TSX Venture Exchange: DVV
Frankfurt Stock Exchange: DV1
VANCOUVER, Sept. 10, 2012 /CNW/ - Driven Capital Corp. (TSXV: DVV) (FSE: DV1) ("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,
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.
(TSXV: TCC, "Tarsis") 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
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
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
"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, 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.
SOURCE: Driven Capital Corp.
For further information:
please contact Toma Sojonky, President & CEO, at (604) 569-0799, or visit www.DrivenCapital.ca.