Doubleview Capital (DBV-V) nears phase I drilling completion at Hat
June 13, 2013 - News Release
Doubleview Capital Corp. has provided an update on its diamond drilling program at the Hat copper-gold porphyry project located in the Stikine mining district of northwestern British Columbia. The drilling program is the first substantial exploration work on the property since 1979, and is 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. Diamond drilling commenced on May 24, 2013, and five drill holes, with total length 1,091.7 metres, have been completed. Drill holes Hat 1 to Hat 5 intersected altered andesitic volcanic rocks and dioritic intrusive rocks with short intercepts of weak to strong pyrite and chalcopyrite mineralization, but did not fully account for the anomalies.
Drill hole Hat 6, in progress, was the initial test of a separate geophysical target located 800 metres south of holes Hat 1 to Hat 5. Initial reports from the field indicate that sulphide mineralization comprising pyrite and chalcopyrite is present from near surface to current depth of 230 metres.
The current phase I program of drilling is nearing completion. Drill cores are being logged and sampled on site, and are being submitted to an accredited laboratory for analysis by industry-standard procedures. Quality assurance/quality control protocols are being observed. Analytical results will be released when they are received.
About the Hat project
The Hat project is a highly regarded early stage exploration prospect, with a history of surface exploration (the historical exploration timeline is available on the company's website), that is 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 prefeasibility 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.
Doubleview holds an option to acquire a 100-per-cent interest in the Hat project, subject to a 2-per-cent net smelter return royalty. The Hat project, located 95 kilometres west of Dease Lake, comprises six mineral tenures with total area 1,891 hectares and includes several drill-ready copper-gold exploration targets.
Erik A. Ostensoe, PGeo, 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, 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.
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