VANCOUVER, BC / ACCESSWIRE / May 12, 2020 / Doubleview Gold Corp ("Doubleview", the "Company") (TSXV:DBG) is pleased to report that the Company is preparing to re-start diamond drilling at its Hat porphyry discovery in northwest British Columbia after intersecting the strongest mineralization yet encountered at the property. Drill hole H-034 was mineralized from bedrock surface to the total length of 701.2 meter. A 3.6 metre section of core assayed 3.44 g/t Au and 6.61% Cu (10.91% Cu Eq).
Drill hole H-034, that was directed to a geophysical target area, intersected 689 metres of strong gold-copper mineralization in what appears to be a continuation of the Lisle Zone deposit. As detailed elsewhere in this release, H-034 intercepted 88.0 meters of 0.68 g/t Au and 1% Cu in a greater interval of 258 metres of 0.31 g/t Au and 0.47% Cu (1.87% Cu Eq) within a greater interval of 692.3 metres of 0.17 g/t Au and 0.25% Cu. Drill hole H-034 was collared 360 metres south-southwest of hole H-022 and 469 metres south-southwest of hole H-023 and expands the dimensions of the Lisle Zone to approximately 920 meters north-south and 650 meters east-west. The indicated vertical dimension is about 620 metres. The Lisle Zone has not been de-limited in any direction.
Mr. Farshad Shirvani, Doubleview's President and CEO, comments that "The large expansion of the Lisle Zone announced today confirms our belief that our Hat Project is rapidly becoming a very significant large deposit and that geophysical data from 2018 surveys are reliable guides to mineralization. Since acquiring the Hat property in 2011, and discovering the Lisle Zone in 2014, we have conducted multiple drill programs and expanded the mineral zone to its present size and we are approaching a situation where our database of analyses will permit resource estimations. Our geologic model is supported by drilling and by geophysical surveys. Several other prospective areas of the property await exploration and we are very confident that not only will we continue to grow the Lisle, but will make new discoveries".
Drilling Highlights:
- HAT-034 demonstrates the potential for higher grades and length not only within but also around the 3D IP survey highlighted in previous news releases;
- The Lisle zone of the Hat deposit now measures approximately 650 meters by 920 meters, and depth has been shown to exceed 600 metres. Most of the 3D IP footprint and the property remain to be explored;
- Mineralization remains open in all directions - several large coincident geological, geophysical and geochemical targets close to the Lisle Zone have yet to be drill-tested.
Recent discoveries have shown the continuity of large scale gold rich porphyry-style mineralization and the relevance and reliability of the geophysical database. The following is a tabulation of significant assay intercepts from drill hole H-034:
Table 1 : Significant Assay Results of HAT-034:
|
DDH |
From |
To |
Length (m)* |
CuEq** |
Au |
Cu |
Ag |
Co |
Pd |
|
|
H034 |
Entire hole |
9.0 |
701.3 |
692.3 |
0.52 |
0.17 |
0.25 |
0.43 |
0.008 |
0.025 |
|
including |
49.0 |
660.9 |
611.9 |
0.59 |
0.19 |
0.28 |
0.48 |
0.008 |
0.025 |
|
|
including |
210.8 |
660.9 |
450.1 |
0.70 |
0.23 |
0.35 |
0.51 |
0.008 |
0.029 |
|
|
And Including |
402.3 |
660.9 |
258.6 |
0.92 |
0.31 |
0.47 |
0.76 |
0.009 |
0.041 |
|
|
And Including |
326.4 |
561.4 |
235.0 |
1.00 |
0.34 |
0.51 |
0.76 |
0.011 |
0.033 |
|
|
And Including |
452.2 |
540.2 |
88.0 |
1.87 |
0.68 |
1.00 |
1.66 |
0.017 |
0.062 |
|
|
And Including |
532.0 |
538.2 |
6.1 |
6.79 |
2.15 |
4.09 |
7.98 |
0.042 |
0.053 |
|
|
And including |
534.5 |
538.2 |
3.6 |
10.91 |
3.44 |
6.61 |
13.00 |
0.064 |
0.081 |
|
|
H033*** |
38.4 |
243.3 |
204.9 |
0.35 |
0.14 |
0.14 |
0.90 |
0.006 |
0.012 |
|
|
Including |
234.7 |
243.3 |
8.6 |
0.85 |
0.54 |
0.22 |
0.66 |
0.007 |
0.014 |
* Drill hole intercepts included in this news release are core lengths that may or may not be actual widths of mineralization. It is not possible to determine actual widths.
** Cu eq are calculated based on Cu eq (%) = ([(%Cu) x (22.0462) x ($2.36) + (g/t/Au) x (1/31.1035) x ($1700)+ (g/t/Ag) x (1/31.1035) x ($15.5) + (g/t/Pd) x (1/31.1035) x ($2000)+ (%Co) x (22.0462) x ($17)]) ÷ ((22.0462) x ($lbCu))).
*** Due to technical drilling issues Drill hole H-033 was abandoned in strong mineralization at depth 243.3 metres. It was intended to go much deeper: the company will re-drill this hole in the future.
