Driven Capital announces drilling results & updates at White River
10 Septembre 2012 - 3:00PM
PR Newswire (Canada)
TSX Venture Exchange: DVV Frankfurt Stock Exchange: DV1 VANCOUVER,
Sept. 10, 2012 /CNW/ - Driven Capital Corp. ("Driven" or the
"Company") is announcing the balance of its first-phase drilling
results and providing a corporate update regarding its 60% optioned
White River gold-copper-silver property ("White River") in the
Yukon Territory, Canada. Balance of Drill Results Holes WRDH-05 and
WRDH-06 tested the property's Cool Zone, where surface rock samples
collected by property optionor Tarsis Resources Ltd. returned up to
18.9 g/t gold and up to 391 g/t silver. Tarsis trenches TR-MB11-03
and TR-CZ11-01 also returned samples of up to 4.24 g/t gold and 595
g/t silver, respectively. WRDH-07 tested the southern margin of the
HG Zone. Similar to initial results announced on August 16, 2012,
core displayed numerous multi-phase
calcite-arsenopyrite-chalcopyrite-pyrite mineralized veins, breccia
zones and fault systems from 0.94 to 12.95 meters in
thickness. Despite well-developed structural preparation and
evidence of extensive hydrothermal activity, gold grades are
relatively low within the shallow depths drilled. Hole WRDH-06
contains an average of 0.23 g/t gold over 7.67 m with some missing
intervals resulting in approximately 90% core recovery overall.
Near final depth, 0.94m of 2.32 g/t gold was intercepted. Hole
WRDH-07 intercepted 1.81m of 2.31 g/t gold; and again near final
depth, 1.04m of 1.39 g/t gold. All mineralized intercepts are
elevated in silver (up to 35 g/t), arsenic (up to 10,000 ppm) and
bismuth (up to 107 ppm), indicating a consistent geochemical
signature both in surface sampling and in drill samples over an
area in excess of one square kilometre. Assays were carried out by
ALS Canada Ltd., with sample preparation in Whitehorse and analysis
in North Vancouver, using 30g fire assay with AA finish.
Re-Analysis of Certain Core Samples Given the disparity between the
2010/2011 surface exploration results & recent surface sampling
(below), the favourable geology displayed by core and the drill
assay results, a partial re-analysis for gold is underway. Five
samples from four holes containing gold in massive sulphide have
been selected, which will be re-assayed by ALS using the original
30g fire-assay with gravimetric finish technique, but with flux
adjusted for the higher sulphides. Furthermore, management has
selected 35 samples from holes WRDH-2 and WRDH-3 (drilled in the HG
Zone), the coarse rejects of which were transferred last week from
ALS Whitehorse to Acme Labs Whitehorse for re-prep and re-analysis
using 30g fire assay with AA finish. Verified & New
High-Grade Gold Surface Samples Driven collected two rock samples
from trench TR-HG11-02 within the HG Zone, where Tarsis previously
reported a channel sample returning 82.2 g/t gold across 1.0 m; and
a grab and an auger sample from the core portion of the same
exposure returning 214g/t and 129g/t gold, respectively. Driven's
two samples have returned 45.4 g/t gold and 85.8 g/t gold. Two rock
samples collected from the spoil pile of trench TR-L5 within the
property's MS2 Zone, an area not tested by drilling this year,
returned 3.25 g/t gold and 18.9 g/t gold, plus highly anomalous
arsenic and bismuth. Option Agreement Amended The option agreement
executed between Driven and Tarsis included a first-year work
commitment to drill not less than 1,500 metres at White River.
Tarsis formally waived this commitment on August 23, 2012. Driven's
first-phase program consisted of 1,327 metres of diamond drilling
in seven holes, ranging in depth from 126 to 210 metres. Class 3
Permit Application Advanced Driven is pleased to announce that the
Yukon Environmental and Socio-economic Assessment Board has issued
a favourable decision document pursuant to Tarsis' application for
a Class 3 Permit at White River. Such a permit, if and when issued,
would significantly expand the scope of mineral exploration
activity on the property, including up to 20,000 metres of
drilling, 60 line-kilometres of IP surveying, and the hand or
mechanized excavation of 100 trenches totalling 10,000 cubic
metres. White River Outlook Despite initial results, Driven
management remains encouraged by White River's geologic environment
and intends to continue exploring the property. The property's
first-ever drill program and its resultant data are under review in
order to consider alternatives, which include but are not limited
to drilling the HG and Cool Zones at greater depth, and testing
other zones lower in elevation, such as the property's southern MS2
Zone, which is strongly anomalous in both gold and arsenic in soil,
and proximate to a potentially large thrust fault host structure.
"The disconnect between surface results and our initial drill
results has been perplexing, particularly given the geology seen
thus far," stated CEO Toma Sojonky. "Nonetheless, the impressive
size, robustness and complexity of White River's mineralizing
system are compelling us to review this season's work and plan a
second phase." 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 Neither the 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. Cautionary Statement
Regarding Forward-Looking Information: All statements, trend
analysis and other information contained in this press release
relative to markets about anticipated future events or results
constitute forward-looking statements. Forward-looking statements
are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "expect" and
"intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. Forward-looking statements are subject to business and
economic risks and uncertainties and other factors that could cause
actual results of operations to differ materially from those
contained in the forward-looking statements. Forward-looking
statements are based on estimates and opinions of management at the
date the statements are made. The Company does not undertake any
obligation to update forward-looking statements even if
circumstances or management's estimates or opinions should change.
Investors should not place undue reliance on forward-looking
statements. Driven Capital Corp. CONTACT: please contact Toma
Sojonky, President & CEO, at (604) 569-0799,orvisit
www.DrivenCapital.ca.
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