Another dramatic turn in the Sheslay district.
Just weeks after a Tahltan uprising following the best-ever drill results from Doubleview Capital’s (DBV, TSX-V) Hat Project (perception of value in the ground always creates dynamics involving money, politics and power), the Tahltan are at work drilling what is certainly one of the most important holes in B.C. exploration in recent years. In fact, an independent geologist with no connections to the Sheslay district told us this afternoon, “If this (hole) hits, all of B.C. will hear a booming thunder.”
A 1,000-m step-out from the Lisle Discovery Zone and H-23 is a very bold move on the part of Doubleview. It’s a decision that reflects a high level of confidence in a deposit model that has impressively come together in recent months under the leadership of Dr. Abdul Razique, wisely recruited by President and CEO Farshad Shirvani early this year. Dr. Razique is a porphyry specialist who honed his skills with Copper giant Antofagasta, which is also known to be looking closely at potential projects in British Columbia.
Dr. Razique’s excitement over the Hat stems from his belief that this project – at the grassroots stage only two years ago – is a major new Canadian discovery in the making, and he’s determined to prove that with the next few holes.
All the clues are there. The similar alteration footprint throughout the entire Hat Complex. The systematic pattern of NW/SE structures and shear zones. The same host rock at all target areas. The “ocean of hydrothermal magnetite”. The strong correlation of geochem anomalies as well as NW-SE oriented dykes with the linear magnetic anomalies. The list goes on.
Make sure you’re a subscriber to our BMR eAlert system (free sign-up, check the top right corner of our homepage) because in a few days, eAlert subscribers will receive an important excerpt (raw footage) from our recent video interview with Dr. Razique. This will be very educational in terms of understanding the Hat system and how a world class Gold-Copper porphyry deposit comes together.
BMR eAlert subscribers will receive an unedited segment of our recent interview with Dr. Abdul Razique.
The Scale Of The Hat
One of the final paragraphs of today’s news release from Doubleview underscores the scale of what’s unfolding here.
“After reinterpreting geological, geochemical, geophysical and analytical data from an updated database that incorporates all historical data from the 1960′s up to the recent property information, the Doubleview technical team, led by chief geoscientist Dr. Abdul Razique, believes that anomalies A, B (Lisle Zone) and E collectively comprise a single alkalic Gold-rich Copper porphyry system within a much larger Hat Complex that also includes anomalies C, D, and the Hoey and Gossan Creek prospects southeast of the Lisle zone. The studies have also identified two new exploration targets, F and G. Target A2 is the focus of this initial 2015 drilling campaign.”
Wow. If areas “A”, “B” and “E” comprise a single alkalic Gold-rich Copper-porphyry system, the volume of such a deposit would be huge – at least 2 billion tonnes? That’s just an unofficial back-of-the-envelope calculation (needed to be proven up, obviously) and of course what’s also critical is grade. Each round of drilling, however, has delivered better grades at the Hat as the understanding of this system (the geometry of it, the controls on mineralization) grows.
Then there’s also areas “C”, “D”, “F”, “G”, and the Hoey and Gossan Creek prospects.
Potentially MASSIVE is no understatement.
Add to that the scale of the Grizzly as Garibaldi Resources (GGI, TSX-V) prepares for first-ever drilling and another potential major discovery along the Sheslay district’s 30-km long NW-SE mineralized corridor.
No wonder the Tahltan are paying much closer attention.
Note: John and Jon both hold share positions in DBV and GGI.
“…the volume of such a deposit would be huge – at least 2 billion tonnes?”
This is why Dr Razique was attracted to DBV…..the patience will soon pay off.
Remember my posts from a while ago? Stay tuned….
Comment by D4 — July 2, 2015 @ 6:00 pm
2 billion tonnes, that should get some attention and that’s just for starters. A new mining district in the world. Go DBV.
Comment by Les — July 2, 2015 @ 6:33 pm
Jon
Do you still hold GGI
You didn’t state that at the end of the a above article and you did mention GGI
In the article
Just curious if you sold GGI and went all in on DBV?
Comment by Greg — July 2, 2015 @ 7:20 pm
Looks promising…. see what happen next!
Comment by Theodore — July 2, 2015 @ 7:33 pm
Heavens no, Greg, sorry to scare you…that was a simple typo/omission. Fixed. Mind was on DBV with the story, noticed the error quickly but couldn’t fix right away as I left for a meeting immediately after posting. Checking for other typos!
Comment by Jon - BMR — July 2, 2015 @ 7:39 pm
Will the 1KM stepout make it a ‘complete’ discovery??
Comment by STEVEN1 — July 2, 2015 @ 7:46 pm
A hit on this 1-km step-out will undeniably take this to a whole new level, Steven, and will essentially prove the model – turning this into a discovery of such merit that it will be “legitimized” among a broad new sector of the market, including majors like Teck and Antofagasta. It will unequivocally demonstrate that the Sheslay district is indeed “pregnant” and that means investors can almost be certain that GGI is sitting on a major deposit as well.
Comment by Jon - BMR — July 2, 2015 @ 8:03 pm
Jon if you know that GGI drill this summer because you have a Tahltan-linked source, you probably know when DBV resume drilling !
