SAN FRANCISCO, Feb. 05, 2019 (GLOBE NEWSWIRE) -- 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.
Company mentioned: Doubleview Capital Corp.
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.
"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," stated Doubleview President and CEO Farshad Shirvani.
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.
Continue reading this article: Mineral Resource Firm Options BC Copper-Silver-Zinc Project
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The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Doubleview and Mucho Cobre, companies mentioned in this article.
John Newell manages the Fieldhouse Global Precious Fund Class G, which does not own shares of Doubleview. He, or members of his household, do not hold shares of Doubleview.
The full disclosure is provided at the article's end: Mineral Resource Firm Options BC Copper-Silver-Zinc Project