TSX Venture Exchange: DVV
Frankfurt Stock Exchange: DV1
VANCOUVER, Sept. 13, 2012 /CNW/ - Driven Capital Corp. (TSXV: DVV) (FSE: DV1) ("Driven" or the "Company") is pleased to announce preliminary results from the geophysical program conducted this summer on its 100% optioned Blackwater East project in the Nechako Plateau region of central British Columbia.
Thirty line kilometres of ground induced-polarization (IP) and magnetic surveying was completed over the southeastern portion of the property. This area had been identified as prospective from previously completed soil geochemical surveying and prospecting which was integrated with public domain regional geological mapping and airborne magnetics. Several well-defined IP anomalies trend northerly and northwesterly and occur adjacent to a major regional lineament believed to be a fault structure. The main north-south anomaly, which has been traced for over 1,800 metres, appears to be located near the western boundary of a felsic volcanic sequence which shows variable sericitic alteration along with local zones of phyllic (quartz-sericite-pyrite) alteration. Additionally, this area is underlain by a deep magnetic feature approximately 2 kilometres in diameter, which may represent a buried intrusive. Such an intrusive could represent the source of the alteration fluids and anomalous zinc, lead, silver, gold and copper values identified by the Company's soil sampling in 2011.
The coincidence of anomalous metals in soils, major fault structures, felsic volcanic host rocks, IP chargeability zones possibly indicative of sulphides, and low resistivity zones possibly indicative of clay alteration all located adjacent to an interpreted intrusive body are considered indications of the possible occurrence of intrusive-related gold and/or base metal mineralization. Driven intends to test these areas with a first-phase drill program, the permit for which has been awarded by the BC Ministry of Mines (see Company news release August 9, 2012).
"Driven is actively evaluating alternatives in an effort to commence drilling at Blackwater East as soon as practicable," stated Toma Sojonky, CEO. The property is adjacent to the eastern/southeastern boundaries of New Gold Inc.'s Blackwater gold project, which hosts currently defined indicated resources of 7.1 million ounces of gold, and additional inferred resources of 2.5 million ounces of gold; refer to New Gold Inc.'s news release dated July 18, 2012 for more details.
Lindsay Bottomer, P.Geo., 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.
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