The Conversation (0)
Doubleview Gold Corp. (TSXV: DBG,OTC:DBLVF) (OTCQB: DBLVF) (FSE: A1W038) (FSE: 1D4) ("Doubleview" or the "Company") is pleased to provide a summary of the cobalt component of its Hat Polymetallic Deposit in northwestern British Columbia, in advance of the upcoming updated Mineral Resource Estimate ("MRE") and Preliminary Economic Assessment ("PEA"). Based on the Company's review of publicly available information, the Hat Deposit may contain one of the largest undeveloped cobalt inventories associated with a Canadian mineral deposit.
The Hat Deposit Maiden Mineral Resource Estimate, released July 25, 2024, outlined a large alkalic porphyry type copper-gold-cobalt-scandium resource, within which cobalt occurs as a by-product metal uniformly associated with copper and pyrite mineralization. The cobalt component of the resource is summarized as follows:
Indicated: 150 million tonnes containing 28 million pounds (approximately 12,700 tonnes) of cobalt at 0.008% Co
Inferred: 477 million tonnes containing 91 million pounds (approximately 41,300 tonnes) of cobalt at 0.009% Co
The Hat Deposit contains one of the more significant undeveloped cobalt-containing mineral resources in Canada. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Cobalt is consistently distributed throughout the alkalic porphyry system alongside copper, gold, silver, and scandium. Metallurgical testwork to date indicates that cobalt is efficiently liberated into a clean pyrite concentrate suitable for conventional downstream processing. Additional metallurgical work is ongoing.
Farshad Shirvani, President & CEO, commented: "Copper, gold, and scandium remain the primary value drivers at the Hat Deposit, but the cobalt content represents a meaningful additional component of the project's critical-minerals profile. As demand for secure and responsibly sourced battery metals continues to rise, the Hat Deposit's location in a Tier-1 jurisdiction and its unusually large cobalt endowment strengthen the project's long-term relevance. As we complete the updated MRE and advance our PEA, cobalt will be one of several important contributors evaluated in the broader economic framework."
Why Cobalt from Hat Matters
Cobalt is designated a critical mineral by Canada, the United States, the European Union, Australia, Japan, and the United Kingdom. It is essential for:
High-performance lithium-ion batteries
Superalloys used in aerospace and defense
Clean-energy technologies including wind, fuel cells, and emerging grid-storage systems
More than 70% of refined cobalt is processed in China, and most mine supply originates from the Democratic Republic of Congo. Western governments and industry groups are seeking secure, ethical, and transparent supply chains. Canada currently produces only minor by-product cobalt amounts. The Hat Deposit has the scale, continuity, and jurisdictional advantages to potentially contribute to future domestic supply should the project advance through the necessary evaluation and development stages.
Qualified Person
Erik Ostensoe, P.Geo., a consulting geologist and Doubleview's Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure in this news release. Mr. Ostensoe is not independent of Doubleview as he is a shareholder of the Company.
About the Hat Polymetallic Deposit
The Hat Deposit is located in northwestern British Columbia and is a large alkalic-porphyry system hosting significant copper, gold, cobalt, and scandium mineralization. The project has been advanced through multiple exploration campaigns, geophysical surveys, metallurgical test programs, and drill programs targeting expanded resource potential. An updated MRE and PEA are underway and expected before the end of 2025.
| Open Pit Model Hat | Resource Category | Tonnage | Average Grade | Metal Content | ||||||||
| CuEq | Cu | Co | Au | Ag | CuEq | Cu | Co | Au | Ag | |||
| Mt | % | % | % | g/t | g/t | million lb | million lb | million lb | thousand oz | thousand oz | ||
| In Pit | Indicated | 150 | 0.408 | 0.221 | 0.008 | 0.19 | 0.42 | 1,353 | 733 | 28 | 929 | 2,045 |
| Inferred | 477 | 0.344 | 0.185 | 0.009 | 0.15 | 0.49 | 3,619 | 1,945 | 91 | 2,328 | 7,575 | |
Scandium Exploration Target
The Hat Deposit also hosts a previously disclosed exploration target of 300-500 million tonnes averaging approximately 40 ppm (0.004%) Sc₂O₃.
"The scandium resource potential is based on the drill holes on the property drilled for (July 25, 2024) maiden resource estimate for other metal content than scandium. The potential quantity and grade are conceptual in nature, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource."
A NI 43-101 Technical Report supporting the 2024 MRE is filed on SEDAR+.
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
Forward-Looking Statements
This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements relate to expectations, beliefs, projections, and future events and are based on current assumptions as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: anticipated timing of the updated Mineral Resource Estimate and Preliminary Economic Assessment; interpretations of the cobalt component of the Hat Deposit; metallurgical results; the potential for future production; and the potential significance of cobalt, scandium, and other metals to the project's economic considerations.
Forward-looking statements are subject to various risks and uncertainties that may cause actual results to differ materially, including: exploration and development risks; changes in commodity prices; environmental, permitting, and regulatory risks; risks inherent to metallurgical testwork; uncertainties in geological interpretations; and other risks described under the Company's filings on SEDAR+. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company undertakes no obligation to update forward-looking statements.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276613
