Doubleview Announces First Drill Results of This Season

Rhea-AI Summary

Doubleview (TSXV: DBG) (OTCQB: DBLVF) has announced the first drill results from its 2024 campaign at the Hat polymetallic porphyry in British Columbia. Highlights include:

• Drill hole H072: 686.0m of 0.23% Cu, 0.16 g/t Au, and 25.7 g/t Sc (0.38% CuEq*)
• Including 154.0m of 0.66% Cu, 0.46 g/t Au, and 24 g/t Sc (1.07% CuEq*)
• And 62.0m of 1.12% Cu, 0.79 g/t Au, and 23.9 g/t Sc (1.81% CuEq*)

The drill holes were directed towards untested central areas of the Lisle Zone, validating the existing block model and enhancing confidence in its accuracy. The results support the company's objective of demonstrating continuity and improving geological models for an upcoming enhanced resource estimate.

Positive

• High-grade copper and gold mineralization discovered in drill hole H072
• Drill results validate and enhance the existing block model
• Increased data density for upcoming enhanced resource estimate
• Long intervals of strong copper mineralization continue to be observed

Negative

• None.

Highlights:
62.0m of 1.12% Cu, 0.79 g/t Au, and 23.9 g/t Sc (1.81 % CuEq*, not incl. Sc)
in 154.0m of 0.66% Cu, 0.46 g/t Au, and 24 g/t Sc (1.07% CuEq*, not incl. Sc)

Vancouver, British Columbia--(Newsfile Corp. - October 16, 2024) - Doubleview (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the "Company or "Doubleview") is pleased to announce the first set of drill hole assay results from its 2024 drilling campaign at its 100% owned Hat polymetallic porphyry in northwestern British Columbia.

Highlights and significant downhole intervals include the following:

Drill hole H072:

• 686.0m of 0.23% Cu, 0.16 g/t Au, 64 g/t Co, 0.33 g/t Ag and 25.7 g/t Sc (0.38% CuEq*)
• including 154.0m of 0.66% Cu, 0.46 g/t Au, 112 g/t Co, 0.96 g/t Ag and 24 g/t Sc (1.07% CuEq*)
• including 62.0m of 1.12% Cu, 0.79 g/t Au, 173 g/t Co, 1.62 g/t Ag and 23.9 g/t Sc (1.81 % CuEq*)
• including 2.0m of 5% Cu, 2.96 g/t Au, 511 g/t Co, 5.03 g/t Ag and 7 g/t Sc (7.48% CuEq*)

Drill hole H073:

• 109m of 0.29% Cu, 0.21 g/t Au, 83 g/t Co, 0.47 g/t Ag and 29.6 g/t Sc (0.5% CuEq*).

Drill hole H074:

• 128 m of 0.18%Cu, 0.14 g/t Au, 82 g/t Co, 0.29 g/t Ag and 29 g/t Sc (0.33% CuEq*)

(Note 1: CuEq currently does not include the Scandium)

H073, depth: 420m, strong chalcopyrite mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8003/226781_625f86a28402e955_001full.jpg

The recent drill holes were strategically directed towards untested central areas of the Lisle Zone, which are integral to the block model developed by our consulting team for the Mineral Resource Estimate (MRE). All three drill holes are situated within the mineral resource pit, as detailed in Doubleview's news release dated July 25, 2024. These drill results not only validate the existing block model but also provide additional data that enhances our confidence in its accuracy. In preparation for the upcoming enhanced resource estimate for the Hat deposit, our primary objective of demonstrating continuity, increasing the density of data, and further improving the quality of the geological models, has been successfully achieved. The three cross sections included in this release illustrate the intersected mineralization within the Hat polymetallic mineral deposit, highlighting the mineralized blocks for each drill hole.

Figure 1: Drill hole H072

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Figure 2: Drill hole H073

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Figure 3: Drill hole H074

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Farshad Shirvani, President and CEO, comments that, "The objectives of the 2024 drilling program are to enhance the data intensity where it is warranted, identify additional near surface copper and gold mineralization, and increase the tonnage and volume of the Hat deposit. These drill holes provide important geological information and data that bridge the area between drill holes H034 and H031, H012 and H071 while verifying the block model. We are pleased to see the years of work on the Hat project come to fruition, particularly to see the continuation of long intervals of strong copper mineralization."