Comment by Guy Delisle — July 2, 2015 @ 8:41 pm
Farshad has the biggest balls in the North American mining industry
Put Simply , if this hits like they obviously think it will, these guys will be rock stars at next years PDAC and I mean rock stars…lol, mind the pun.
Comment by Don — July 3, 2015 @ 3:03 am
I hope we will have pictures of the hole 24 on the website !
Comment by Guy Delisle — July 3, 2015 @ 4:25 am
Dr Razique has spent many many months studying all available data and look at his acomplishments/discoveries…….I highly doubt that he is wrong. Don’t bet against the Dr! After thoroughly evaluating almost 30 projects he chose to work with DBV for a reason! Interesting times ahead…..
Comment by d4 — July 3, 2015 @ 4:41 am
“Assay results from the current round of drilling, along with results from the remaining 250 metres of H-23 which are pending, will be released as soon as they are received, reviewed and interpreted”….does anyone have any thoughts on how long assays will take to get back in order to release the results? When Farshad mentions the “current round of driling”, does that mean the 1000m step out (H24)? Good luck to all!
Comment by Steve A. — July 3, 2015 @ 5:02 am
I think with yesterday’s news out of the way we will finalky have h23 results next week!
Comment by d4 — July 3, 2015 @ 5:53 am
Firstly Farshad has not mentioned since when drilling is started and how long he thinks drilled a hole of 1000 meters vertical takes 15 to 17 days.Possibly the results at the end of July.
Comment by guy delisle — July 3, 2015 @ 6:10 am
Guy, I think it’s safe to say, based on the reports of mobilization last week, that hole 24 will reach 400 m or greater by this weekend…just a guess on my part…would they go to a depth of 1,000 m on 1 hole at this stage? I don’t believe so, I think the better strategy would be to pop 3-4 holes in strategic areas to depths of 400 to 600 m to test the model…there’s no question Dr. Razique believes this system goes to a vertical depth of at least 1 km, and he will drill to that depth at the right time…there is nothing more exciting than a situation like this with history being written…this could bring life back to the junior resource market as the summer progresses…when you understand the geometry and the controls on mineralization, and where the high-grade zones likely are, and how to angle the holes, that’s a huge advantage…that’s why I believe DBV will hit here…
Comment by Jon - BMR — July 3, 2015 @ 6:18 am
D4 he mentionned on the news results hole 23 with hole 24 !
Comment by guy delisle — July 3, 2015 @ 6:21 am
Jon with an hole of 800 to 1000 meters and a good grade the drilling continous for all the year and it will be easy for Farshad to made a PP at a very good price and with 4 rigs ! I don’t think hole 24 stop at 600 meters if we are in strong mineralization. Market don’t want an hole of 400 to 600 meters. My opinion only !
Comment by guy delisle — July 3, 2015 @ 6:54 am
I had hoped for stronger volume on this news release to take the share price up over .20 but we’re not getting it this morning . If people are waiting for results from hole 24 they may never ever buy it below .20. IMHO
Comment by Les — July 3, 2015 @ 7:09 am
Don’t forget, Les, it’s a U.S. holiday, and a lot of Canadian traders/investors are away as well, which explains the lighter than usual Venture and TSX volume…I suspect we’ll see a volume surge in DBV next week as news circulates over the weekend and investors return to action Monday…
Comment by Jon - BMR — July 3, 2015 @ 7:22 am
I have to agree Jon and there are not many shares on the ask side into the low .20s . Looking forward to seeing that next video with Dr. Razique soon.
Comment by Les — July 3, 2015 @ 7:51 am
Yea maybe should have waited until Monday for the news release
Comment by Sam — July 3, 2015 @ 8:02 am
And soon the speculation began !
Comment by guy delisle — July 3, 2015 @ 8:11 am
I somewhat agree Sam…I’m no PR expert, but it seems like they would have been better served waiting until the beginning of next week instead of releasing right before the weekend (and on a US holiday to boot). Either way, I can’t be happier with the news. I’m going to grab a bucket of popcorn, sit back and watch the big show at the Hat this summer!
Comment by Steve A. — July 3, 2015 @ 8:36 am
Sam –There was lots of uncertainty with all the things talking place at DBV for too long a period , the sooner the news was available to clarify matters the better . With the news update and the coming video people will have time to digest all the info before trading resumes Monday.
I don’t believe shareholders of GGI are as happy not knowing what is going on and would be tickled pink with a news update.
In order to bring attention to the Sheslay area and attract new investors the news story must have a continued flow of information ,uncertainty causes doubt . IMHO
Comment by Les — July 3, 2015 @ 9:55 am
i talked to farshad before he left and he told me if they hit the body they would not stop until out of drill rods…
Comment by tony roma — July 4, 2015 @ 9:00 am
I’m sure he has plenty of drill rods on site.
Comment by Jon - BMR — July 4, 2015 @ 9:41 am
I think a very good idea would be to re-release the news this morning
I’ve see this done by other companies and I think it serves a useful purpose
Usually the title of the release is REMINDER:
Jmho
Comment by Don — July 6, 2015 @ 2:40 am