Driven Capital reports on first-phase drilling at White River
Friday, Aug 17, 2012
VANCOUVER, Aug. 16, 2012 /PRNewswire/ - 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.
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.
SOURCE Driven Capital Corp.