Vancouver, British Columbia--(Newsfile Corp. - September 12, 2024) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) ("Doubleview" or the "Company") is pleased to announce an update on work at its Hat property in Northwestern British Columbia. The wholly owned Hat Project hosts a large copper-gold-cobalt porphyry-type mineral deposit that was discovered in 2014 and has since been explored by technical surveys and drilling, 79 diamond drill holes with a total length of 36,579.88 metres.
In the 2024 season, Doubleview has drilled more than 5,300 m in 8 drill holes. This drill campaign is directed to the Lisle Zone where an initial Mineral Resource Estimate ("MRE-V1"), prepared by independent consultants, reported an indicated resource of 150 million tonnes (Mt) and an inferred resource of 477 Mt at 0.2% copper equivalent ("CuEq**") cut-off grade* as well as a scandium potential of an estimated 300 to 500Mt at an average grade of 40ppm. The MRE-V1 figures are: indicated resource of 1.353 billion pounds (Blb) of CuEq at 0.408% CuEq, which includes 733 million pounds (Mlb) of copper, 28 Mlb of cobalt, 929 thousand ounces of gold and 2 million ounces of silver and inferred resource of 3.619 Blb of CuEq at 0.344% CuEq, which includes 1.945 Blb of copper, 91 Mlb of cobalt, 2.328 million ounces of gold and 7.575 million ounces of silver.
For more information on this MRE-V1, please see the Company's news release dated July 25, 2024.
* Parameters used to calculate cut-off grade:
Au price US$/oz: 1,900; Ag price US$/oz: 24; Cu price US$/lb: 4; Co price US$/lb: 22; Au recovery: 89.0%; Ag recovery: 68.0%; Cu recovery: 84.0%; Co recovery: 78.0%; Mining cost US$/t (OP): 2.5; Processing Cost US$/t: 6; G&A Cost US$/t: 2
** Copper Equivalent Calculation
CuEq in % = ([Ag grade in ppm] *24*0.68/31.1035 + [Au grade in ppm] *1900*.89/31.1035 + 0.0001* [Co grade in ppm] *22*0.78*22.0462 + 0.0001* [Cu grade in ppm] *4*0.84*22.0462)/(4*22.0462*0.84). Scandium is not part of the copper equivalent calculation.
Current drilling will increase data density to promote the MRE-V1 to higher levels of confidence for inclusion in a follow up MRE ("MRE-V2").
Accompanying photographs illustrate sections of high-grade sulphide and magnetite mineralization, a common type of mineralization for the Hat deposit that has repeatedly been observed during the present drill campaign.
H072, depth: 383m, massive chalcopyrite; H072 was designed to penetrate between H034 and H031.
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H073, depth: 284.5m, strong potassic alteration (red-orange colour) and strong magnetite. H072 was designed to increase data density between H012 and H071.
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H075, vertical hole, depth: 230.4m, massive chalcopyrite. H075 was designed to better define lithology and mineralization of drill holes H073 and H074.
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H075, depth: 231m, chalcopyrite.
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H076, depth: 29.5m. H076 is probing the zone between H012 and H031.
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H077, depth: 144.4m, pyrite, chalcopyrite and magnetite. H077 was designed to test the area between H052 and H19.
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H077, depth: 278.2m, potassic alteration, chalcopyrite.
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Farshad Shirvani, President & CEO of Doubleview stated: "We are encouraged by the strength of the sulphide mineralization that confirms our geologic and mineralization model. As always, observations provide further clues to help us understand the genesis and formation of the Hat deposit."
Drill cores from the recently completed drill holes display numerous intervals of massive mineralization and textures and alteration that may be related to nearby intrusive rock formations that may be the source of the Hat deposit's mineralizing fluids.
| Hole # | East, UTM Z9 | North, UTM Z9 | Elevation (m) | Depth (m) | Azimuth | Dip | Number of samples |
| H072 | 347865.9 | 6453951.5 | 956.5 | 761 | 212 | 75 | 426 |
| H073 | 347865.9 | 6453951.5 | 956.5 | 771 | 225 | 85 | 441 |
| H074 | 347865.9 | 6453951.5 | 956.5 | 609 | 262.1 | 85 | 355 |
| H075 | 347865.9 | 6453951.5 | 956.5 | 537 | 0 | 90 | 344 |
| H076 | 347865.9 | 6453951.5 | 956.5 | 660 | 262.1 | 75 | 367 |
| H077 | 347865.9 | 6453951.5 | 956.5 | 531 | 300 | 75 | 311 |
| H078 | 347865.9 | 6453951.5 | 956.5 | 708 | 120 | 75 | 434 |
| H079 | 347865.9 | 6453951.5 | 956.5 | 732 | 120 | 57 | 415 |
| 5,309 | 3,093 |
Samples of all cores are being prepared at the Hat camp and forwarded to an independent ISO-certified analytical laboratory for assaying. All standard QA/QC protocols are being observed. Significant assay results will be released when received from the laboratory.
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.
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], [OTCQB: DBLVF], [Frankfurt: 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
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.
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/223097
SOURCE: Doubleview Gold Corp.
