Engages Tahltan Drilling Services Ltd. for drilling on the Hat Copper Gold Porphyry Project
Jul 03, 2012 -- Doubleview Capital Corp. ("Doubleview") (TSX.V:DBV) is pleased to announce that it has signed a contract with Tahltan Drilling Services Ltd. to complete a minimum of 1,000 meters of core drilling at the Company's Hat Copper Gold Porphyry Project in British Columbia. Contract is subject to completion of the previously announced financing with Raymond James Ltd..
Hat Copper-Gold Alkalic Porphyry Project, Stikine District:
Doubleview has been issued a multi-year permit for the exploration and diamond drilling of its Hat Copper-Gold Porphyry Project ("Hat Project"), located in the Dease Lake area of British Columbia. Doubleview has identified several copper-gold and gold drill targets within the permitted area and plans to commence an exploration and drilling program in 2012.
Highlights of the planned 2012 exploration and drill program include:
1.Induced polarization geophysical surveys to better define the position and dimension of exploration targets. 2.An initial program of diamond drilling. Detailed planning for a 1,500 metre minimum drilling program is in progress. Preliminary work includes compilation and integration of all historic and recent exploration data. 3.Soil geochemical surveys will be extended into under-explored parts of the Hat Project.
Drill hole locations will be determined by reference to all available information. The historic database, which includes rock chip samples with as much as 8.9 g/tonne gold and 4.8% copper, was enhanced by Doubleview's 2011 MMI soil geochemical survey of 587 samples that outlined and confirmed several copper-gold geochemical anomalies.
About the Hat Property
Doubleview holds an option to acquire a 100% interest in the Hat Project, subject to a 2% net smelter return that is retained by the optionors. The Property, located 95 km west of Dease Lake, comprises six mineral tenures with total area 1891 hectares and includes drill-ready copper-gold exploration targets.
The Hat Project is a highly regarded early stage exploration prospect, with a history of surface exploration (Historical exploration timeline is available on the company's website), 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), Galore Creek (Novagold and Teck), and Kutcho (Capstone) where permitting, environmental studies and pre-feasibility studies are in progress. The Hat Project was last investigated by a major company in 1979 and present day exploration methods have not been applied.
Erik A. Ostensoe, P. Geo, 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 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.
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview's control. Such factors include, among other things: risks and uncertainties relating to Doubleview's ability to complete the proposed private placement financing, implement its drill program on the Hat Property, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.
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