Vancouver, British Columbia–(ACN Newswire – February 26, 2024) – Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: A1W038) (the “Company or “Doubleview”) is pleased to announce analyses from the final five Hat Property drill holes of the 2023 drill campaign. Drill holes H067 and H068 in the South Lisle Zone returned very significant intervals of copper and gold values that add important length and grade dimensions to the porphyry deposit. Drill holes H069 and H070, in the main Lisle zone, were strategically placed to verify and expand our exploration model and have increased the mineralization and shown near-surface continuation. The enhanced volume of mineralization will be reflected in the estimates included in the Maiden Resource Estimate (MRE) currently being prepared.
The Hat Porphyry project is located in the prolific “Golden Triangle” of the Stikine mining district of northwestern British Columbia, Canada, and is in a territory that hosts several large base and precious metal deposits. In addition to copper and gold, the Hat Deposit contains several critical metals, including Cobalt, and Scandium.
Mr. Farshad Shirvani, President and CEO, comments that “The 2023 program of drilling comprised almost 11,000 metres of drilling that explored and extended the Lisle deposit to west, south and southwest, enabled new interpretation of the deposit orientation and model, and revealed a new gold-silver-cobalt-rich area. Several previously unconnected mineral zones were joined and over-all dimensions were increased. A 4 meter section of hole H067 returned a remarkable 6.94% copper and 8.29 g/t gold (11.27% Cu Eq[-Sc] “Cu Eq calculated excluding Sc content”). Data for the Maiden Resource Estimate (MRE) were compiled and forwarded to an outside, arm’s length, consultant. When completed the MRE will be published and mark a very material progression in our development of the Hat deposit”.
South Lisle Zone:
Drill holes H067 and H068 returned strong Copper and Gold mineralization consistent with that reported from hole H034 and confirmed the apparent trend of mineralization to deeper and higher concentrations in the Lisle South area.
Drill hole H067:
Hole H067 intersected significant Gold and Copper mineralization over its entire length from 9 meters depth (see Table 1):
537.8 meters of 0.24g/t Au plus 0.17% Cu (0.34% Cu Eq[-Sc])
Including: 210.4 meters of 0.47g/t Au plus 0.47% Cu (0.64% Cu Eq[-Sc])
Including: 113.3 meters of 0.75g/t Au plus 0.52% Cu (1.01% Cu Eq[-Sc])
Including: 48.0 meters of 1.60g/t Au plus 1.03% Cu (2.01% Cu Eq[-Sc])
Including: 25.0 meters of 3.03g/t Au plus 1.95% Cu (3.77% Cu Eq[-Sc])
Drill hole H068:
Hole H068 intersected mineralization from near surface to total 618 meters, including stronger values at depth
103.0 meters of 0.20g/t Au plus 0.38% Cu (0.48% Cu Eq[-Sc])
Including: 67.0 meters of 0.27g/t Au plus 0.49% Cu (0.63% Cu Eq[-Sc])
Table 1: Significant South Lisle Zone Hole H067 and H068 assay intercepts
| DDH | From (m) | To (m) | Length (m) | Ag (g/t) | Au (g/t) | Co (g/t) | Cu (%) | Sc (g/t) | Cu Eq (%) incl Sc2O3 |
| H067 | 9 | 546.8 | 537.8 | 0.27 | 0.24 | 102.0 | 0.17 | 31.8 | 1.10 |
| Inc. | 9.0 | 366.0 | 357.0 | 0.33 | 0.33 | 128.5 | 0.21 | 30.7 | 1.18 |
| Inc. | 93.7 | 304.0 | 210.4 | 0.48 | 0.47 | 170.0 | 0.32 | 30.3 | 1.37 |
| Inc. | 110.0 | 339.0 | 229.0 | 0.45 | 0.48 | 176.5 | 0.31 | 29.6 | 1.35 |
| Inc. | 196.0 | 309.3 | 113.3 | 0.54 | 0.75 | 235.0 | 0.52 | 26.7 | 1.65 |
| Or | 267.0 | 315.0 | 48.0 | 0.76 | 1.60 | 337.5 | 1.03 | 23.5 | 2.57 |
| Inc. | 279.0 | 304.0 | 25.0 | 1.41 | 3.03 | 571.3 | 1.95 | 19.6 | 4.24 |
| Inc. | 298.0 | 302.0 | 4.0 | 3.61 | 8.29 | 714.1 | 6.94 | 16.0 | 11.65 |
| H068 | 21.0 | 618.0 | 597.0 | 0.24 | 0.10 | 75.1 | 0.12 | 34.4 | 1.01 |
| Inc. | 198.0 | 362.5 | 164.5 | 0.18 | 0.14 | 102.9 | 0.09 | 31.6 | 0.97 |
| Inc. | 202.0 | 229.0 | 27.0 | 0.47 | 0.40 | 278.8 | 0.25 | 28.3 | 1.26 |
| And | 488.0 | 591.0 | 103.0 | 0.71 | 0.20 | 84.6 | 0.38 | 35.3 | 1.33 |
| Inc. | 504.0 | 571.0 | 67.0 | 0.95 | 0.27 | 102.9 | 0.49 | 32.3 | 1.41 |
| Notes: – Metal equivalents should not be relied upon for future evaluations. – Drill hole intercepts included in this news release are core lengths that may or may not be true widths of mineralization. It is not possible to determine true widths. **Copper Equivalent [ Cu Eq (%) incl Sc2O3 ] is estimated using the following metal values and equations: – *CuEq(%) =(Ag(g/t) x Price_Ag x Rec_Ag/31.1035 + Au(g/t) x Price_Au x Rec_Au/31.1035 + Co(%) x Price_Co x Rec_Co x 22.0462 + Cu(%)x Price_Cu x Rec_Cu x 22.0462 + Sc(g/t) x Price_Sc x Rec_Sc x Sc_con) / (Price_Cu x 22.0462) – Price_Ag = $22.20/troy oz, Price_Au=$1,812.14/ troy oz, Price_Co = $23.30/lb, Price_Cu = $3.84/lb, Price_Sc = $1.5/g – Rec_Ag = 68% , Rec_Au = 89% , Rec_Co = 78%, Rec_Cu = 84% , Rec_Sc = 88% | |||||||||
Main Lisle Zone:
Drill holes H069 and H070 explored near-surface mineralization and filled a gap between the hole H022-H023 area and hole H034, an area of strong values. Drill hole H071 significantly extended H034 mineralization. Table 2 includes significant intervals.
