Drill Hole H035 Extends Lisle Deposit: Intersected 1.00 g/t Gold EQ (0.73% Copper EQ) over 97.9m

Rhea-AI Summary

Doubleview Gold Corp. reports promising assay results from drill hole H035 at the Lisle Deposit, Hat Project in British Columbia. The hole reached a depth of 495 meters, intersecting significant mineralization including 97.9 meters with 1.00 g/t Au Eq and a broader 222.2 meters averaging 0.57 g/t Au Eq. Noteworthy cobalt and palladium values were also detected, indicating their potential importance. H035 extends the deposit by approximately 125 meters eastward. CEO Farshad Shirvani expressed optimism regarding the results and future drilling to further assess the deposit's potential.

Positive

• H035 intersected 97.9 meters with 1.00 g/t Au Eq (0.73% Cu Eq), indicating strong mineralization.
• The deposit was extended by approximately 125 meters eastward, supporting growth potential.
• Elevated cobalt and palladium values found may enhance the value of the deposit.
• Plans for further drilling in 2021 could lead to significant expansion of the deposit.

Negative

• Hole H035 was abandoned at 495 meters, falling short of its target depth of 1000 meters.

VANCOUVER, BC / ACCESSWIRE / February 16, 2021 / Doubleview Gold Corp. ("Doubleview"), ("Company") (TSXV:DBG)(OTC PINK:DBLVF)(FRANKFURT:1D4) is pleased to announce assay results from the Lisle Deposit at the Hat Project located in the Golden Triangle , northwestern British Columbia. Diamond drill hole H035 is one of three deep holes drilled late in the 2020 field season. As detailed in the table below, H035 intersected mineralization from near surface to final depth of 495 metres, including 97.9m with 1.00 g/t Au Eq (0.73% Cu Eq), within a longer 222.2m intersection with 0.57 g/t Au Eq (0.41% Cu Eq). Cobalt, Palladium and Silver are present in small but possibly important amounts. H035 was stopped at 495 m in a zone of weakness that caused the hole to be abandoned. As illustrated in the accompanying drawing, the Lisle zone was extended approximately 125m eastward.

Summary

• H035 intersected 97.9 metres ("m") of 1.00 g/t Au Eq (0.73% Cu Eq) in a broader, 222.2 m, zone of porphyry-style mineralization that averaged 0.57 g/t Au Eq (0.41% Cu Eq).
• H035 intersected several sections with elevated Cobalt and Palladium values. Highest Cobalt values are 437 ppm over 1.00m; highest Palladium, 0.53 g/t over 3.0 m. Cobalt and Palladium are not included in Au Eq and Cu Eq calculations.
• Cobalt is present in all Lisle Zone drill holes in small but possibly important amounts. The Company has engaged a consulting metallurgist to advise of the significance of Cobalt and will now evaluate Palladium and Silver. Several sections with elevated Palladium values were found in H035, especially below 363 m depth.
• H035 is mineralized from near surface to final depth of 495 m and extends the Lisle deposit approximately 125m easterly but does not limit any dimension of the Lisle deposit. Hole H035 was abandoned at 495 m, depth, short of its intended depth of 1000m.

Doubleview President and CEO Farshad Shirvani commented, "Drill hole H035 extends the Lisle Zone a further 125 metres easterly and is very important to the company as it supports the size and grade of our conceptual Deposit Model outlined by the 3D IP Chargeability Model. That model is in part based on geophysical survey data that can only be confirmed by drilling. In addition, H035 assay data show the presence of Cobalt and Palladium values that if confirmed by further drilling may add significantly to the Hat Copper-Gold evaluation. We are currently receiving assay data from the remainder of the 2020 drill program and I am very excited to see results as we anticipate a possible significant expansion of the size and grade proof of this important porphyry-type deposit in British Columbia's prolific Golden Triangle district. We will resume drilling when the 2021 field season begins."

Detailed Analytical Data:

The following table tabulates selected assay results of the drill hole H035.

DDH	From (m)	To (m)	Length (m)	Au (g/t)	Cu (%)	CuEq (%)	AuEq (g/t)		Ag (g/t)***	Co (g/t)***	Pd (g/t)***
H035	9	495	486.0	0.12	0.16	0.24	0.33		0.4	5.86	0.029
H035	97.3	490.2	392.9	0.14	0.18	0.29	0.40		0.41	6.14	0.033
H035	99.3	102.0	2.7	1.08	0.35	1.13	1.55		2.43	23.25	0.011
H035	101.1	377.0	275.9	0.18	0.22	0.35	0.48		0.50	7.12	0.021
H035	101.1	390.0	288.9	0.17	0.22	0.35	0.47		0.49	6.96	0.022
H035	164.8	387.0	222.2	0.19	0.27	0.41	0.57		0.57	6.86	0.024
H035	164.8	495.0	330.2	0.15	0.21	0.32	0.44		0.44	5.81	0.038
H035	234.2	495.0	260.8	0.13	0.25	0.35	0.48		0.51	5.88	0.044
H035	260.0	377.0	117.0	0.22	0.45	0.61	0.84		0.83	8.21	0.033
H035	292.1	322.0	29.9	0.24	0.44	0.62	0.85		0.88	9.02	0.015
H035	292.1	390.0	97.9	0.26	0.54	0.73	1.00		0.96	8.14	0.040
H035	322.0	354.0	32.0	0.36	0.80	1.06	1.46		1.26	9.58	0.027

* No metallurgical recovery tests have been conducted: Gold (AuEq} and Copper (CuEq) are reported at 100% recovery and were directly calculated from the copper and gold assays.

** AuEq and CuEq are calculated on the basis of long-term metal prices: Au US$1300/oz, Cu US$2.60/lb

CuEq (%) = ([(%Cu) x (22.0462) x ($2.6) + (g/t/Au) x (1/31.1035) x ($1300)]) ÷ ((22.0462) x ($2.60))).

AuEq (g/t) = ([(%Cu) x (22.0462) x ($2.6) + (g/t/Au) x (1/31.1035) x ($1300)])/($1300 x1/31.1035)

*** Calculation of AuEq and CuEq does not include Cobalt and Palladium.

Quality Assurance and Quality Control

Core samples were prepared at the Vancouver facility of Bureau Veritas Mineral using their PUL85, FA350, MA200, and LF200 packages. Each core sample is dried, then crushed to 70% passing a 2mm screen. All material is processed in an automatic Boyd Crusher or Riffle splitter to yield a 500g 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 30g fire-assay fusion/ICP-ES finish, using FA350 package. A separate 0.25g pulp split is analyzed by Four Acid digestion/ICP-MS finish, reporting 45 elements. Over limit Cu is analyzed by Four Acid digestion/ICPES finish using ICP-240/ICF-6xx assay package. All Doubleview core samples are analyzed or assayed at independent ISO 17025 and ISO 9001- certified laboratories.

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 of the company.

Cautionary Note: 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 [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 are the assay results from drill hole H035 for DBLVF?

Drill hole H035 reported 97.9 meters with 1.00 g/t Au Eq and a broader intersection of 222.2 meters averaging 0.57 g/t Au Eq.

How far did drill hole H035 extend the Lisle Deposit for DBLVF?

H035 extended the Lisle Deposit approximately 125 meters to the east.

What additional minerals were found in H035 for DBLVF?

The drill hole revealed elevated levels of cobalt and palladium, which may be significant for the deposit's value.

When will further drilling for DBLVF resume?

Further drilling is anticipated to resume when the 2021 field season begins.

What was the final depth of drill hole H035 for DBLVF?

Drill hole H035 reached a final depth of 495 meters before being abandoned.