17:11:13 EDT Wed 07 May 2025
Enter Symbol
or Name
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Doubleview Capital Corp
Symbol DBV
Shares Issued 28,547,593
Close 2013-07-10 C$ 0.14
Market Cap C$ 3,996,663
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Doubleview drills 110 m of 0.21% Cu, 0.15 g/t Au at Hat

2013-07-11 10:00 ET - News Release

Mr. Farshad Shirvani reports

DOUBLEVIEW CAPITAL CORP. DRILLS 110M OF 0.21% COPPER AND 0.15 G/T GOLD (INCLUDING 3.5M OF 0.36% COPPER AND 0.28 G/T GOLD; AND 19.8M OF 0.30% COPPER AND 0.23 G/T GOLD; AND 22.9M OF 0.31% COPPER AND 0.18 G/T GOLD)

Doubleview Capital Corp. has provided a summary of initial assay results from its recently completed diamond drilling program at the Hat copper-gold porphyry project located 95 kilometres west of Dease Lake in the Stikine mining district of northwestern British Columbia. The drilling program was the first substantial exploration work on the property since 1979, and was directed to primary exploration targets comprising several areas of copper and gold soil geochemical anomalies that are coincident with historic induced polarization chargeability geophysical anomalies. Doubleview holds an option to acquire a 100-per-cent interest in the 1,891-hectare Hat project, subject to a 2-per-cent net smelter return royalty.

Diamond drilling commenced on May 24, 2013, and six drill holes with total length of 1,380 metres were completed. Drill holes Hat01 to Hat05, directed to the area of a highly regarded geochemical and geophysical anomaly, intersected altered andesitic volcanic rocks and dioritic intrusive rocks with intercepts of pyrite and chalcopyrite mineralization and abundant magnetite. Drill hole Hat06, the initial test of a geophysical target located 800 metres south of holes Hat01 to Hat05, intersected similar altered andesitic volcanic formations and varying amounts of sulphide mineralization, including pyrite, chalcopyrite and minor bornite. Drill hole Hat06 core visuals suggest that it hit the edge of an alkalic copper-gold porphyry environment (assays from drill hole Hat06 returned copper values from less than 0.001 per cent to 6.083 per cent, and gold values from less than 0.005 gram per tonne to 4.674 g/t). Drill cores were logged and sampled on site by company geologists and submitted to an accredited ISO 9001-2008 laboratory for analysis by industry-standard procedures. Core sample lengths varied from 40 centimetres to maximum length four metres. One hundred sixty-six core samples were submitted. Quality assurance/quality control protocols and security were observed in the field and while samples were in transit.

Analytical results

Core samples were crushed to 80 per cent passing 10 mesh, and 250 grams were then pulverized to 85 per cent passing 200 mesh. A 30-gram portion was then digested by hot aqua regia and processed using multielement ICP emission spectrometry analysis for 24 elements. In addition, gold values were determined for 30-gram portions by lead collection fire assay fusion methods with atomic absorption spectrometric finish. Standard samples were introduced into the sample batches, and the laboratory for internal monitoring purposes also included analytical duplicate, standard and blank samples to ensure quality of their data. Highlights from the analytical data are shown in the attached table.

                 SUMMARY OF DRILL CORE ASSAYS 

Hole No.       From    To     Length           Cu           Au 
                 (m)   (m)        (m)          (%)        (ppm)

DDH01          73.2  77.8        4.6         0.10         0.03
DDH02         104.7 119.3       14.6         0.39         0.29
DDH03          50.5  57.6        7.1         0.21         0.18
               72.0  72.4        0.4         0.50         0.59
DDH04          56.9  74.7       17.8         0.18         0.16
              111.5 112.6        1.1         1.07         0.84
DDH05         123.7 128.8        5.1         0.35         0.08
              183.1 184.1        1.0         0.21         0.07
DDH06          72.1 182.2      110.1         0.21         0.15
Including      81.2  84.7        3.5         0.36         0.28
and           116.8 136.6       19.8         0.30         0.23
and           136.6 145.6        9.0         0.22         0.18
and           154.4 177.3       22.9         0.31         0.18
              209.1 227.6       18.5         0.23         0.04
Including     209.1 211.3        2.2         0.30         0.01
and           223.7 227.6        3.9         0.67         0.13
              239.6 242.6        3.0         0.22         0.25

Discussion of drill data

Drill holes Hat01 to Hat05 were directed to the primary exploration targets as identified by reference to coincident historic copper-in-soil geochemical data, and induced polarization and magnetic geophysical data, and more recent prospecting and technical work by the property's optionors. Drill cores comprised epidote and magnetite-rich andesitic volcanic rocks, and dioritic intrusive rocks with narrow sections of chalcopyrite mineralization. Drill hole Hat06 intersected a similar andesitic and dioritic formation with less epidote and magnetite, and included a 110.1-metre section with 0.21 per cent copper and 0.15 gram per tonne gold and, as shown in the associated table, other narrower but higher-grade sections.

Company management and consultants are reviewing all property data, including drill hole data, and have recommended continuation of diamond drilling to further define the copper-mineralized zone in drill hole Hat06 and to explore several other highly prospective areas of the property. A detailed induced polarization geophysical survey of approximately 40 line kilometres will be conducted to further define the previously identified exploration targets. Major exploration targets are tabulated in the associated table.

                          EXPLORATION TARGET AREAS 

   Exploration target             Anomalies       Approximate       Remarks
                                                   dimensions

1            Target A   Soil geochem and IP   1,000 m x 480 m     Partially
                                                                 drilled in
                                                                    phase I
                                                                exploration
2            Target B      Soil geochem and   1,390 m x 520 m       Area of
                          relatively strong                     drill Hat06
                              chargeability
3            Target C      Soil geochem and   1,350 m x 920 m
                                     strong
                              chargeability
4            Target D   Soil geochem and IP    1,120m x 520 m
5            Target E     Relatively strong     820 m x 660 m 
                          chargeability and
                               soil geochem
6            Target F         Soil and rock     550 m x 300 m
                                    geochem

Notes:
(1) No drilling, sampling or recovery issues are believed to materially impact
    the accuracy of these results. 
(2) True widths are not known.

The Hat project is located in one of the most active exploration areas in British Columbia. Following a burst of recent claim staking, numerous junior companies and several major mining companies are active in the area.

About the Hat project

The Hat project is a highly regarded, early-stage exploration prospect with a history of surface exploration (historical exploration timeline is available on the company's website), situated in the Stikine district of northwestern British Columbia where several large copper-gold properties are being actively explored, including Red Chris (Imperial Metals), Schaft Creek (Copper Fox) and Galore Creek (Novagold and Teck), where permitting, environmental studies, and prefeasibility and feasibility studies, and at Red Chris, construction, are in progress. The Hat project was last investigated by a major company in 1979, and present-day exploration methods have not been applied.

Erik A. Ostensoe, PGeo, a consulting geologist, is Doubleview's qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, with respect to the Hat project and has provided on-site supervision of the drilling, and 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.

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