Discovery Returns Strongest Grades to Date From its Puerto Rico Project Channel Sampling Program
July 18 2018 - 7:00AM
Highlights
Discovery Metals Corp. (TSX-V:DSV) (“Discovery” or
the “Company”) is pleased to announce the first batch of assay
results from its detailed underground channel sampling program at
the San Jose mine (“San Jose”), one of three historic mines
comprising its flagship Puerto Rico project (“Puerto Rico” or “the
Project”) in northern Coahuila State, Mexico. This follows up on
sampling carried out at the Zaragoza mine (“Zaragoza”), located
approximately 0.5km away SE along strike (results available at
www.dsvmetals.com).
Taj Singh, P.Eng, President & CEO, states,
“These new assay results from San Jose are the highest grades we’ve
seen to date at the Project. These, along with the strong sampling
results received over the past several months from our sampling
program at Puerto Rico, have continually reaffirmed its potential
as a world-class carbonate replacement deposit. The results are
bringing the Project into focus, with several very strong drill
targets emerging. Our understanding of the system has greatly
increased since the beginning of the sampling program and we
continue to expect drilling commencement in 2H 2018, once our
surface exploration and drill targeting work is completed.”
Results & Discussion
Based on Discovery’s recent survey work, San
Jose contains approximately 630m of underground drifts and stopes
over four levels (from bottom to top: the Chuyon, Haulage, Rope and
Upper levels) with all 71 channel samples taken from the Chuyon
level. Channel samples were collected at 3-5m intervals along both
sides of the entire length of the developed workings. This first
batch of assay results represents approximately 140m of workings.
Sampling methodology is outlined in detail in the Technical Notes
section of this release; sampling locations and widths were
restricted to the extent of historic workings. The table below
highlights assay results of 15 of the most significant channels
from the Chuyon level:
Samplenumber |
Width(m) |
Ag (g/t) |
Zn (%) |
Pb (%) |
Cu (%) |
AgEq (g/t) |
ZnEq(%) |
Mineralization type /Host rock |
215614 |
0.7 |
440 |
17.2 |
49.5 |
0.3 |
3,501 |
58.0 |
manto |
215629 |
0.5 |
97 |
45.6 |
0.6 |
0.1 |
2,889 |
47.8 |
wallrock |
215593 |
0.7 |
511 |
23.8 |
16.1 |
0.2 |
2,623 |
43.4 |
manto |
215598 |
1.0 |
324 |
32.8 |
4.0 |
0.2 |
2,481 |
41.1 |
manto |
215595 |
1.1 |
363 |
26.6 |
3.9 |
0.6 |
2,195 |
36.4 |
manto |
215647 |
0.7 |
118 |
30.0 |
0.9 |
0.1 |
1,983 |
32.8 |
wallrock |
215622 |
1.2 |
373 |
15.7 |
11.7 |
0.9 |
1,903 |
31.5 |
manto |
215632 |
0.4 |
47 |
29.4 |
1.7 |
0.1 |
1,901 |
31.5 |
fault |
215592 |
0.5 |
237 |
2.6 |
35.8 |
0.2 |
1,855 |
30.7 |
fault |
215646 |
0.3 |
609 |
15.5 |
4.1 |
0.8 |
1,802 |
29.8 |
manto |
215627 |
1.7 |
32 |
27.4 |
0.8 |
0.2 |
1,735 |
28.7 |
manto |
215608 |
0.8 |
145 |
23.6 |
2.5 |
0.1 |
1,682 |
27.9 |
manto |
215569 |
0.5 |
119 |
13.6 |
15.6 |
0.1 |
1,581 |
26.2 |
manto |
215624 |
0.5 |
153 |
10.6 |
17.8 |
0.1 |
1,524 |
25.2 |
manto |
215634 |
1.0 |
114 |
5.6 |
23.6 |
0.1 |
1,414 |
23.4 |
fault |
Note: All numbers in this news release are
rounded and assays are uncut and undiluted; ZnEq calculation based
on USD $17/oz Ag, $1.50/lb Zn, $1.00/lb Pb, $3.00/lb Cu and does
not consider metallurgical recovery.
Key Points:
- San Jose returned the highest single value samples of Zn
(45.6%), Pb (49.5%) and Cu (5.1%) seen to date on the Project;
- One manto (N80ºW strike, 25-35ºNE dip), one chimney (N42ºW,
70ºSW dip), and two mineralized faults (N30ºW strike, 45-55ºSW dip)
were identified.
- A significant degree of consistency was documented throughout
the high-grade results. Over the entire level, the average grades
of the key mineralization types were:
- manto (14 samples) – 229 g/t Ag, 17.6% Zn, 9.3% Pb, 0.3% Cu
(28.2% ZnEq); and
- chimney / faults (33 samples) – 50 g/t Ag, 4.0% Zn, 3.5% Pb,
0.8% Cu (9.2% ZnEq).
- Cu values were materially higher than those returned from
Zaragoza, indicating potential proximity to an intrusive source.
The highest values of Cu were hosted within chimneys and faults.
The two top Cu channel samples were:
- 1.4m of 5.1% Cu, 43 g/t Ag, 0.4% Zn+Pb in sample 215584;
and
- 1.2m of 3.5% Cu, 21 g/t Ag, 0.2% Zn+Pb in sample 215585.