Table 1 lists significant assay intercepts of drill holes H072 to H074

DDH	From (m)	To (m)	Length (m)**	Cu (%)	Au (g/t)	Co (g/t)	Ag (g/t)	Sc (g/t)	CuEq (%) not incl Sc*
H072	62.0	686.0	624.0	0.23	0.16	64	0.33	25.7	0.38
incl.	80.0	586.6	506.6	0.27	0.19	71	0.38	25.8	0.45
incl.	161.7	543.0	381.3	0.34	0.25	81	0.47	26.1	0.57
incl.	382.0	536.0	154.0	0.66	0.46	112	0.96	24.0	1.07
incl.	382.0	384.0	2.0	5.00	2.96	511	5.03	7.0	7.48
incl.	411.0	536.0	125.0	0.70	0.50	117	1.06	23.9	1.14
incl.	440.0	502.0	62.0	1.12	0.79	173	1.62	23.9	1.81
incl.	452.0	463.0	11.0	2.36	1.95	345	3.17	17.0	3.99
H073	159.0	424.0	265.0	0.16	0.15	76	0.29	26.3	0.32
incl.	282.0	424.0	142.0	0.25	0.18	82	0.41	29.4	0.43
incl.	315.0	424.0	109.0	0.29	0.21	83	0.47	29.6	0.50
incl.	378.0	424.0	46.0	0.42	0.31	89	0.69	27.5	0.70
H074	95.8	409.0	313.3	0.12	0.12	88	0.25	26.4	0.26
incl.	148.0	195.0	47.0	0.09	0.12	106	0.17	22.7	0.24
incl.	281.0	409.0	128.0	0.18	0.14	82	0.29	29.0	0.33

 

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.
- Parameters used to calculate Copper Equivalent:
Au price (US$/oz): 1900; Ag price (US$/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%.

* 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.

** Downhole core lengths, true widths are unknown

Table 2 illustrates the location and direction of the reported drill holes:

DDH ID	UTM-East	UTM-North	Elevation (m)	Max-Depth (m)	Azimuth (°)	Dip (°)
H072	347,866	6,453,952	956.5	761	212	75
H073	347,866	6,453,952	956.5	771	225	85
H074	347,866	6,453,952	956.5	609	262	85

 

H073, depth 563.8m: Chalcopyrite mineralization (+ spotty Pyrite) in Epidote vein

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H074, depth 412m: Chalcopyrite mineralization

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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.

About Doubleview Gold Corp

A mineral resource exploration and development company is headquartered in Vancouver, British Columbia, Canada. It is publicly traded on the TSX-Venture Exchange (TSXV: DBG) (OTCQB: DBLVF) (GER: A1W038), and (FSE: 1D4). Doubleview focuses on identifying, acquiring, and financing precious and base metal exploration projects across North America, with a strong emphasis on British Columbia. The company enhances shareholder value through the acquisition and exploration of high-quality gold, copper, cobalt, scandium, and silver projects-collectively critical minerals-utilizing cutting-edge exploration techniques.

Doubleview's success is deeply rooted in the unwavering support of its long-term shareholders, supporters, and institutional investors. Their ongoing commitment has been instrumental in advancing the company's strategic initiatives. Doubleview looks forward to further collaborative growth and development and continues to welcome active participation from its valued stakeholders as the company expands its portfolio and strengthens its position in the critical minerals sector.

About the Hat Polymetallic Deposit

The Hat Deposit, located in northwestern British Columbia, is a polymetallic porphyry project with major resources of copper, gold, cobalt, and the potential for scandium. As one of the region's significant sources of critical minerals, the Hat deposit has undergone targeted exploration and development. The 0.2% CuEq cut-off resource estimate, as of the recently completed Mineral Resource Estimate and the Company's July 25, 2024 news release, is summarized below:

Open Pit Model Hat	Resource Category	Tonnage	Average Grade					Metal Content
			CuEq	Cu	Co	Au	Ag	CuEq	Cu	Co	Au	Ag
		Mt	%	%	%	g/t	g/t	million lb	million lb	million lb	thousand oz	thousand oz
In Pit	Indicated	150	0.408	0.221	0.008	0.19	0.42	1,353	733	28	929	2,045
	Inferred	477	0.344	0.185	0.009	0.15	0.49	3,619	1,945	91	2,328	7,575

 

Scandium potential for the Hat Deposit is estimated to be 300 to 500 million tonnes at an average grade of 40 ppm (0.004%) Sc₂O₃.

For further details, please refer to the Company's July 25, 2024 news release.

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

Institutional Investor Line: (604) 607-5470

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/226781

FAQ

What were the key findings in Doubleview's (DBLVF) latest drill results?

Doubleview's latest drill results from the Hat project revealed significant mineralization, with drill hole H072 showing 686.0m of 0.23% Cu, 0.16 g/t Au, and 25.7 g/t Sc (0.38% CuEq*), including higher-grade intervals of 154.0m at 1.07% CuEq* and 62.0m at 1.81% CuEq*.

How do the new drill results impact Doubleview's (DBLVF) Hat project development?

The new drill results validate the existing block model, increase data density, and improve geological models for the Hat project. This data will contribute to an upcoming enhanced resource estimate, potentially increasing the project's value and advancing its development.

What is the significance of scandium in Doubleview's (DBLVF) Hat project drill results?

Scandium is present in significant quantities in the drill results, with values up to 29.6 g/t Sc reported. However, it's not currently included in the copper equivalent calculations, suggesting potential additional value that's not yet factored into the project's economics.

Where is Doubleview's (DBLVF) Hat polymetallic porphyry project located?

Doubleview's Hat polymetallic porphyry project is located in northwestern British Columbia, Canada. The project is 100% owned by the company and is the focus of their current drilling campaign.