Drill hole H069: Intersected 411m of mineralization from near surface including several intervals of note:
253 meters 0.14g/t Au plus 0.21% Cu (0.30% Cu Eq[-Sc])
Including:
135 meters of 0.18g/t Au plus 0.30% Cu (0.40% Cu Eq[-Sc])
115 meters of 0.20g/t Au plus 0.33% Cu (0.43% Cu Eq[-Sc])
52.4 meters of 0.18g/t Au plus 0.44% Cu (0.50% Cu Eq[-Sc])
Drill hole H070: Intersected long intervals of mineralization with uniformly elevated gold values and sections of strong cobalt.
158.5 meters 0.26g/t Au plus 0.17% Cu (0.35% Cu Eq[-Sc])
Including:
133.4 meters of 0.31g/t Au plus 0.20% Cu (0.40% Cu Eq[-Sc])
96.0 meters of 0.40g/t Au plus 0.25% Cu (0.50% Cu Eq[-Sc])
Drill hole H071: Intersected long intervals of moderate copper, gold and silver values and 1m with very high silver, gold, cobalt and copper.
207.9 meters 0.17g/t Au plus 0.17% Cu (0.29% Cu Eq[-Sc])
Including:
24.9 meters of 0.45g/t Au plus 0.13% Cu (0.43% Cu Eq[-Sc])
82.0 meters of 0.18g/t Au plus 0.29% Cu (0.39% Cu Eq[-Sc])
1.0 meters of 2.31g/t Au plus 2.01% Cu (3.44% Cu Eq[-Sc])
Table 2. Significant South Lisle Zone Hole H069 and H070 and H071 assay intercepts
| DDH | From (m) | To (m) | Length (m) | Ag (g/t) | Au (g/t) | Co (g/t) | Cu (%) | Sc (g/t) | Cu Eq (%) incl Sc2O3 |
| H069 | 39.0 | 450.0 | 411.0 | 0.36 | 0.12 | 63.1 | 0.15 | 23.1 | 0.78 |
| Inc. | 159.0 | 412.0 | 253.0 | 0.45 | 0.14 | 68.8 | 0.21 | 22.2 | 0.83 |
| Inc. | 232.0 | 410.0 | 178.0 | 0.57 | 0.16 | 64.5 | 0.25 | 20.1 | 0.82 |
| Inc. | 232.0 | 367.0 | 135.0 | 0.67 | 0.18 | 66.4 | 0.30 | 19.9 | 0.87 |
| Inc. | 252.0 | 367.0 | 115.0 | 0.76 | 0.20 | 70.8 | 0.33 | 19.3 | 0.89 |
| Inc. | 301.0 | 353.4 | 52.4 | 1.15 | 0.18 | 47.3 | 0.44 | 14.8 | 0.86 |
| H070 | 49.0 | 207.5 | 158.5 | 0.44 | 0.26 | 88.0 | 0.17 | 24.4 | 0.93 |
| Inc. | 58.0 | 191.4 | 133.4 | 0.49 | 0.31 | 93.4 | 0.20 | 23.8 | 0.97 |
| Or | 24.0 | 138.0 | 114.0 | 0.47 | 0.30 | 83.6 | 0.15 | 23.5 | 0.91 |
| Inc. | 93.0 | 189.0 | 96.0 | 0.56 | 0.40 | 93.4 | 0.25 | 23.6 | 1.06 |
| Inc. | 126.0 | 134.0 | 8.0 | 1.90 | 2.01 | 332.9 | 0.78 | 20.9 | 2.55 |
| Inc. | 288.0 | 290.0 | 2.0 | 7.03 | 0.47 | 555.0 | 2.64 | 15.7 | 3.19 |
| H071 | 141.0 | 414.0 | 273.0 | 0.30 | 0.15 | 84.0 | 0.16 | 26.5 | 0.90 |
| Inc. | 175.1 | 200.0 | 24.9 | 0.25 | 0.45 | 76.9 | 0.13 | 26.2 | 1.05 |
| Inc. | 298.0 | 380.0 | 82.0 | 0.49 | 0.18 | 82.0 | 0.29 | 25.1 | 0.99 |
| Inc. | 304.0 | 305.0 | 1.0 | 4.03 | 2.31 | 669.0 | 2.01 | 12.7 | 3.75 |
| Notes: – Metal equivalents should not be relied upon for future evaluations. – Drill hole intercepts included in this news release are core lengths that may or may not be true widths of mineralization. It is not possible to determine true widths. **Copper Equivalent [ Cu Eq (%) incl Sc2O3 ] is estimated using the following metal values and equations: – *CuEq(%) =(Ag(g/t) x Price_Ag x Rec_Ag/31.1035 + Au(g/t) x Price_Au x Rec_Au/31.1035 + Co(%) x Price_Co x Rec_Co x 22.0462 + Cu(%)x Price_Cu x Rec_Cu x 22.0462 + Sc(g/t) x Price_Sc x Rec_Sc x Sc_con) / (Price_Cu x 22.0462) – Price_Ag = $22.20/troy oz, Price_Au=$1,812.14/ troy oz, Price_Co = $23.30/lb, Price_Cu = $3.84/lb, Price_Sc = $1.5/g – Rec_Ag = 68% , Rec_Au = 89% , Rec_Co = 78%, Rec_Cu = 84% , Rec_Sc = 88% | |||||||||
Table 3. Drill Hole Data
| Drill Hole ID | UTM – East | UTM – North | Elevation | Max-Depth (m) | Azimuth | Dip | Area |