- The manto width ranges from 0.5-1.5m (restricted by dimensions
of workings) and is open in all directions laterally (along strike
and dip width).
- The chimney width ranges from 1-6m, with the main part of the
chimney having a width of 5-6m. The chimney is open along strike
and vertically (at depth and to above levels).
- The mineralized faults widths range from 0.4-1.4m, and are open
along strike and vertically (at depth and to above levels).
- The wallrock on the Chuyon level was well mineralized and
posted the highest average ZnEq grade of all wallrock in
underground workings sampled thus far at the Project. The wallrock
averaged 20 g/t Ag, 3.9% Zn, 0.8% Pb, and 0.2% Cu (5.0% ZnEq). This
continues to suggest that larger mining widths may be possible
rather than selectively mining mantos, chimneys, and faults
individually;
- The alteration types and mineralization at San Jose are very
similar to those seen at Zaragoza. Ag-Pb-Zn-Cu mineralization is
present in limestone-hosted flat-lying mantos and sub-vertical
chimneys and faults. These mineralized bodies have undergone
surficial oxidation, resulting in a mix of metal-bearing sulphides
and oxides. The predominant alteration types occurring at San Jose
include moderate to strong recrystallization of limestone wallrock,
calcite veining, and iron oxide alteration.
Project Plans
Sampling of the San Jose mine area is complete,
and the remaining results are expected in the coming weeks, while
sampling of the Puerto Rico mine area is still underway. In
addition to the underground mapping program at the Project,
Discovery is carrying out a detailed and property-wide structural
study to identify controls on mineralization and aid in drill
targeting. Additionally, within the next several weeks the Company
is also planning to conduct a magnetic survey on the Project in
preparation for drilling later in 2H 2018.
On Behalf of the Board of Directors
“Taj Singh”
Taj Singh, M.Eng, P.Eng, CPA President, Chief
Executive Officer, and Director
REFERENCES
For a full table of results, maps and graphics related to this
news release, please refer to:
https://dsvmetals.com/site/assets/files/5187/2018-july-nr-sj-results-1-appendix.pdf
TECHNICAL NOTES
Sample
analysis and QA/QC
Program: The rock chip and channel samples were taken
perpendicular to mineralization, with variable length (across width
of mineralization, typically 0.5m-2.5m) and a minimum channel
thickness of 60mm and minimum channel depth of 30mm. The entire
volume of each chip or channel sample was transported from site by
ALS and prepared at the ALS lab facilities in Zacatecas and
Chihuahua facilities, with splits of pulps shipped to the ALS lab
in Vancouver for analysis. Samples were analyzed for gold using (1)
a standard fire assay with a 30-gram pulp and Atomic Absorption
(AA) finish for gold; and (2) Thirty-element inductively coupled
plasma atomic emission spectrometry (“ICP-AES”). Over limit sample
values were re-assayed for: (1) values of zinc > 10%; (2) values
of lead > 10%; and (3) values of silver > 100 g/t. Samples
were re-assayed using the ME-OG62 (high-grade material ICP-AES)
analytical package. For values of zinc or lead greater than 30%, a
third re-assay using the Zn-VOL50 or Pb-VOL50 (potentiometric
titration) analytical method was used while values of silver
greater than 1,500 g/t, were re-assayed using the Ag-CON01
analytical method, a standard fire assay with 30g pulp and
gravimetric finish. Certified standards and blanks were routinely
inserted into all sample shipments to ensure integrity of the assay
process.
Qualified
Person: Taj Singh, M.Eng, P.Eng, President and
CEO, Discovery Metals Corp., is the Company's designated Qualified
Person for this news release within the meaning of National
Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI
43-101”) and has reviewed and validated that the information
contained in this news release is accurate.
ABOUT DISCOVERY METALS
Discovery Metals is focused on discovering and
advancing high grade polymetallic deposits in a recently assembled
land package of approximately 300,000 hectares over a large and
historic mining district in northern Coahuila State, Mexico. The
portfolio of seven key properties, all with shallow high-grade
silver-zinc-lead mineralization, is situated in a world class CRD
belt that stretches from southeast Arizona to central Mexico. The
land holdings contain numerous historical direct-ship ore workings
with approximately 4km of underground development. No modern
exploration or exploration drill testing has been carried out on
the properties prior to Discovery’s time on the projects.
For further information contact: Discovery Metals Corp.#701 - 55
University AveToronto, ON Canada M5J 2H7info@dsvmetals.com
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accuracy of this release.
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Forward-Looking Statements This news release may include
forward-looking statements that are subject to inherent risks and
uncertainties. All statements within this news release, other than
statements of historical fact, are to be considered forward
looking. Although the Company believes the expectations expressed
in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those described in forward-looking statements.
Factors that could cause actual results to differ materially from
those described in forward-looking statements include fluctuations
in market prices, including metal prices, continued availability of
capital and financing, delays in receipt of required permits, and
general economic, market or business conditions. There can be no
assurances that such statements will prove accurate and, therefore,
readers are advised to rely on their own evaluation of such
uncertainties. We do not assume any obligation to update any
forward-looking statements except as required under applicable
laws.
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