Doubleview Reports New Discovery: Gold Rich Zone Within the South Lisle Zone – Drill Interval of 405m of 0.21 g/t Gold (0.84% CuEq) That Extends the Main Lisle Deposit by 240 Meters

Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: A1W038) (the “Company or “Doubleview”) is pleased to announce drilling has extended the Lisle deposit 240m south, resulting in the discovery of the Company’s highest gold grades to date at its polymetallic Hat porphyry project, located in the Golden Triangle of northwestern British Columbia, Canada.

Drill holes H060, H061, H062 and H063, as shown in Figures 1 and 2, expand the Lisle Deposit by additional 240m to the south, called the Gold Rich Zone. This zone will increase the volume of mineralization that will be included in the maiden resource estimate which is being prepared by an independent engineering group and is expected in Q1 of 2024.

The South Lisle zone now extends the Main Lisle zone for 360m, please refer to the Company’s news release dated October 24th 2023, and further more assays are pending for this Gold Rich Discovery zone.

Drill hole H063 marks the highlight of this group of drill holes with 0.21 g/t gold over 405m. The interval represents almost the entire drill hole. Remarkably, the Gold Rich Zone continues assaying similarly high values for scandium as in other parts of the deposit, in this case 25.5 g/t over 405m. With drill holes H061 to H063 the Company tested a lower zone of an IP anomaly. Notably, the assay results suggest a continuation of the deposit.

The following Table 1 shows numerous high-grade gold samples within the named drill holes, continuing to demonstrate the richness of this porphyry deposit. Remarkably, within H063 is the highest yet assayed gold drill sample of the project with 18.4g/t gold over 1m which is closely followed by a second 13.4 g/t gold sample over 1m. Cobalt strongly shows with 0.233% and 0.198% respectively, and copper assays values 1.87% and 1.95% to these samples.

DDHFrom
(m)
To
(m)
Interval
(m)
Ag (ppm)Au (ppm)Co (ppm)Cu (%)Sc (ppm)
H06074.7761.33.511.88201.00.5532.6
H060767711.391.821095.00.2016.7
H060818210.343.50220.00.0429.9
H06020420510.271.9392.90.1956.7
H06021721810.81.001365.00.8128.1
H06037037112.331.56409.02.2917.1
H06037137211.71.04620.01.7116.3
H06038238311.781.63295.02.4223.1
H06117017111.171.66620.00.4715.2
H061181.81831.20.282.61136.50.9918.7
H061380.2381.211.341.12165.51.0526
H0626364127.84.01284.04.4216.2
H062777812.121.02195.00.4542
H062397.95399.51.550.372.4457.10.0722.3
H06248949232.421.96288.00.5519.9
H063279280.81.80.451.0688.50.1221.3
H06330030220.091.35138.50.0325.7
H06330230311.3718.42330.01.874.8
H063304.1306.151.950.192.11260.00.1014.8
H063319.5320.513.4913.41975.01.955.1
H063320.5321.511.332.38161.50.6018.8
H06332733031.492.12108.50.6028

 

Table 1. Gold rich samples of drill holes H060 to H063

Mr. Shirvani, President & CEO of Doubleview, commented: “The Hat project continues to deliver high values of its principal metals, copper and gold, with strong support from critical metals cobalt and scandium. It is compelling to observe how the deposit evolves when new drill data gets analyzed and how the different zones that we are discovering, add to the evolution of the Hat polymetallic porphyry deposit. I am very much looking forward to receiving additional assay results currently undergoing analytical analysis, followed by the receipt of the resource estimate and to joining our team in planning the 2024 season that will include further investigation of the newly expanded Gold Rich Zone.”

DDHFrom (m)To (m)Length (m)Ag (g/t)Au
(g/t)
Co
(g/t)
Cu
(%)
Sc
(g/t)
CuEq (%) incl Sc2O3
H06024.0697.0673.00.200.097.50.0928.20.84
Incl.74.782.07.31.671.3642.50.2623.91.83
And199.0388.0189.00.250.129.20.1129.00.91
Incl.323.6388.064.50.420.1712.00.2430.51.09
And368.0436.868.80.380.1712.20.2329.01.05
Incl.369.0388.019.00.800.4422.90.6230.81.64
Incl.369.0376.07.01.320.7628.51.0827.22.16
H0619.0624.0615.00.110.055.20.0325.30.69
And29.6149.0119.40.230.107.10.0631.20.89
And380.2381.21.01.341.1216.61.0526.02.27
H0629.0495.0486.00.210.105.80.0528.10.81
Incl.56.4130.073.60.750.197.50.1539.01.21
Incl.56.4103.046.61.080.227.60.2139.91.31
Incl.56.464.07.65.320.9313.30.9332.72.23
Incl.63.064.01.027.804.0128.44.4216.26.85
And398.0402.04.10.311.266.00.0725.91.48
H0639.0414.0405.00.230.218.00.0725.50.84
Incl.68.6179.0110.40.450.1212.20.1129.60.93
And277.4336.058.600.281.0013.600.1419.50.80
Incl.297.0306.29.20.273.0040.20.2720.22.74
And302.0330.028.00.481.7822.30.2516.71.81
Incl.302.0303.01.01.3718.40233.01.874.814.07
Incl.319.5330.010.50.972.2526.60.4422.92.42
Incl.319.5320.51.03.4913.40197.51.955.110.92

 

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%

Table 2. shows assay intervals of drill holes H060 to H063

Figures 1 and 2 illustrate vertical projections of drill holes H060 to H063 of the Gold Rich Zone.

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Figure 1. Section along the drill holes

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Drill Hole IDUTM – EastUTM – NorthElevationMax-DepthAzimuthDipArea
H060347,8666,453,619938.8613.5350-70Lisle South
H061347,8666,453,619938.8642.090-65Lisle South
H062347,8666,453,619938.8495.0180-70Lisle South
H063347,8666,453,619938.8420.0180-55Lisle South

 

Table 3. Drill Hole Data

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Figure 2. Drill Plan

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Scandium:

Scandium is one of the rarest critical metals group deemed “critical metals” by the Canadian and American federal governments.

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) (FSE: 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/194369

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