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September 19, 2023
January 4, 2024

Last Updated – September 20, 2023 (only updated the tonnage example)

Doubleview Gold

Opinion on 18 Sept 2023 News

Best Grades are Coming but the Market Continues to Ignore the Pieces if the Puzzle

Extension of Lisle Zone

On 18 Sept 2023, Doubleview Gold’s new release said it had expanded the dimensions of the Lisle Zone to about 1,450 metres (north-south) X 1,400 metres (east-west)!

As the company expands the deposit’s dimensions, it unlocks more of the potential value of the enormous 3.2 km x 3.7 km 3D-IP footprint and it increases the potential tonnage of the Maiden Resource Estimate which is expected to be released late this year.

Source: 3D-IP from Doubleview Gold’s website

A back of the napkin estimate using the current drilled dimensions of 1450m x 1400m gives the following (assumes the dimensions are a perfect square when it isn’t, assumes average depth of 400m, assumes SG is 2.5 and it doesn’t account for cut-off grades): 1400 x 1450 x 400 x 2.5 = ~2.03 Billion tonnes!

This is only an example to show how much tonnage is contained with the above parameters. With only a small portion of the 3D-IP’s chargeability body drilled, the back of the napkin estimate shows Doubleview Gold has the potential to become a future world class deposit. As a reminder, the 3D-IP only covers ~25% of the total project. Since the remaining 75% has never been explored, there’s also a potential for new discoveries/systems. Once the 3D-IP is completely drilled (so far, it is said that every hole drilled into it has been mineralized), it has the potential to become one of the largest porphyry deposits of the world according to the graph below by the United States Geological Survey which plotted all of the porphyry deposits of the world in 2008!

Source: USGS – Porphyry Copper Deposits of the World: Database and Grade and Tonnage Models, 2008

Newly Discovered Feeder Zone is the Lisle Zone’s Heat Engine / Feeder System?

Another important piece of the puzzle the market ignored yesterday was the new discovery called the “Feeder Zone.”

In 2020, I mentioned in one of my reports that although Doubleview Gold had grades similar to other BC porphyry deposits that were in production, it still hadn’t found the deposit’s heat engine/feeder system. This means once the heat engine/feeder system is found its average grades will increase.

A porphyry deposit’s heat engine/feeder system is where the longest intercepts and the highest grades are typically found due to how porphyry systems are formed.

Since the company has thoroughly analyzed the core of many holes over the last ~11 years, the CEO/President (also a geologist) knows pretty well what to look for in newly drilled core. By correlating what is seen in the newly drilled core with previously lab analyzed core, it provides a general idea of the potential grades before analysis.

This new area was named the “Feeder Zone” because the company believes it might be the Lisle Zone’s higher grade heat engine/feeder system. The assays will soon confirm if the visuals are correct.

Further analysis indicates drill hole H034 might hold some clues about this new Feeder Zone.

Source: Doubleview Gold’s news release on 08 May, 2023 (red arrow & box were added for illustration purposes)

Notice the location of drill hole H034 in the diagram above and how it extends towards the newly discovered Feeder Zone in the diagram below.

Source: Doubleview Gold’s news release on 18 Sept, 2023

Drill hole H034 returned some outstanding grades between 452m to 540m especially between 534.5m to 538.2m. As a reminder, drill hole H034 was drilled at an angle towards the newly discovered Feeder Zone.

This helps show the potential of the system to host very high grades and most importantly, it might provide a general idea of the kinds of grades that might be found in the deposit’s heat engine/feeder system.

Source: Doubleview Gold’s news release on 12 May, 2020

Although the Feeder Zone was named based on visual inspection of the core and the assays will confirm if this new zone lives up to it’s name, I believe the assays will very likely be some of the company’s best copper and gold grades drilled so far.

A Porphyry System with High-Grade Potential

Although Doubleview Gold has consistently drilled long intercepts of what seems to be “economic grades” simply based on what BC porphyry grades are being mined, it has also found many very high-grade intervals without having found the deposit’s heat engine/feeder system.

The following examples show the system’s potential for very high grades:

H009 – 9.1m of 17.25 g/t silver, 3.93 g/t gold, 478.2 g/t cobalt & 1.87% copper

H050 – 3.0m of 45.9 g/t silver, 1.31 g/t gold, 1715 g/t cobalt & 5.87% copper

Highest silver grade = 3.0m of 45.9 g/t (a long time ago)

Highest gold grade = 9.1m of 3.93 g/t (2023)

Highest cobalt grade = 3.0m of 2240 g/t (2023)

Highest copper grade = 3.6m of 6.61% (2020)

Since Doubleview Gold hasn’t found the deposit’s heat engine/feeder system, the best grades (long higher grade intervals) haven’t been found yet.

Other Recent Pieces of the Puzzle

From the 12 June, 2023 news release about pending drill holes H052 and H053 (currently at the lab)- “Both drill holes intersected sulphide mineralization, including sections of very strong chalcopyrite and very strong pyrite mineralization that has historically been associated with
significant gold content.”

Although I’m not a geologist, I’m pretty confident that I recognize some massive chalcopyrite and magnetite in the core pics of the 18 Sept, 2023 news release.

If it is chalcopyrite and magnetite it’s a great sign because these have consistently resulted in mineralization based on previously analyzed core from the Lisle Zone.

I also believe there is breccia in the some core pics.

Notice the word “mega-breccia” in the post below by Doubleview Gold’s mine supervisor. Although he’s not a geologist, he has has been at the project supervising the camp since drilling started.

Source: Mike Rowsome LinkedIn (Corporate Development/Doubleview Gold Mine Supervisor)

Listen to the video below which only lasts 1 minute (starts & stops at a pre-determined place) to know more about breccias and the important role of them in copper deposits.

“The greater or more extent of brecciation you have, the greater the energy and often times…..the greater the energy input into a mineral system, the greater extent of mineralization. A great example of that is Rio Blanco-Los Bronces district in central Chile, it’s the world greatest accumulation of copper on the planet…….half of the contained copper in that district is hosted in breccias.” – David Kelly (CEO of Chakana Copper)

Since the video is from the CEO of Chakana Copper, I’m not a shareholder of Chakana Copper and I’m not familiar with it.

Crux Investor’s YouTube channel

“Exploring the Role of Breccias in Copper” – 16 Aug, 2023

Conclusion

The company’s news release on 18 Sept, 2023 provided some great clues on what most likely lies ahead. Although the market yawned at this news on the day it was released, I believe it’s still blind on what’s unfolding even if the company has been providing great forward looking statements and great hints of what to likely expect.

The older, more prudent and sophisticated Rick Rule recently said there wasn’t enough news to value the proposition on Doubleview Gold. I believe the pending catalysts will provide the missing pieces that Rick Rules requires to properly complete his due diligence on it.

If the company delivers as anticipated, I believe Rick Rule and or other industry names will be looking very closely at Doubleview Gold and some will likely become shareholders.

Although I continue to say the market is blind on (or simply ignoring) what’s unfolding, I believe it will get a rude awakening if things materialize like the company has been spoon feeding it.

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