Driven applies for drill permit at Blackwater East
VANCOUVER, May 9, 2012
TSX Venture Exchange: DVV
VANCOUVER, May 9, 2012 /CNW/ - 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
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
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
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, 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.