| H067 | 347,866 | 6,453,619 | 938.0 | 549.0 | 300.0 | -60.3 | South Lisle (Gold Rich Zone) |
| H068 | 347,866 | 6,453,619 | 938.0 | 618.0 | 310.0 | -68.5 | South Lisle (Gold Rich Zone) |
| H069 | 347,865 | 6,453,953 | 956.5 | 459.0 | 18.0 | -75.0 | Main Lisle Zone |
| H070 | 347,866 | 6,453,953 | 956.5 | 600.0 | 55.0 | -70.0 | Main Lisle Zone |
| H071 | 347,866 | 6,453,953 | 956.5 | 411.0 | 170.0 | -70.0 | South Lisle (Gold Rich Zone) |
Figure 1 : Drill Plan with IP Chargeability (at 700m masl)
Figure 2A. Vertical Section (A-A’) along the drill holes H067, H068 at South Lisle Zone
Figure 2B. Vertical Section (B-B’) along the drill holes H069, H070, H071 at Main Lisle Zone
Scandium:
Scandium, one of the rarest metals, is deemed “critical” by Canadian and American federal governments. The Hat deposit is one of a small number of North American deposits that potentially contains significant amounts of scandium:
Scandium is utilized in various industries due to its unique properties, especially when alloyed with aluminum. Applications take advantage of scandium’s ability to enhance the strength, durability, and thermal resistance of aluminum, making the resultant alloy ideal for aerospace, military, and automotive industries. Additionally, scandium finds applications in the manufacturing of solid oxide fuel cells, where it serves as a critical component due to its electrical conductivity and heat resistance. These fuel cells are used in power generation with high efficiency and low emissions. Other industries that benefit from the use of scandium include lighting, electronics, and 3D printing, leveraging its capacity to improve the performance of materials and components within these sectors.
Quality Assurance and Quality Control:
Core samples were prepared at the North Vancouver facility of ALS Canada Ltd. using their PREP-31, PGM-ICP24, ME-MS61, and ME-ICP06 packages. Each core sample is dried, then crushed to 70% passing a 2mm screen. All material is processed in an automatic Riffle splitter to yield a 250g 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 50g fire-assay fusion/ICP-ES finish, using PGM-ICP24 package. A separate 0.25g pulp split is analyzed by Four Acid digestion/ICP-MS finish, reporting 48 elements. Over limit elements are analyzed by Ore Grade Four Acid digestion/ICP-ES finish using ME-OG62 assay package. All of Doubleview’s core samples are analyzed or assayed at independent ISO 17025 and ISO 9001- certified laboratories.
Doubleview maintains a website at www.doubleview.ca.
Qualified Persons:
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 in the company.
Cautionary Note: Although a mineral resource estimation is currently being prepared by an independent engineering firm, no mineral resources have been estimated at the Hat Property and there is no assurance that further work will result in the Lisle Zone, or other zones if present, being classified as mineral 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 (TSXV: DBG) (OTCQB: DBLVF) (GER: A1W038) (FSE: 1D4). 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. The Company’s portfolio of strategic properties provides diversification and mitigates investment risks.
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: corporate@doubleview.ca
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Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199246
Topic: Press release summary