Doubleview Capital Corp.
("Doubleview") (TSX-V: DBV) is pleased to provide a summary of
initial assay results from its recently completed diamond drilling
program at the Hat copper gold porphyry project located 95 km 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% interest in the 1891
hectare Hat Project, subject to a 2% net smelter return
royalty.
Diamond
drilling commenced on May 24, 2013 and six drill holes with total
length 1380 metres were completed. Drill holes Hat01 - 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 - 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 <0.001% to 6.083% and Gold values from <0.005
g/t 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
cms to maximum length 4 metres. 166 core samples were submitted.
QA/QC protocols and security were observed in the field and while
samples were in transit.
Analytical Results
Core
samples were crushed to 80% passing 10 mesh and 250 grams were then
pulverized to 85% passing 200 mesh. A 30 gram portion was then
digested by hot aqua regia and processed using multi-element 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 include the
following:
Table 1. Summary of Drill Core
Assays
---------------------------------------------------------------
|Hole No. |From (m)|To |Length (m)|Copper Cu(%)|Gold Au(ppm)|
| | |(m) | | | |
|-------------------------------------------------------------|
|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% copper and 0.15 g/t gold and, as
shown in Table 1, 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
following Table;
Table 2. Exploration Target Areas
--------------------------------------------------------------------
| |Exploration Target|Anomalies |Approximate |Remarks |
| | | |dimensions | |
|------------------------------------------------------------------|
|1|Target A |Soil geochem and IP|1000 m x 480m|Partially |
| | | | |Drilled in |
| | | | |Phase I |
| | | | |Exploration|
|------------------------------------------------------------------|
|2|Target B |Soil geochem and |1390 m x 520m|Area of |
| | |Relatively Strong | |Drill HAT06|
| | |Chargeability | | |
|------------------------------------------------------------------|
|3|Target C |Soil Geochem and |1350 m x 920m| |
| | |Strong | | |
| | |Chargeability | | |
|------------------------------------------------------------------|
|4|Target D |Soil geochem and IP|1120m x 520m | |
|------------------------------------------------------------------|
|5|Target E |Relatively Strong |820m x 660m | |
| | |Chargeability and | | |
| | |Soil Geochem | | |
|------------------------------------------------------------------|
|6|Target F |Soil and Rock |550m x 300m | |
| | |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
pre-feasibility 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, P. Geo, 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.
About Doubleview
Capital Corp.
Doubleview Capital Corp., a mineral
resource exploration and development company, is based in
Vancouver, British Columbia, Canada and is publicly traded on the
TSX-Venture Exchange [TSX.V:DBV]. Doubleview identifies, acquires
and finances precious and base metal exploration projects in North
America, particularly in British Columbia, Canada. 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. Doubleview's
portfolio of strategic properties provides diversification and
mitigates investment risk.
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive
Officer
For further information please
contact:
Doubleview Capital Corp.
Suite 310, 675 West Hastings Street
Vancouver, BC V6B 1N2
Farshad Shirvani, M.Sc.
President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca
Forward-Looking Statements
Information set forth
in this news release contains forward-looking statements that are
based on assumptions as of the date of this news release. These
statements reflect management's current estimates, beliefs,
intentions and expectations. They are not guarantees of future
performance. Doubleview cautions that all forward looking
statements are inherently uncertain and that actual performance may
be affected by a number of material factors, many of which are
beyond Doubleview's control. Such factors include, among other
things: risks and uncertainties relating to Doubleview's drill
program on the Hat Project, limited operating history and the need
to comply with environmental and governmental regulations.
Accordingly, actual and future events, conditions and results may
differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward looking
information. Except as required under applicable securities
legislation, Doubleview undertakes no obligation to publicly update
or revise forward-looking information.
NEITHER 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.
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