Drill Hole Assays in the Newly Discovered Buck Zone Connects the West Lisle Zone to Main Lisle deposit

Rhea-AI Summary

Doubleview Gold Corp. announces assay results from Hat Project drill holes

Positive

• Drill hole H052 intersected more than 500 meters with strong Copper and Gold Mineralization
• An apparent increase in strength of all metals with increased depth
• Cobalt assay results for drill hole H053 are among the highest ever reported for the Lisle Zone
• Drill holes H052 and H053 provide a link from the west part of Lisle Zone to its southern extension
• Anticipated to add significantly to the size and value of the Hat deposit
• Results underline the project's outstanding importance to potentially be supportive for Canada's ambitious plan to tackle climate change and have an independent supply of critical metals

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - October 10, 2023) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (GER: A1W038) (the "Company or "Doubleview") is pleased to announce assay results from Hat Project drill holes H049, H052, and H053 (Drill holes H050 & H051 were previously reported 06/010/23). Of special significance is drill hole H052 that intersected more than 500 meters with strong Copper and Gold Mineralization within which a 211.2 meter interval included 0.35 g/t Gold, 0.37% Copper with a total 1.33% Copper Equivalent**. Also particularly notable is an apparent increase in strength of all metals with increased depth. Cobalt assay results for drill hole H053 are among the highest ever reported for the Lisle Zone. Drill holes H052 and H053 are in the Buck zone connecting the western Lisle zone with the strong mineralization of the southern Lisle zone.

The reported drill holes cover a 150m x 260m area if projected to surface. The drill hole locations were carefully selected to gradually increase the Lisle deposit volume for the upcoming resource estimation, anticipated to be released Q1 of 2024. Table 1 shows assay intervals in detail and Table 2 provides information concerning drill hole locations. Figures 1 and 2 illustrate the locations and distribution of mineralization. Drill holes H052 and H053 provide a link from the west part of Lisle Zone to its southern extension.

Farshad Shirvani, Doubleview's president and CEO, comments that "The 2023 drill campaign has exceeded all expectations. These first pair of drill holes connect the newly discovered Buck zone with the Lisle zone, which until now had previously been viewed as two separate areas. It's anticipated that this will add significantly to the size and value of the Hat deposit. Besides the consistently high values of scandium and the continuous numbers for copper, the results for cobalt in drill hole H049 are, as with the case in H053, some of the highest grading cobalt assays ever encountered at the Hat deposit. This underlines the project's outstanding importance to potentially be supportive for Canada's ambitious plan to tackle climate change and have an independent supply of critical metals."

Mr. Shirvani continued "While work is continuing to prepare the resource estimation data package, we are steadily advancing our drill hole coverage southward to the nearly unexplored Hoey zone, where earlier surface work including hand trenching, showed strong copper, cobalt and gold mineralization."

Currently the 2023 drilling campaign continues to advance the Hat project, and the total drilled length of this season exceeds 8,000 meters.

TABLE 1. Assay results

DDH	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Co (g/t)	Cu (%)	Sc (g/t)	CuEq (%)* incl Sc2O3
H049	42.8	376.7	333.9	0.12	0.03	71.0	0.05	32.4	0.87
inc.	42.8	50.0	7.2	1.04	0.02	774.0	0.16	16.2	0.91
inc.	161.5	188.6	27.1	0.32	0.04	83.3	0.06	31.3	0.86
inc.	230.6	256.0	25.4	0.31	0.10	100.2	0.18	25.0	0.86
and	373.8	379.3	5.5	0.25	0.22	120.8	0.21	26.0	0.99
H052	24.4	531.0	506.6	0.29	0.18	116.4	0.20	31.7	1.09
inc.	33.7	160.2	126.5	0.17	0.05	86.7	0.05	32.7	0.90
inc.	183.0	523.8	340.8	0.36	0.24	132.4	0.27	31.6	1.20
inc.	201.0	523.8	322.8	0.37	0.25	136.7	0.28	31.9	1.22
and	252.0	463.2	211.2	0.45	0.35	165.3	0.37	30.4	1.33
inc.	252.0	526.3	274.3	0.38	0.30	146.3	0.32	31.9	1.28
inc.	351.0	463.2	112.2	0.33	0.54	177.4	0.46	31.5	1.55
H053	33.0	408.0	375.0	0.16	0.09	94.5	0.08	32.4	0.94
inc.	33.0	204.6	171.6	0.25	0.06	154.9	0.11	31.1	0.95
inc.	33.0	150.0	117.0	0.09	0.03	59.8	0.04	32.2	0.85
inc.	156.0	204.6	48.6	0.68	0.15	399.4	0.29	28.7	1.21
inc.	188.0	204.6	16.6	1.18	0.25	743.5	0.54	28.3	1.64
and	160.0	363.0	203.0	0.21	0.12	130.5	0.11	32.5	1.01
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. **Copper Equivalent (CuEq%) is estimated using the following metal values and equations: - *CuEq(%) =(Ag(g/t) x Price_Ag x Rec_Ag/31.1035 + Au(g/t) x Price_Au x Rec_Au/31.1035 + Co(%) x Price_Co x Rec_Co x 22.0462 + Cu(%)x Price_Cu x Rec_Cu x 22.0462 + Sc(g/t) x Price_Sc x Rec_Sc x Sc_con) / (Price_Cu x 22.0462) - Price_Ag = $22.20/troy oz, Price_Au=$1,812.14/ troy oz, Price_Co = $23.30/lb, Price_Cu = $3.84/lb, Price_Sc = $1.5/g - Rec_Ag = 68% , Rec_Au = 89% , Rec_Co = 78%, Rec_Cu = 84% , Rec_Sc = 88%

 

Figure 1. Section along the drill holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8003/183475_706b640034aa281e_001full.jpg

TABLE 2. Drill Hole Data

Drill Hole ID	UTM - East	UTM - North	Elevation	Max-Depth	Azimuth	Dip	Area
H049	347,471	6,454,073	964	512	0	-87	Lisle West
H052	347,471	6,454,073	964	540	135	-60	Lisle West
H053	347,471	6,454,073	964	442.4	105	-70	Lisle West

 

 

Figure 2. Drill Plan

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https://images.newsfilecorp.com/files/8003/183475_706b640034aa281e_002full.jpg

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.

Cautionary Note: Although a mineral resource estimation is currently being prepared by an independent engineering firm, no mineral resources have been estimated at the Hat Property and there is no assurance that further work will result in the Lisle Zone, or other zones if present, being classified as mineral resources.

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 (TSXV: DBG) (OTCQB: DBLVF) (GER: A1W038) (FSE: 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/183475

FAQ

What are the assay results from the drill holes?

Drill hole H052 intersected more than 500 meters with strong Copper and Gold Mineralization. Cobalt assay results for drill hole H053 are among the highest ever reported for the Lisle Zone.

What is the significance of the reported drill holes?

Drill holes H052 and H053 provide a link from the west part of Lisle Zone to its southern extension, which is anticipated to add significantly to the size and value of the Hat deposit.

What do the results underline?

The results underline the project's outstanding importance to potentially be supportive for Canada's ambitious plan to tackle climate change and have an independent supply of critical metals.

When will the resource estimation be released?

The resource estimation is anticipated to be released in Q1 of 2024.

How long is the total drilled length of the 2023 drilling campaign?

The total drilled length of the 2023 drilling campaign exceeds 8,000 meters.