Doubleview Announces Another Discovery on the Hat Property

Rhea-AI Summary

Doubleview Gold Corp. announced the discovery of a new mineralization zone at its 100% owned Hat property in British Columbia's Golden Triangle. Drill hole H-037, the first to test a new IP Chargeability target, suggests significant potential for extending the Lisle Zone. Core samples reveal sulphide mineralization, including Chalcopyrite and Magnetite. This new zone, designated the 'O Zone,' may enhance the property's gold and copper potential. Assay results are pending, as exploration continues.

Positive

• Discovery of new 'O Zone' at Hat property indicates potential for significant mineralization expansion.
• Drill hole H-037 shows promising sulphide mineralization, including Chalcopyrite and Magnetite.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / December 8, 2020 / Doubleview Gold Corp. ("Doubleview", "Company") (TSXV:DBG)(OTC PINK:DBLVF)(FRANKFURT:1D4) is pleased to announce the discovery of a new zone of mineralization at its 100% owned Hat gold rich copper porphyry property located in the "Golden Triangle" of northwestern British Columbia. Drill hole H-037 is the first hole drilled into a previously untested IP Chargeability target; preliminary core observations including similar mineral and alteration assemblage, suggest that it potentially could be a significant extension of the Lisle Zone that has been the focus of all recent exploration. The new area of interest has been partially defined by historic and most recent 3D induced polarization surveys and, pending better definition by drilling and surveys for its metallic content and size parameters, has been designated the "O Zone".

Drill hole H-037 is located as follows: collar: UTM Zone 9, 346,567E, 6,453,758N; inclination - 60°, Azimuth 290 °; final length 750.1 metres and extends 375 m laterally and 650 m vertically and it is collared 1460 metres west of the apparent center of the Lisle Zone which has extended the exploration domain to approximately 2050 metres.

Core is being processed on site with sawn half-core samples forwarded directly to an accredited independent analytical laboratory and remaining half-core retained for future reference. Core handling procedures observe QA/QC standards, including chain of custody and transfer by bonded carriers. Laboratory methods employ routine sample preparation, and insertion of certified standards, blanks and replicate samples in each batch. Assay results will be reported when received and verified. Core information will be added to the database and used in planning future property work including drilling and technical surveys.

"O Zone" Characteristics

• Sulphide mineralization throughout
• Mineral assemblage includes Chalcopyrite, Magnetite, Pyrite, Quartz and possibly Chalcocite
• Porphyry-style sulphide and rock alteration suites
• High silica (Quartz) content in stockwork veins and in fractures - a significant difference from Lisle Zone

Fracture filled and Disseminated Chalcopyrite with Quartz veins in Pyroxenite

Massive and disseminated Chalcopyrite

Mr. Farshad Shirvani, President and CEO, comments that "We are hopeful that this new mineral zone will become an important addition to the gold and copper endowment of the Hat property. The mineralization footprint has been significantly extended to the west and our confidence in the 3D deep-penetrating induced polarization geophysical method is boosted."

Drawing 1 is a vertical section that illustrates drill hole H-037 and the chargeability anomaly.

Drawing 2 is a plan view of the property that illustrates IP anomalies and all drill holes.

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 of 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], [OTCBB: DBLVF], [GER: A1W038], [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. Doubleview's portfolio of strategic properties provides diversification and mitigates investment risk.

On behalf of the Board of Directors,

Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp
Vancouver, BC, V6C 1V5
Farshad Shirvani, President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca

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 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.

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.

SOURCE: Doubleview Gold Corp.

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FAQ

What is the significance of the new 'O Zone' discovery by Doubleview Gold Corp.?

The 'O Zone' discovery at the Hat property may significantly expand the mineralization footprint, enhancing the company's gold and copper resources.

What were the results of drill hole H-037?

Drill hole H-037 revealed promising mineralization with sulphides, suggesting potential for extending existing mineral zones.

When will assay results from the new mineral zone be available?

Assay results from the core samples taken from drill hole H-037 are pending and will be reported once verified.

How does the discovery affect Doubleview Gold Corp.'s valuation?

The discovery of the 'O Zone' may improve Doubleview's valuation by increasing the potential resources at the Hat property.

What is the location of the Hat property?

The Hat property is located in the Golden Triangle of northwestern British Columbia, a region known for its rich mineral deposits.