Driven applies for drill permit at Blackwater East
TSX Venture Exchange: DVV
VANCOUVER, May 9, 2012 /PRNewswire/ - Driven Capital Corp. (TSXV: DVV) ("Driven" or the "Company") is pleased to announce that it has applied for a drill permit at its 100% optioned Blackwater East property, Nechako Plateau, British Columbia.
Driven's property (formerly referred to as Kuyakuz) is comprised of 23 contiguous mineral claims totaling 8,472 hectares, and adjoins the eastern boundaries of New Gold Inc.'s Blackwater Gold Project. New Gold's property hosts currently defined indicated and inferred resources totaling 7.8 million ounces of gold. The deposit remains open in all directions and at depth, and New Gold plans to drill over 200,000 metres at Blackwater during 2012; please refer to New Gold Inc's. news release dated March 7, 2012 for more details.
Driven's Multi-Year Area-Based permit application for Blackwater East proposes a total of 2,000 metres of diamond drilling producing NQ sized core in approximately 13 drill holes. Drilling would be confined within the prospective south-southeast areas of the property, which have already been permitted and line-cut for a forthcoming geophysical survey.
The permit area covers a regional magnetic anomaly that coincides with in-soil geochemical anomalies identified during the 2011 field season, featuring elevated levels of silver, copper, lead and zinc as well as scattered high gold values up to 530 ppb gold. Follow-up prospecting over the coincident anomalies revealed some extensive areas of moderate alteration with some included zones of silicification.
The Company has contracted Peter E. Walcott & Associates Limited to carry out 27 line kilometers of ground magnetic and induced-polarization (IP) surveys this field season. Driven has retained Coast Mountain Geological Ltd. to manage the drill permitting process.
The results from the IP and magnetic geophysical surveys in conjunction with the 2011 soil geochemical results will dictate target selection and priority for the proposed 2,000m drill program at Blackwater East.
This news release has been prepared on behalf of the Directors of the Company, who accept responsibility for its contents. Technical information has been reviewed and approved by Richard Kemp, P.Geo., a Qualified Person as defined by National Instrument 43-101.
Driven Capital Corp. is deploying its accomplished technical and management 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.
SOURCE Driven Capital Corp.
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