The company also wishes to report the previously announced results of the 2019 drilling program. Significant assay results for drill holes H026 and H031 are given below:
|
DDH |
From |
To |
Length (m) |
Cu Eq |
Au |
Cu |
Ag |
Co (ppm) |
Pd |
|
|
H026 |
10.6 |
522.0 |
511.4 |
0.38 |
0.14 |
0.19 |
0.43 |
67.3 |
NA |
|
|
including |
10.6 |
75.5 |
64.9 |
0.49 |
0.17 |
0.23 |
1.66 |
90.9 |
NA |
|
|
and |
189.8 |
522.0 |
332.2 |
0.45 |
0.16 |
0.22 |
0.27 |
65.5 |
NA |
|
|
and |
189.8 |
310.5 |
120.7 |
0.55 |
0.22 |
0.25 |
0.18 |
86.5 |
NA |
|
|
and |
252.9 |
287.0 |
34.1 |
0.81 |
0.28 |
0.44 |
0.34 |
107.9 |
NA |
|
|
and |
482.5 |
522.0 |
39.6 |
0.61 |
0.16 |
0.38 |
0.54 |
73.4 |
NA |
|
|
846.8 |
911.3 |
64.5 |
0.27 |
0.09 |
0.13 |
0.27 |
37.6 |
0.013 |
||
|
including |
879.1 |
911.3 |
32.2 |
0.36 |
0.13 |
0.18 |
0.27 |
43.8 |
0.012 |
|
|
H031 |
14.1 |
706.0 |
691.9 |
0.35 |
0.11 |
0.16 |
0.36 |
61.6 |
0.029 |
|
|
including |
88.0 |
527.0 |
439.0 |
0.45 |
0.14 |
0.22 |
0.32 |
76.3 |
0.018 |
|
|
and |
155.4 |
527.0 |
371.6 |
0.51 |
0.16 |
0.25 |
0.33 |
78.5 |
0.019 |
|
|
including |
175.6 |
522.1 |
346.5 |
0.53 |
0.17 |
0.27 |
0.33 |
80.7 |
0.019 |
|
|
and |
237.9 |
531.0 |
293.2 |
0.57 |
0.19 |
0.29 |
0.33 |
77.5 |
0.021 |
|
|
including |
379.0 |
476.3 |
97.3 |
0.74 |
0.25 |
0.39 |
0.43 |
93.7 |
0.015 |
|
|
and |
423.0 |
522.1 |
99.1 |
0.78 |
0.23 |
0.44 |
0.62 |
80.5 |
0.034 |
|
|
and |
420.0 |
476.3 |
56.3 |
1.00 |
0.35 |
0.52 |
0.61 |
112.3 |
0.021 |
|
|
H032 |
73.3 |
101.0 |
27.7 |
0.35 |
0.10 |
0.11 |
1.21 |
136.5 |
0.013 |
NA: Not assayed for Pd.
Figure 1 illustrates IP data and drill holes
Table 2 : Drill Hole locations of 2019 drilling program are tabulated in the following table:
|
Drill Hole |
East (m) |
North (m) |
Elevation (m) |
Azimuth (°) |
Dip(°) |
Depth (m) |
|
H026 |
348028 |
6454365 |
1011.5 |
180 |
-65 |
958.75 |
|
H031 |
347692 |
6453908 |
947.00 |
120 |
-80 |
741.00 |
|
H032 |
347692 |
6453908 |
947.00 |
190 |
-85 |
111.00 |
|
H033 |
347870 |
6453938 |
959.00 |
175 |
-80 |
289.45 |
|
H034 |
347870 |
6453938 |
959.00 |
220 |
-70 |
701.25 |
Note: Assasy results of Drill holes H026, H031, and H032 have been announced in prevous news releases.
Drill Plans and sections of previous drill results are located on the Company's website at https://www.doubleview.ca/projects/hat-gold-rich-copper-porphyry/hat-drill-plan/
Mr. Shirvani also stated that the Company is actively planning and preparing the next phases of exploring the Hat property but start-up is subject to ensuring the safety of workers operating in a remote location and the Company's ability to fund exploration by raising capital in the public market. He also recognizes that the current difficult times may allow aggressive companies such as Doubleview to acquire new opportunities through partnerships and other arrangements.
Quality Assurance and Quality Control
Core samples were prepared using PRP-910 package of MSALABS Terrace facility. Each core is dried and is crushed to 70% passing 2mm. A 250g is taken using an Automatic Splitter from a Boyd Crusher or a Riffle Splitter to obtain a homogenized, representative sample. This sub-sample is then pulverized to 85% passing a 75-micron screen. All samples are analyzed for Au, Pt, Pd by 30g fire-assay fusion/ICP-ES finish, using FAS-114 package. A separate 0.25g pulp split is analyzed by Four Acid digestion/ICP-MS finish, reporting 48 elements using IMS-230. Over limit Cu, Pb, and Zn are analyzed by Four Acid digestion/ICPES finish using ICP-240/ICF-6xx assay package. All analytical and assay procedures are conducted at independent ISO 17025 and ISO 9001 certified laboratories.
Erik Ostensoe, P. Geo., 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 a shareholder of the company.
Cautionary Note: No mineral resources have been defined at the Hat Property and there is no assurance that further work will result in the Lisle Zone, or other zones if present, being delineated as resources.
About Doubleview Gold Corp
Doubleview Gold 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:DBG]. 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. 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 Gold Corp
Vancouver, BC Farshad Shirvani
President & CEO
T: (604) 678-9587
E: [email protected]
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 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.
SOURCE: Doubleview Gold Corp.