Mr. Farshad Shirvani reports
DOUBLEVIEW ANNOUNCES THE LONGEST YET REPORTED GOLD AND COPPER MINERALIZATION INTERCEPT AT HAT GOLD COPPER PORPHYRY
Complete analytical results have been obtained for all core samples from recent drilling programs at Doubleview Capital Corp.'s Hat project in northwestern British Columbia.
Drill hole H-23, parts of which were previously announced, intercepted:
-
456.28 metres at 0.20 gram per tonne gold, 0.24 per cent copper and 0.5 g/t silver (0.38 per cent copper equivalent (CuEq)) of a longer mineralized intersection of:
- 514.90 m at 0.18 g/t gold, 0.21 per cent copper and 0.45 g/t silver (0.34 per cent CuEq).
Drill hole H-26 intercepted:
- 261.13 m of mineralization at 0.16 g/t gold, 0.24 per cent copper and 0.31 g/t silver (0.35 per cent CuEq) of a longer:
- 514.41 m mineralized intersection of 0.14 g/t gold, 0.19 per cent copper and 0.43 g/t silver (0.28 per cent CuEq).
The recent drill holes extend the Lisle zone mineralization 75 m to the east. The limits of the Lisle zone have not been determined.
Drill hole H-24, located 997 m northwest of hole H-26, is believed to be an extension of the Lisle zone anomaly A but continuity is yet to be demonstrated.
The Hat project, located 95 kilometres southwest of Dease Lake and 475 km north of Smithers, B.C., is a gold-copper alkalic porphyry-type mineral deposit with apparent grades similar to those of several currently operating porphyry-type mines, and porphyry deposits (1) in the interior of British Columbia. Doubleview acquired the Hat property in 2011 and subsequently conducted technical surveys and since 2013 has drilled 10,281.3 metres in 30 drill holes. The 3,561.4-hectare property is fully permitted.
The Lisle zone that was discovered in 2013 has been the focus of recent drilling. The company and its associates believe that a mineral deposit with minimum dimensions of approximately 350 metres by 330 metres and apparent thickness of 395 metres has been indicated and recent drill holes have continued to expand the footprint. True thickness has not yet been determined. Several parts of the Hat property with similar characteristics remain to be tested.
President and chief executive officer Farshad Shirvani stated: "Doubleview continues to advance the Hat project and is greatly encouraged by the current strength of global metal markets driven by robust economic growth and, in particular, by uncertainties in copper supplies. The Hat property is located in a stable political jurisdiction and has very favourable logistics."
The associated table shows composites of analyses from recent drill holes.
DDH From To Length Au Cu Ag CuEq
(m) (m) (m) (g/t) (%) (g/t) (%)
H023* 24.1 539 514.9 0.18 0.21 0.45 0.34
H023 including 56.72 513 456.28 0.2 0.24 0.5 0.38
H023 and 67.9 400.27 332.37 0.25 0.29 0.55 0.46
H023 and 270.62 367.3 96.68 0.38 0.51 0.36 0.77
H023 and 303.33 346.15 42.82 0.54 0.68 0.47 1.04
H024 3 139 136 0.1 0.11 0.44 0.18
H024 including 3 77 74 0.17 0.19 0.59 0.31
H024 and 3 36.5 33.5 0.38 0.42 1.02 0.69
H024 and 3 26.5 23.5 0.52 0.59 1.22 0.95
H024 and 3 7 4 2.62 3.19 4.0 4.96
H024 234 236 2 0.12 0.32 3.0 0.43
H025 no significant values
H026 7.62 522.03 514.41 0.14 0.19 0.43 0.28
H026 including 7.62 27.8 20.18 0.41 0.39 2.54 0.68
H026 and 189.8 522.03 332.23 0.16 0.22 0.27 0.33
H026 including 189.8 308.37 118.57 0.22 0.25 0.18 0.39
H026 and 252.86 287 34.14 0.28 0.44 0.34 0.63
H026 and including 260.9 522.03 261.13 0.16 0.24 0.31 0.35
H026 and including 260.9 310.47 49.57 0.26 0.39 0.26 0.56
H026 and 454.86 522.03 67.17 0.15 0.35 0.58 0.45
Notes
H027, H028, H029, H030 to be reported later.
* Partial results were reported Feb. 3, 2015.
** True widths unknown.
Drill plan is located on the website of the company.
Note
Dimensions are reported in metric units. CuEq per cent is a variable calculation using current prices: gold at $1,230 per ounce, silver at $18 per ounce and copper at $2.72 per pound. They should not be relied upon in a valuation of the Hat deposit.
MEASURED AND INDICATED RESOURCES -- SIMILAR
BRITISH COLUMBIA PORPHYRY DEPOSITS
Operating Gold Copper Silver
mine (moz) (mt) (moz)
Red Chris mine 11.6 2.5 36.8
Mt. Milligan mine 5.7 1
Gibraltar mine 2.3
New Afton mine 2.4 0.94 7.0
Copper Mountain mine 2.27
Quality assurance and quality control
All Hat property drill core samples were prepared and analyzed following rigourous quality assurance/quality control procedures. Drill cores were sampled on-site by sawing the core lengthwise and placing one-half securely in a sample bag that was subsequently forwarded by commercial carriers to a fully accredited analytical laboratory. The remaining half core was stored on the property for possible future reference. At the laboratory samples were dried and then crushed to 70 per cent passing an 80-micron screen. A representative portion of the undersize was pulverized and a 0.5-gram subsample was processed by 3:1 aqua regia digestion followed by ICP-AES/MS (inductively coupled plasma atomic emission spectroscopy/mass spectrometry) analysis for 51 elements. Doubleview, in order to monitor the reliability of the laboratory's procedures and instruments, inserted certified standard samples into the sample stream and the laboratory performed and reported duplicate analyses of Hat project samples as well as analyses of its own standard and blank samples.
Erik Ostensoe, PGeo, a consulting geologist and Doubleview's qualified person with respect to the Hat project as defined by National Instrument 43-101 standards of disclosure for mineral projects, has reviewed and approved the technical contents of this news release. He is not independent of Doubleview as he is both a shareholder and a co-optioner of the Hat property.
About Doubleview Capital Corp.
Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. 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.
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