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CORRECTION FROM SOURCE: Doubleview Reports Maiden Mineral Resource Estimate

  • Written by Media Outreach
Resource estimate highlights:
  • Indicated resource estimate of 150 million tonnes (Mt) and inferred resource estimate of 477 Mt at 0.2% copper equivalent ("CuEq") cut-off grade; or
  • Indicated resource estimate of 1.353 billion pounds (Blb) of CuEq at 0.408% CuEq, which includes 733 Mlb of copper, 28 Mlb of cobalt, 929 thousand ounces of gold and 2 million ounces of silver.
  • Inferred resource estimate of 3.619 Blb of CuEq at 0.344% CuEq, which includes 1.945 Blb of copper, 91 Mlb of cobalt, 2.328 million ounces of gold and 7.575 million ounces of silver.
  • Scandium potential for the Hat Deposit is estimated to be 300 to 500 million tonnes at an average grade of 40 ppm (0.004%) Sc2O3.
Vancouver, British Columbia--(Newsfile Corp. - July 26, 2024) - Doubleview Gold Corp (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) ("Doubleview" or the "Company") is pleased to announce the maiden Mineral Resource Estimate ("MRE") of its 100% owned polymetallic Hat porphyry project ("Hat"), located in northwestern British Columbia. With major content of Copper, Gold, Cobalt as well as the potential of Scandium, Hat can become an important source of critical minerals. Farshad Shirvani, president & CEO of Doubleview Gold Corp commented, "Year by year, the size of the deposit was increased by very targeted drilling, bringing it to a footprint of about 1.5km x 1.38km. I appreciate my technical and management team in this endeavor. We've discovered numerous additional elements within the Hat deposit that will soon be unveiled, each further showcasing the deposit's uniqueness and enhancing the resource."Summary of MRE for Hat Deposit:Table 1: Hat Deposit MRE with a 0.2% CuEq cut-off (being the basecase scenario to be set forth in the Technical Report)
Average GradeMetal Content
Open Pit Model HatResource CategoryTonnageCuEqCuCoAuAgCuEqCuCoAuAg
Mt%%%g/tg/tmillion lbmillion lbmillion lbthousand ozthousand oz
In PitIndicated1500.4080.2210.0080.190.421,353733289292,045
Inferred4770.3440.1850.0090.150.493,6191,945912,3287,575
Parameters used to calculate cut-off grade:Au price US$/oz: 1,900; Ag price US$/oz: 24; Cu price US$/lb: 4; Co price US$/lb: 22; Au recovery: 89.0%; Ag recovery: 68.0%; Cu recovery: 84.0%; Co recovery: 78.0%; Mining cost US$/t (OP): 2.5; Processing Cost US$/t: 6; G&A Cost US$/t: 2Copper Equivalent CalculationCuEq in % = ([Ag grade_ppm] *24*0.68/31.1035 + [Au grade_ppm] *1900*.89/31.1035 + 0.0001* [Co grade_ppm] *22*0.78*22.0462 + 0.0001* [Cu grade_ppm] *4*0.84*22.0462)/(4*22.0462*0.84). Scandium is not part of the copper equivalent calculation.MRE Table Notes:
  1. The effective date of the (MRE) is 17 July 2024.
  2. The Mineral Resource Estimate has been stated using CuEq cut-off grade for comparison purposes with Doubleview's previous statements. The CuEq value is primarily driven by the prices of associated minerals. Micon International Limited's ("Micon") QPs recommend that future resource estimates are completed using a NSR calculation.
  3. Mr. William Lewis P.Geo., and Ms. Chitrali Sarkar M.Sc., P.Geo., of Micon are the QPs responsible for MRE as defined in Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and are responsible for the 2024 MRE.
  4. The mineral resources disclosed in this news release were estimated using the CIM standards for mineral resource and reserve definitions and the CIM best practices guidelines for resource estimation.
  5. The mineral resources reported are within the boundaries of a pitshell derived from the open pit optimizer, assuming surface mining methods with an overall slope angle of 45 degrees and the original block model was re-blocked to 20m x 20m x 20m. Mineralized blocks outside of the pitshell are not considered to be part of the MRE.
  6. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
  7. Geological modelling and the MRE have been completed using Leapfrog Geo and Edge software.
  8. An open pit cut-off grade of 0.14% CuEq was calculated for the MRE using a gold price of US$1,900/oz, a silver price of US$24/oz, a copper price of US$4/lb and a cobalt price of US$22/lb; mining cost US$2.5/t, processing cost US$6/t and G&A costs of US$2/t; gold recovery of 89%, silver recovery of 68%, copper recovery of 84% and cobalt recovery of 78%. However, to further fulfill the criteria for an MRE to meet the definition of potentially economic extraction, Doubleview has used an open pit cut-off grade of 0.20% CuEq to report the initial basecase mineral resources.
  9. EUR ING Andrew Carter B.Sc. CEng. MIMMM, MSAIMM SME of Coffey, Tetra Tech has reviewed the metallurgical test work and is the QP responsible for the metallurgical recoveries and processing costs.
  10. The MRE has been classified according to CIM definitions of Indicated and Inferred Resources. There are no Measured Resources, at this time. The Mineral Resource classification has been visually reviewed to eliminate any 'Spotted Dog' effect, commonly seen in computer-generated models.
  11. Ordinary Kriging...

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