Driven Capital reports on first-phase drilling at White River
08/16/2012 09:41 AM ET
VANCOUVER, Aug. 16, 2012, 2012 (Canada NewsWire via COMTEX News Network) -- TSX Venture Exchange: DVV
Frankfurt Stock Exchange: DV1
Driven Capital Corp. (TSXV: DVV) (FSE: DV1) ("Driven" or the "Company") has completed first-phase drilling at its 60% optioned White River
gold-copper-silver property ("White River") in the Yukon Territory,
Canada.
White River covers a large area of hydrothermal alteration and
mineralization, showing characteristics of both intrusion related gold
and bonanza grade, structurally hosted gold-copper-silver mineralizing
systems. Property optionor Tarsis Resources Ltd. ("Tarsis") identified
five zones of gold-copper-silver mineralization at surface in the
Western Target Area of the 7,002-hectare claim block. That area's HG
and Cool Zones are the focus of Driven's 2012 diamond-drilling
campaign.
HG Zone
The HG Zone is the site of the first discovery of high-grade
gold-copper-silver mineralization on the property by Tarsis. It is
defined by a series of recessive east and northwest trending lineaments
within an extensive gold/arsenic/copper-in-soil geochemical anomaly
approximately 3 square kilometres in area. The width of the recessive
lineaments varies from 10 to 30 metres.
Prospecting by Tarsis in 2010 within the higher elevation portions of
the HG Zone documented numerous locally derived mineralized talus
specimens returning from below detection to 39.8 g/t gold, below
detection to 521 g/t silver and 4 ppm to 1.3% copper.
Highlights from Tarsis' 2011 hand trenching program included a channel
sample returning 82.2 g/t gold across 1.0 m from TR-HG11-02 within the
HG Zone. A grab and an auger sample from the core portion of the
exposure returned 214g/t and 129g/t gold, respectively.
Four diamond drill holes, WRDH-01 through WRDH-04, were drilled by
Driven from two drill pads on either side of the HG Zone lineament at
-45 degree angles, fanned at roughly 40°, to depths ranging from 126 to
210 m. The holes tested a relatively small, 130 m long portion of the
main east trending lineament in the area where it is best exposed near
the ridge top.
All drill holes encountered multiple, well-developed shear zones from 1
m to 40 m in drill thickness and mineralized by combinations of
quartz-feldspar veining, pyrite-arsenopyrite-chalcopyrite veining and
breccia, carbonate ± sulphide veining and breccia, limonitic fracture
networks and gossans, present in complex, multiple cross cutting
relationship. These shear zones are believed to be steeply dipping
with an en-echelon geometry showing good continuity along strike from
hole to hole. Vein density increases dramatically where these high
angle shear zones intersect brittle cherty metasediments, providing
potentially large volume host units at low angle geometries.
About half of the shear zone intercepted by drilling can be correlated
with trench exposures and surface lineaments, while the other half are
blind discoveries with no surface geologic or geochemical indications.
The presence of these blind zones is very encouraging and suggests that
the degree of structural preparation and hydrothermal fluid flow is
greater than initially thought.
Poor core recovery to total loss of core, in intervals from 1.0 to 3.0 m
in drill thickness, was encountered within one or more shear zones in
each drill hole due to the high degree of fracturing, strong surface
oxidation/weathering and presence of clay rich gouge. Since these
intervals of missing geologic and assay data occur within some of the
mineralized shear zones, drilling was not completely successful in
testing the near surface mineralized zones.
Although a high density of veining is present in drill core, only three
holes contain strongly elevated gold values within five separate shear
zones, ranging from 1.16 to 3.68 g/t gold restricted to single
intervals 0.38 m to 1.41 m in thickness.
Hole WRDH-3 contains an average of 0.36 g/t gold over 15.60 m with numerous missing intervals resulting in approximately 70% core
recovery overall. All gold mineralized zones contain highly elevated
arsenic in excess of 10,000 ppm and bismuth up to 1,250 ppm. This
arsenic-bismuth signature occurs as a halo up to 7.85 m thick around
anomalous gold and resembles that observed in surface sampling and soil
geochemistry.
Elevated silver up to 30 g/t and copper up to 0.42% are also present.
Results for one additional drill hole located 100 m west along the
trace of the HG Zone are pending.
Although bonanza grade gold was not intercepted within the small portion
of the HG Zone tested by this phase of drilling, Driven management
remains encouraged by the size and character of the gold mineralized
system present on the property as indicated by surface sampling,
trenching and now drilling. The Western Target Area (HG, Cool, MB, MS1
and MS2 Zones) is about 3 square kilometres in size, poorly exposed at
the surface and in management's opinion has good potential for
concealed gold deposits.
The presence of a high density of complex, multi-episodic veining,
well-developed structural preparation and the abundance of blind
mineralized zones in drilling indicate the presence of a large and
vigorous hydrothermal system. Near surface mineralization can be
characterized as lower epithermal.
The geologic environment and the distinct gold-arsenic-bismuth
geochemical signature present in the Western Target Area,
characteristic of most gold deposits within the Tintina gold belt,
suggest good potential for similar mesothermal deposits at depth.
Surface geologic mapping shows a large-scale, low-angle thrust faults
underlie the target area at depth, which could provide a potentially
significant host structure for gold mineralization in conjunction with
the abundance of high-angle feeder structures.
Driven will await final assay results from one additional hole drilled
in the HG Zone, and two holes drilled in the Cool Zone, to complete its
evaluation of the 2012 program and to plan future strategies which may
include deeper exploration.
"While the results of our first pass were unexpected, our intrigue with
White River has only deepened," stated Toma Sojonky, President & CEO.
"The lack of correlation between prior surface exploration results, our
very favourable observations down-hole and our assays warrant
consideration of all data and possible new approaches for this
apparently large, well developed alteration system."
All assays were carried out by ALS Canada Ltd., with sample preparation
in Whitehorse and analysis in North Vancouver. Gold and silver were
analyzed by 30 g fire assay with gravimetric finish;
thirty-five-element ICP analysis with four-acid digestion was also
conducted.
The Company plans to carry out check-assays of certain core samples
using method fire assay with AA finish, and in some cases using Acme
Analytical Laboratories (Vancouver) Ltd.
U. Peter Kurisoo, CPG, Chief Geologist and a Director of the Company, is
the Qualified Person as defined under National Instrument 43-101, who
has reviewed the technical information in this news release.
Driven Capital Corp. is deploying its accomplished technical and management team toward the
exploration of its portfolio of highly prospective precious metals
projects in the Yukon and British Columbia.
On Behalf of the Board of Directors of Driven Capital Corp.
"Toma Sojonky"
Toma Sojonky, President & CEO
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(as that term is defined in the policies of the TSX Venture Exchange)
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SOURCE: Driven Capital Corp.
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SOURCE: Driven Capital Corp.
please contact Toma Sojonky, President & CEO, at (604) 569-0799, orvisitwww.DrivenCapital.ca.
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