Mineral Resource Firm Options BC Copper-Silver-Zinc Project5th February 2019
By The Gold Report
Source: Streetwise Reports 02/01/2019
Future exploration will build on geological and geochemical survey work already performed on the property. Technical analyst John Newell of Fieldhouse Capital charts the company.
Doubleview Capital Corp. (DBV:TSX.V; DBLVF:OTCBB; 1D4:FSE) announced in a news release it entered into an option agreement regarding its Red Spring project in British Columbia with a private company recently acquired by Mucho Cobre Resources Inc.
Per the agreement, Mucho Cobre has the right to earn up to a 60% interest in the Red Spring copper-silver-zinc project over a five-year period provided it makes three aggregate outlays on a set schedule. One is $4 million, to be spent on exploration. The second is $500,000, to be paid to Doubleview. The third is 2 million of its common shares, to be issued to Doubleview. Mucho Cobre and Doubleview will split any accumulated exploration tax credits.
Subsequently, at commercial production, should the project get to that stage, Doubleview will retain a 0.5% net smelter royalty, all of which Mucho Cobre could buy for $600,000.
“The Red Spring property is a strata-bound ‘redbed’-type copper deposit similar to those in several very large European and Asian copper mining districts,” said Doubleview President and CEO Farshad Shirvani. “Earliest property work in the 1970s included twelve short, widely-spaced drill holes, some of which intersected strong copper and silver values, including 136 feet (41.5 metres) with 0.54% copper and 0.61 oz/ton silver.”
“Doubleview’s geological and geochemical survey work since 2013 has confirmed the merits of the main Red Spring zone and identified new areas, that included values as high as 225 g/t silver, 3.89 % copper and 1.55 % zinc from the 2016 geochemical soil survey,” Shirvani added.
The company noted that it has received a provincial Mines Act Permit for work including drilling at Red Spring.
Technical analyst John Newell of Fieldhouse Capital charted Doubleview on the TSX Venture Exchange and noted that its shares has broken the “Point of Recognition.” He lists targets at 28 cents, 37 cents and 62 cents.
Chart courtesy of StockCharts.com.
John Newell is a portfolio manager at Fieldhouse Capital Management. He has 38 years of experience in the investment industry acting as an officer, director, portfolio manager and investment advisor with some of the largest investment firms in Canada including Scotia McLeod, CIBC Wood Gundy and Richardson Greenshields (RBC Capital Markets). Newell is a specialist in precious metal equities and related commodities, and follows a disciplined proprietary approach incorporating equity research, analytical frameworks and risk controls to evaluate and select long and short stocks primarily from the Canadian small and mid-cap coverage. Many large, midcap and junior precious metal companies use his technical charts. Newell is a registered portfolio manager in Canada (advising representative).
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Technical chart provided by John Newell.
( Companies Mentioned: DBV:TSX.V; DBLVF:OTCBB; 1D4:FSE,
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