Doubleview Provides Drilling Update at its Hat Gold Rich Copper Porphyry

Rhea-AI Summary

Doubleview Gold Corp. has announced progress in exploration drilling at its 100% owned Hat property in British Columbia. The drill hole H-037, aimed at the center of a significant chargeability anomaly, is set to expand the exploration area to about 2050 meters. The company is optimistic about the current rise in copper prices and its cash position, positioning it favorably for future growth. Additionally, Doubleview has successfully closed a private placement, raising approximately $1.77 million, contributing to a total of around $4.51 million from recent placements.

Positive

• Successful drilling at Hat property expands exploration area to 2050 meters.
• Raised a total of $4,510,079.25 through private placements.
• Rising copper prices enhances market outlook for the company.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / December 1, 2020 / Doubleview Gold Corp. ("Doubleview", "Company") (TSXV:DBG)(OTC PINK:DBLVF)(FRANKFURT:1D4) is pleased to provide an update on exploration drilling at its 100% owned Hat gold rich copper porphyry property located in the Golden Triangle of northwestern British Columbia. Located west of the Lisle Zone, drill hole H-037 is directed to the apparent center of a strong chargeability anomaly identified by a deep penetrating 3D induced polarization geophysical survey. This is the initial exploration drilling in this target area that also exhibits intense silicification.

Hole H-037, with inclination -60° and planned length of 600 metres, is collared 1460 metres west of the apparent center of the Lisle Zone that has been the focus of all earlier work and will extend the exploration domain to approximately 2050 metres.

Mr. Farshad Shirvani, President and CEO, comments that "Copper commodity prices have risen impressively in recent weeks in response to global adjustment to Covid-19 issues and to the anticipated economical recovery that will occur as vaccines are deployed. The outlook for the copper mining industry is strong and the need for new production from countries such as Canada that have political stability and reasonable and reliable regulatory systems, mature financial resources and a cohort of skilled labour, is equally strong. Doubleview, with an adequate cash position and a highly prospective gold-copper deposit, is well positioned to benefit from that situation and continue its growth. We will have much analytical data to report as it becomes available in coming weeks and our outlook as we approach 2021 is buoyant".

Drawing 1 illustrates the location of Hole H-037 in relation to the chargeability anomaly; Drawing 2, its position relative to other Hat drill holes.

The Company is also pleased to report that it has closed the private placement for a total of $1,774,000.15, announced on October 22, 2020. The Company has raised a total of $4,510,079.25, including the previous private placement.

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.

View source version on accesswire.com:
https://www.accesswire.com/618932/Doubleview-Provides-Drilling-Update-at-its-Hat-Gold-Rich-Copper-Porphyry

FAQ

What is the latest drilling update from Doubleview Gold Corp (DBLVF)?

Doubleview Gold Corp has commenced drilling at Hole H-037, targeting a strong chargeability anomaly at its Hat property.

How much has Doubleview Gold Corp raised in its recent private placement?

Doubleview raised a total of $1,774,000.15 in its latest private placement, contributing to $4,510,079.25 raised in total.

What are the implications of rising copper prices for Doubleview Gold Corp (DBLVF)?

The rise in copper prices indicates a stronger market outlook, which may benefit Doubleview's growth and exploration efforts.

Where is Doubleview Gold Corp's Hat property located?

The Hat property is located in the Golden Triangle of northwestern British Columbia.

What is the significance of Hole H-037 for Doubleview Gold Corp (DBLVF)?

Hole H-037 is significant as it targets a chargeability anomaly, marking an important step in expanding exploration at the Hat property.