Vancouver, British Columbia--(Newsfile Corp. - July 6, 2016) - Vancouver based mineral resource exploration and development company Doubleview Capital (TSXV: DBV) (OTCBB: DBLVF) (FSE: A1W038) has resumed exploration at its Red Spring property in British Columbia. Red Spring, a copper-silver-gold property located 160 kilometres north of Smithers, is one of the company's four projects in British Columbia.
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The Ministry of Energy and Mines waived the need for a permit to drill a small number of shallow holes on the Red Spring property. The innovative shallow-hole drilling, which uses a very light weight easily portable unit, has a negligible footprint, will target newly identified areas of exploration potential as well as test and confirm historical work.
Following receipt of soil analyses from a recently completed, detailed soil geochemical sampling program, which covered approximately 1 square kilometre, together with newly-acquired and historic data, the company plans to continue exploration on the property.
The 216 hectare Red Spring property includes the historic Red Spring high grade copper-silver occurrences, which have benefited from extensive previous work, including at least 1,200 metres of diamond drilling. Previous operators estimated a preliminary near-surface, non-NI 43-101 compliant resource of 4.5 million tonnes with 0.5% copper and 11.9 grams per tonne silver.
The company recently announced that it has resolved an issue with a local First Nation community at its Hat gold-copper property and will resume work following the completion of financing. Following more than 8,300 metres of diamond drilling over 25 holes, which identified an important gold-copper alkali porphyry-type resource, work was halted in July 2015. Initial efforts will be directed to extending the Lisle Zone — Zone A, both laterally and at depth. Of particular interest will be the validation of the apparent trend to depth of increasingly strong gold-copper mineralization in the Lisle Zone that has not been delimited in any direction.
Doubleview is continuing to search for opportunities to add to its portfolio and has identified and is negotiating acquisition of two significant properties.
The shares are currently trading at $0.085, and with 67.5 million shares outstanding, the company is capitalized at $5.7 million.
For more information, please visit the company's website, www.doubleview.ca, contact Farshad Shirvani, President & CEO, at 604-678-9587 or email corporate@doubleview.ca.
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