DBV.v Doubleview Capital drills 110.9 m of 0.73% CuEq at Hat
2015-02-03 16:26 ET - News Release
Mr. Farshad Shirvani reports
DOUBLEVIEW DRILLING RETURNS HIGHEST GOLD AND COPPER GRADES ENCOUNTERED AT HAT PROJECT
Gold-copper mineralization in Sheslay Red Stock continues to increase at depth in drill hole H-23, with Doubleview Capital Corp. having just received assay results returning the strongest gold-copper values encountered at the Hat project since first-ever drilling commenced in 2013.
Highlights are as follows:
A second and wider pyrite-rich zone in H-23 returned 0.73 per cent copper equivalent (0.36 gram per tonne gold and 0.47 per cent copper) in a 110.9-metre section beginning at a depth of 270.6 metres, including 74.2 metres grading 0.96 per cent copper equivalent (0.45 gram per tonne gold and 0.61 per cent copper).
Assays are pending for a third, wider chalcopyrite-pyrite zone that was visually observed to extend for at least 120 metres beginning at a depth of 402 metres, the current end of sampling.
H-23, with the best gold grades of any hole drilled so far at the Hat project, confirms the presence of a very large and robust porphyry system with growing potential for discovery of a high-grade gold-copper core.
Drill hole H-23 to 400 metres
Gold and copper mineralization in H-23 started at a depth of less than 60 metres, and the hole through 400 metres also features sections with elevated values of molybdenum, zinc and cobalt substantially higher compared with earlier holes. The potential significance of this is being reviewed by Doubleview's technical team.
A 278.2-metre interval from 67.9 metres to 346.2 metres returned 0.28 gram per tonne gold, 0.65 gram per tonne silver and 0.32 per cent copper (0.53 per cent copper equivalent).
Farshad Shirvani, Doubleview president and chief executive officer, commented: "Drill hole H-23 elevates the Hat project to a new level. We're eagerly anticipating assay results from the last 250-metre section that was completed just prior to the December break. Those results may necessitate extending the hole beyond its present depth of 650 metres.
"In just 23 holes, we've taken the Hat from a grassroots stage to the point where it is now showing significant potential as an important new porphyry discovery in the underexplored and prolific Sheslay district just over 100 kilometres northwest of the Red Chris mine. New infrastructure has added to the already huge opportunities for additional major discoveries and mining development in this part of the province."
Drill hole H-23, drilled from the north toward the south, extended the northern boundary of the Lisle zone mineralization by approximately 110 metres (the Lisle zone of the Hat system is now half a kilometre wide and one kilometer long) and also confirmed that strong mineralization is present about 220 metres below the zone encountered in drill hole H-22, the nearest drill hole.
SIGNIFICANT ASSAY RESULTS -- H-23
DDH From To Length Au Cu Ag CuEq
(m) (m) (m) (g/t) (%) (g/t) (%)
H-23 67.9 400.3 332.4 0.25 0.29 0.56 0.48
Including 67.9 346.2 278.2 0.28 0.32 0.65 0.53
Including 186.3 226.7 40.4 0.61 0.35 0.44 0.79
Including 270.6 381.6 110.9 0.36 0.47 0.34 0.73
Including 271.9 346.2 74.2 0.46 0.62 0.44 0.96
H-23 400.3 650.0 Assays pending
True width is unknown.
Results for the remaining 250 metres of drill hole H-23 will be released as soon as they are received, reviewed and interpreted.
Note: Percentage of copper equivalent is estimated as follows -- copper equivalent is calculated for copper at $2.54 per pound, gold at $1,265 per ounce and silver at $17 per ounce.
Quality assurance and quality control
Drill hole H-23 samples were prepared and analyzed following industry-standard quality assurance/quality control protocols. Fifteen samples with gold, silver and copper values that varied in the range of 0.006 to part per million 2.903 parts per million for gold, 0.005 part per million to 70 parts per million for silver and 0.0162 per cent to 1.55 per cent for copper were submitted to a second independent fully accredited laboratory. The company is satisfied that the comparisons are within acceptable limits for a porphyry deposit but will continue monitoring the reliability of all analytical results.
Doubleview observes industry-standard quality assurance and quality control protocols. All drill cores are sampled on site by sawing the core lengthwise and placing one-half securely in a bag for transfer to the prep lab; one-half is retained on site for future reference. All core samples are submitted to an independent, fully accredited, ISO 9001:2008-certified analytical laboratory, where gold is determined by fire assay and atomic absorption (AA) methods and for 45 other elements by four-acid digestion followed by induced coupled plasma/emission spectrometry (ICP-ES) determination. Samples with copper content greater than the ICP upper detection limit (more than 10,000 parts per million) are analyzed by atomic absorption.
Quality assurance/quality control protocols are observed at all stages of core processing, including security in transit of samples with chain-of-custody documentation, preparation of duplicate samples from pulps, insertion of standard samples into the sample stream, replicate analyses of samples and performance of check assaying by a second independent laboratory. In the recent past, data were reviewed by an independent consultant who found all analytical data to be acceptable in terms of reproducibility.
Qualified person
Erik A. 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. He is not independent of Doubleview as he is both a shareholder and a co-optionor of the Hat project.
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