DOUBLEVIEW CAPITAL CORP. (TSX-V: DBV) – PROVIDES HAT GOLD-COPPER PORPHYRY DEPOSIT UPDATE
Doubleview Capital Corp. has provided an exploration update from its Hat porphyry project, where drilling in the past years has identified a large gold-copper porphyry deposit that remains open in all directions. The Hat project is located in the Sheslay district of northwestern British Columbia, Canada, approximately 95 kilometres southwest of Dease Lake.
The latest Hat property update includes the deposit model and revised reported mineralized drill hole intercepts from the Lisle deposit. Doubleview also reveals plans for further exploration of the Hat property’s emerging Hoey gold area.
The following revised intercepts are from selected Lisle deposit drill holes, employing up-to-date values for gold, copper, silver and cobalt, that reflect recent commodity prices (1):
- DH H-022: 418.28 metres at 0.51 per cent copper equivalent — from 45.5 m to 463.8 m;
- Including: DH H-022: 110.16 m at 1.01 per cent CuEq — from 304.9 m to 415.0 m;
- DH H-023: 332.37 m at 0.56 per cent CuEq — from 67.9 m to 400.2 m;
- Including: DH H-023: 80.07 m at 1.00 per cent CuEq — from 270.6 m to 350.7 m.
(1) CuEq figures employ the following metal prices: gold at $1,300 (U.S.)/ounce, copper at $3 (U.S.)/pound, silver at $17 (U.S.)/ounce and cobalt at $35 (U.S.)/pound. CuEq calculations are presented in U.S. dollars and will vary with market and currency fluctuations.
“These latest results offer further evidence of the Hat project’s potential,” said Doubleview chief executive officer Farshad Shirvani. “The extensive mineralized length in some of the drill holes have not yet established limits either laterally or at depth.”
Interpretations of assays and geology of Lisle deposit drill holes and surface samples from Hoey area gold and copper showings (news release dated Oct. 19, 2017) demonstrate possible alignment and continuity between the areas that will be explored in the upcoming exploration season. Plans for resumption of Hat project drilling are being finalized and will be announced in the near future.
Doubleview has reviewed the cobalt analyses from its 30 drill holes and with values as high as 2,293 parts per million cobalt concludes that cobalt is important as a pathfinder element that also adds value to the Hat project. Cobalt has many industrial uses and is a basic requirement of many components of the emerging renewable and sustainable energy and automotive industries.
Hat project exploration update
Doubleview also compiled available data from the Hoey and West gossan mineral zones that are each located more than one kilometre from the Lisle zone: Both have strong surface mineralization with gold, copper, silver and cobalt values. Neither zone has been investigated by drilling. The areas are being given high priority for exploration when work at the Lisle zone is resumed. Mr. Shirvani notes that surface samples from the Hoey gold area have assays as high as 7 per cent copper and 8.1 grams/tonne gold. The Hoey gold area has the potential to be an important addition to the Hat project.
Doubleview is financially well positioned to resume its exploration drilling. The Hat project is fully permitted for drilling and the 14-man camp and facilities have been maintained to enable an efficient start-up.
“The recent strong recoveries for copper, gold and most other metals markets has been accompanied by a return to mining profitability and a robust revival of mineral exploration activity. We believe strongly that this will be a pivotal year for the mining industry,” added Mr. Shirvani. “Accordingly, we see another successful year ahead for Doubleview.”
About Doubleview Capital Corp.
Doubleview Capital, a mineral resource exploration and development company, is based in Vancouver, B.C., Canada, and is publicly traded on the TSX Venture Exchange. 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 risk.