CALGARY, AB / ACCESSWIRE / November 16, 2020 / Big Dougie Capital Corp. ("Big Dougie" or "the Corporation") (TSXV:STUV) is pleased to announce the results of the first stage investigations carried out on its Coba SW property (the "Property"). The first stage investigations were intended to confirm flooding levels in the 2 shafts present on the Property and obtaining samples from within those shafts for assaying.
A) North and South Shaft Investigations
The water level in the north shaft was encountered at 83 meters below the collar while the south shaft was dry to 119 meters below the collar where the shaft was blocked. Given the fact that the north shaft collar elevation is 12 meters higher than the south shaft collar, the conclusion that flooding in the north shaft workings was caused by surface waters and is probably temporary, has been confirmed.
The level of mineral oxidation observed in the upper levels of the north shaft extends down to 30m. Below this level, a zone of mixed oxides plus secondary sulphides, mainly chalcocite, was encountered to 50m. Below 50m, the mineralization encountered down to the water level at 83 metres consisted of mainly primary chalcopyrite, bornite and enargite.
The level of mineral oxidation observed in the upper levels of the south shaft extends down to 75m. Below 75m, the mineralization encountered to the blockage at 119m consists of mainly primary chalcopyrite, bornite, enargite and local chalcocite.
B) Shaft Sampling Program
During the shaft evaluations, rock chip samples were taken across the 1.5 - 3.4 m wide vein system exposed in pillars and drift faces on most of the accessible levels. Samples collected from both the north and the south shaft workings were taken from the mineral zones encountered.
The assay results from that sampling program are as follows:
North Shaft rock samples from the upper mixed oxide/secondary sulphide zone assayed 2.2 - 13.7 g/t gold, 1.2 - 13.7% copper, 3.0 - 25.0 g/t silver and 0.1 - 0.27% cobalt.
Samples taken from the deeper primary sulphide zone assayed 3.3 - 12.5 g/t gold, 1.1 - 6.8% copper, 2.0 - 21.0 g/t silver and 0.06 - 0.27% cobalt over 1.5 - 2m widths.
South Shaft rock samples from the upper oxide zone assayed 1.4 - 16.3 g/t gold, 1.4 - 3.7% copper, 1.8 - 8.5 g/t silver and 0.05 - 0.15% cobalt.
Samples taken from the deeper primary sulphide zone assayed 13.0 - 14.1 g/t gold, 2.4 - 3.8% copper, 6.6 - 8.7 g/t silver and 0.29 - 0.39% cobalt over 1.5 - 3.4m widths. Included were rock chip samples taken across 2.5 meters of mineralization zone from the 95m level of the south shaft that averaged 14.1 g/t gold, 3.8 % copper, 8.7 g/t silver and 0.39 % cobalt.
C) Next steps
Based on the significant results returned from sampling the North and South shaft workings, management of the Corporation will immediately undertake an Induced Polarization geophysical survey over the 2.6 km strike length of the mineralized systems identified by surface sampling already completed on the Coba SW Property. Big Dougie's management anticipates that preliminary results from that survey will be available approximately 2 weeks from start-up of the field program.
In conjunction with the geophysical program, a program of surface sampling over the vein strike will be completed to infill the sampling already completed to ensure that drilling targets will be optimized.
Commenting on the results of these first stage investigations, Terence Walker, Big Dougie's V. P Exploration stated "The high grade assays obtained from the two shafts confirms historic production grades and highlights the excellent high-grade gold - copper - silver and cobalt potential of the additional 2.3 km of vein system extension that lies within the Coba SW Property. In addition to examining the strike extension, we are particularly excited to obtain assays deeper in the sulphide zone since grades in the historic workings of the Carrizal Alto mining district are known to increase with depth".
Name Change and Consolidation
Further to Big Dougie's November 9, 2020 press release, Big Dougie has effected a name change and a share consolidation on a 1:3 basis. Big Dougie expects that its common shares will commence trading under the name Stuve Gold Corp. under the symbol "STUV" on a consolidated basis on November 17, 2020.
The technical information contained in this news release has been reviewed and approved by Terence Walker, P. Geo, a "Qualified Person" within the meaning of National Instrument 43-101.
About Big Dougie
Big Dougie is engaged in advancing mineral exploration on properties in Chile that exhibit promising potential for gold, copper, silver and cobalt as a result of historical mining activities on, or associated with, such properties. Big Dougie is currently advancing its flagship "Coba SW" property which is located in the historic, high grade gold and copper, Carrizal Alto mining district.
Big Dougie's common shares are listed on the TSX-V under the symbol "STUV". More extensive information on management's plans pertaining to the Coba SW property may be viewed on sedar.com.
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Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include but are not limited to details concerning exploration results and plans. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the future results and events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the price of metals including gold, silver copper and cobalt; and the results of exploration programs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Big Dougie disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Coba SW property and has neither approved nor disapproved the contents of this news release.
For further information, please contact:
Alliance Capital Partners
Phone: (403) 618 6507
Email: [email protected]
Big Dougie Capital Corp.
Email: [email protected]
SOURCE: Big Dougie Capital Corp.