Driven receives drill permit for Blackwater East
Published on Thursday, 09 August 2012 09:38 Written by TradersHuddle Staff
TSX Venture Exchange: DVV
Frankfurt Stock Exchange: DV1
VANCOUVER, Aug. 9, 2012 /PRNewswire/ - Driven Capital Corp. (TSXV: DVV) (FSE: DV1) ("Driven" or the "Company") is pleased to advise that its application for a permit to conduct diamond core drilling on its 100% optioned Blackwater East project located on the Nechako Plateau of British Columbia has been approved.
The BC Ministry of Energy & Mines has awarded Driven a Multi-Year Area Based (MYAB) permit, for up to 2,000 metres of drilling located within the prospective south-southeastern areas of the property.
The previously announced geophysical work in these areas (see news release dated June 25, 2012) has been completed. Personnel from Peter E. Walcott & Associates Limited and Company management are interpreting the results in conjunction with both regional/historical data and the 2011 soil geochemical results. This analysis will dictate target selection and help prioritize the now-permitted drill program.
"All three of Driven's properties are now permitted to be drilled," stated Toma Sojonky, President & CEO. "Our decision to drill Blackwater East will be based on the geophysical analysis, our financial position and, as a matter of corporate strategy, the results of our drilling underway at White River."
Blackwater East is comprised of 23 contiguous mineral claims totaling approximately 8,472 hectares on the Omineca Mining Division's prolific Nechako Plateau. Driven's 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; please 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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