand and lines were cut for
the survey near the end of the 2011 season. As announced on May 9,
2012, Driven has applied for a permit to carry out a 2,000 metre,
first-phase diamond drilling program at Blackwater East, contingent
upon and prioritized by the results of the geophysics. The Company
has retained Coast Mountain Geological Ltd. to manage the drill
permitting process. Other prospective areas on Blackwater East
include the southernmost slopes of Kuyakuz Mountain, where a 1995
government sampling program resulted in stream silt samples
containing 465 ppb gold and 165 ppb gold in one drainage. Brief
follow up sluice-box prospecting by Driven revealed a small amount
of visible gold in the drainage, and follow up surface work is
planned in this poorly exposed area during the 2012 field season.
The Company's option with Ansell Capital Corp. is in good standing;
work completed during the 2011 field season has satisfied the
option agreement's work commitments for both 2011 and 2012. White
River Gold/Copper/Silver Property - Koidern, Yukon White River is
comprised of 335 contiguous quartz claims totaling approximately
7,002 hectares in area, within the prolific Tintina Gold Belt.
Project optionor Tarsis Resources Ltd. targeted and staked White
River as a grassroots discovery in 2010. Subsequent to Tarsis'
discovery, Teck Resources Ltd. staked a large block of claims
adjoining White River to the south and east. During the 2010 and
2011 field seasons, prospecting, geological mapping, geochemical
rock and soil sampling and hand trenching was carried out on White
River. Two large zones mineralized in gold, copper and silver (West
Zone and East Zone) were discovered along exposed ridge-tops,
located approximately eight kilometers apart; glacial deposits and
vegetation cover the intervening area. The presence of
arsenic, bismuth and tungsten pathfinder elements along with the
multi-intrusion geologic setting indicate potential for
intrusive-related gold deposits similar to major deposits within
the Tintina Gold Belt such as Fort Knox, Dublin Gulch and
Livengood. The West Zone is at least six square kilometers in area
as defined by strongly anomalous gold, copper and arsenic in soils.
Prospecting samples from outcrop and float assayed up to 39.8 g/t
gold, 8.52% copper and 1,310 g/t silver. Limited mapping has
identified ten distinct vein structures within a better-exposed
portion of the zone. Eleven hand trenches were completed across
five separate structures in the West Zone. Strongly anomalous gold
values were identified in nine of eleven trenches, with trench
TR-HG11-02 featuring a channel sample returning 82.2 g/t gold
across 1.0 metre; and a grab and an auger sample from the core
portion of the same exposure returning 214 g/t gold and 129 g/t
gold, respectively. The results of this work have prompted the
design of a first-phase diamond drill and supplementary exploration
program. Driven's earn-in agreement includes a first-year
commitment to drill not less than 1,500 metres. Given this
obligation and moreover the highly prospective results of recent
work, Driven's top exploration priority in 2012 is to drill White
River. The Company has awarded this contract to Top Rank Diamond
Drilling Ltd., and drilling is expected to commence in June. Lyn
Silver Project - Faro, Yukon Lyn is comprised of 264 contiguous
quartz claims totaling approximately 5,518 hectares on the
southwest side of the Tintina Fault in the historic Anvil District.
Last year's exploration confirmed the presence of high and
ultra-high grade silver, lead and zinc mineralization at Lyn. A
highlight channel sample from a historic trench returned 5,888 g/t
silver and 44.06% lead across 0.79 metre, including 10,505 g/t
silver and 41.49% lead across 0.39 metre. Highlight 2011 Driven
trenching chip channel samples returned up to 2,770 g/t silver, 23%
lead and 4% zinc over 0.40 metre; and 961 g/t silver, 20% lead and
10.35% zinc over 0.50 metre. Numerous 2011 surface rock chip
samples exceeded 20% combined lead and zinc, and up to 58.14% lead
and 26.3% zinc. The Company is highly encouraged by the widespread
distribution of high-grade silver-lead-zinc mineralization. The
five main vein structures identified thus far occur in a 0.5 square
kilometre area and are intermittently exposed for distances up to
400 meters along strike. Veins are consistent in orientation (near
vertical, striking north-south), aiding predictability. Geologic
mapping during 2011 revealed that veins occur in both sedimentary
and intrusive rocks, demonstrating that high-grade silver
mineralization is not restricted to a specific host rock, which
greatly increases the prospective area of the project both
horizontally and vertically. Glacial deposits and vegetative cover
both to the north and south of trench exposures conceal the lateral
strike extent of known veins; positive results from soil samples
collected in these covered areas during 2011 suggest lateral
persistence of veins significant distances from known exposures,
adding to potential drill targets. These factors collectively
indicate excellent potential for discovery of an economic,
high-grade silver-lead-zinc district at Lyn. Accordingly, Driven
plans to test Lyn's potential at depth with a first-phase, 2,000
metre conventional-core drilling program. Additional potential for
Sedex type lead-zinc-silver deposits, similar to those mined in the
Faro district located about 15 kilometers north, exists in the
southeastern half of the property. This area was sporadically
explored in the 1960s and 1970s and will be evaluated by Driven in
the future. The Company's option with 7606 Yukon Ltd. and Panarc
Resources Ltd. is in good standing; work completed during the 2011
field season has satisfied the option agreement's work commitments
for both 2011 and 2012. Lindsay Bottomer, P.Geo, a Director of the
Company, is the Qualified Person as defined under National
Instrument 43-101, who has reviewed the technical information in
this news release relating to Blackwater East. U. Peter Kurisoo,
CPG, Chief Geologist and a Director of the Company, is the
Qualified Person who has reviewed the technical information in this
news release relating to White River and Lyn. Driven Capital Corp.
is deploying its accomplished technical and management team toward
the exploration of its portfolio of highly prospective precious
metals projects in the Yukon and British Columbia. On Behalf of the
Board of Directors of Driven Capital Corp. "Toma Sojonky" Toma
Sojonky, President & CEO Neither the 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. Cautionary Statement
Regarding Forward-Looking Information: All statements, trend
analysis and other information contained in this press release
relative to markets about anticipated future events or results
constitute forward-looking statements. Forward-looking statements
are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "expect" and
"intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. Forward-looking statements are subject to business and
economic risks and uncertainties and other factors that could cause
actual results of operations to differ materially from those
contained in the forward-looking statements. Forward-looking
statements are based on estimates and opinions of management at the
date the statements are made. The Company does not undertake any
obligation to update forward-looking statements even if
circumstances or management's estimates or opinions should change.
Investors should not place undue reliance on forward-looking
statements. Driven Capital Corp. CONTACT: please contact Toma
Sojonky, President & CEO, at (604) 569-0799,orvisit
www.DrivenCapital.ca
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