01:33:36 EDT Fri 29 Mar 2024
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or Name
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Doubleview Gold Corp
Symbol DBG
Shares Issued 178,973,025
Close 2023-06-01 C$ 0.435
Market Cap C$ 77,853,266
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Doubleview Gold drills 459 m of 0.92% CuEq at Hat

2023-06-01 11:36 ET - News Release

Mr. Farshad Shirvani reports

DOUBLEVIEW IS PLEASED TO ANNOUNCE DRILL HOLE ASSAY RESULTS AND STRONG MINERALIZATION CONNECTS WEST LISLE MINERALIZATION WITH THE MAIN LISLE MINERALIZATION

Doubleview Gold Corp. has released assay results of Hat project drill holes H045, H046, H047, H048, H050 and H051. Drill hole H050 intersected the strongest cobalt (Co) mineralization yet, with 2,240 grams per tonne (g/t) over three metres. Drill hole H045 intersected one of the longest and strongest sections of mineralization reported in this news release, with 459 m at 0.91 per cent CuEq (copper equivalent).

The Hat project is a large alkalic copper-gold porphyry-type deposit located in northwestern British Columbia that, since 2011, has been explored by Doubleview utilizing technical surveys and diamond drilling operations. Hat property surveys and drilling have been largely directed to the Lisle copper-gold-cobalt-scandium mineral zone. Principal minerals are chalcopyrite, pyrite and magnetite hosted in volcaniclastic and gabbroic formations. The Lisle zone has indicated dimensions of approximately 2.7 kilometres by 1.7 km, and is still being delimited laterally and at depth.

Drill holes reported in this news release were positioned as follows:

  • H045 and H046 expanded the West Lisle area, H047 extended an area of strong mineralization north-northeast of the Main Lisle zone that was discovered by drilling in 2022, and holes H049, H050 and H051 added significantly to the west side of the Main Lisle zone.

Assay data are included in the table entitled "Assay results." Assays are summarized as follows:

  • North-northeast of Lisle zone:
    • Drill hole H047 intercepted 343.6 metres with 0.91 per cent CuEq from surface, including 120.9 metres with 1.05 per cent CuEq.
  • West of the Lisle zone:
    • Drill hole H045 intercepted 459 metres with 0.92 per cent CuEq from 28 m depth, including 127 metres with 0.98 per cent CuEq.
    • Drill hole H046 intercepted 315.1 metres with 0.81 per cent CuEq from 66 m depth, including 141 metres with 0.97 per cent CuEq.
  • Main-west of the Lisle zone:
    • Drill hole H049 assays are pending.
    • Drill hole H050 intercepted 290.1 metres with 1.03 per cent CuEq from near surface, including 207.6 metres with 1.08 per cent CuEq.
    • Drill hole H051 intercepted 313.4 metres with 0.96 per cent CuEq from near surface, including 44.8 metres with 1.3 per cent CuEq.

Note: Drill hole intercepts are presented as drilled. The company does not have sufficient information to provide true deposit dimensions.

Farshad Shirvani, Doubleview's president and CEO, comments that: "Recent drilling exploration has shown continuity and strength of mineralization in the Lisle deposit, although boundaries in all directions are not yet known. The year 2023 is crucial for the development of the Hat project, as it involves metallurgical studies and the maiden resource estimation, which will provide insights into the significance of this deposit. I am delighted that we have one of the largest and potentially viable scandium and copper deposits in the western hemisphere."

Quality assurance and quality control

Core samples were prepared at the North Vancouver facility of ALS Canada Ltd. using its PREP-31, PGM-ICP24, ME-MS61 and ME-ICP06 packages. Each core sample is dried, then crushed to 70 per cent passing a two-millimetre (mm) screen. All material is processed in an automatic riffle splitter to yield a 250-gram (g) homogenized, representative sample. This subsample is then pulverized to 85 per cent passing a 75-micron screen. All samples are analyzed for Au (gold), Pt (platinum) and Pd (palladium) by 50 g fire-assay fusion/ICP-ES (inductively coupled plasma emission spectroscopy) finish, using PGM-ICP24 package. A separate 0.25 g pulp split is analyzed by four-acid digestion/ICP-MS (inductively coupled plasma mass spectrometry) finish, reporting 48 elements. Overlimit elements are analyzed by ore-grade four-acid digestion/ICP-ES finish, using ME-OG62 assay package. All of Doubleview's core samples are analyzed or assayed at independent ISO 17025- and ISO 9001-certified laboratories.

Qualified person

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. Mr. Ostensoe is not independent of Doubleview as he is a shareholder in the company.

Cautionary note: Although a mineral resource estimation is currently being prepared by an independent engineering firm, no mineral resources have been estimated at the Hat property and there is no assurance that further work will result in the Lisle zone, or other zones, if present, being classified as mineral resources.

About Doubleview Gold Corp.

Doubleview Gold, a mineral resource exploration and development company, is based in Vancouver, B.C., Canada. 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. The company's portfolio of strategic properties provides diversification and mitigates investment risks.

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