Discovery Metals Receives Drilling Permit for Its Monclova Project
July 11 2019 - 5:30PM
Discovery Metals Corp. (TSX-V: DSV) (“Discovery”
or the “Company”) is pleased to announce that it has been granted
drilling permits for its Monclova Ag-Zn-Pb project (“Monclova” or
“the Project”) in Coahuila State, Mexico.
Discovery’s President and CEO, Taj Singh
commented: “The receipt of the drilling permit for Monclova is a
significant step for the Company. Our team has been working
diligently to develop an exploration plan for the Project and has
delineated multiple high-potential drill targets that we can test
in 2019. This will be the first drilling ever carried out at this
past-producing, high-grade project.”
Over the last year the Company has completed
field work including surface and underground (“UG”) mapping,
sampling and a ground magnetometer survey that highlight
significant potential at a number of showings. The Real Viejo area
is the key near-term target. It hosts five historic shallow
underground mines along a strike of 1.5km at a limestone-intrusive
rock contact. Discovery’s channel sampling program at Real Viejo
consistently returned high grades. The 50 highest-grade channel
samples returned an average grade of 677 g/t AgEq1 (277 g/t Ag,
6.7% Zn, 1.9% Pb). Assays of the top 25 channel samples by AgEq1
from Real Viejo are shown below (all previously released2):
Sample |
Surface / UG |
Length (m) |
Ag (g/t) |
Zn (%) |
Pb (%) |
AgEq1 (g/t) |
ZnEq1 (%) |
Mineralization (type) |
223810 |
UG |
0.3 |
69 |
40.2 |
0.7 |
2,532 |
44.6 |
manto |
223666 |
Surface |
1.2 |
962 |
16.2 |
7.2 |
2,229 |
39.2 |
breccia |
223696 |
Surface |
1.0 |
322 |
23.7 |
1.0 |
1,795 |
31.6 |
breccia |
253080 |
UG |
1.0 |
450 |
16.1 |
2.9 |
1,558 |
27.4 |
breccia |
253075 |
UG |
0.7 |
1,005 |
5.9 |
2.1 |
1,493 |
26.3 |
breccia |
223688 |
UG |
1.0 |
280 |
16.8 |
1.9 |
1,371 |
24.1 |
breccia |
223661 |
Surface |
1.5 |
747 |
9.0 |
0.8 |
1,321 |
23.2 |
breccia |
253081 |
UG |
0.8 |
309 |
8.5 |
9.6 |
1,216 |
21.4 |
breccia |
223809 |
Surface |
1.2 |
561 |
9.7 |
1.0 |
1,190 |
20.9 |
breccia |
223697 |
Surface |
1.0 |
151 |
15 |
1.6 |
1,121 |
19.7 |
breccia |
223660 |
Surface |
1.5 |
611 |
6.1 |
1.9 |
1,056 |
18.6 |
breccia |
223675 |
UG |
1.4 |
211 |
8.9 |
6.9 |
1,027 |
18.1 |
breccia |
253085 |
UG |
1.0 |
507 |
4.0 |
6.1 |
1,018 |
17.9 |
breccia |
223659 |
Surface |
1.2 |
240 |
11.4 |
1.4 |
987 |
17.4 |
breccia |
223689 |
UG |
0.9 |
493 |
6.0 |
2.4 |
952 |
16.8 |
breccia |
223690 |
UG |
0.7 |
363 |
8.6 |
1.6 |
951 |
16.7 |
breccia |
223727 |
UG |
0.8 |
72 |
13.3 |
1.2 |
920 |
16.2 |
manto |
223725 |
UG |
0.8 |
151 |
8.8 |
5.2 |
893 |
15.7 |
manto |
223826 |
UG |
1.2 |
714 |
1.1 |
0.5 |
814 |
14.3 |
breccia |
223812 |
UG |
0.4 |
276 |
6.2 |
3.4 |
790 |
13.9 |
manto |
AVERAGE |
- |
0.9 |
380 |
10.0 |
2.5 |
1,090 |
19.2 |
- |
About the Monclova project and the Real
Viejo area:
The Monclova project, located 25km southwest of
the city of Monclova, is centered on the 12 square-km Monclova
intrusive complex, characterized by a series of intrusions of
mainly intermediate composition, that were emplaced into Cretaceous
limestones of the Aurora formation, with numerous mineral prospects
located within and surrounding the stock. Historically, miners
extracted Ag-Pb-Zn ores primarly hosted in mantos and veins and
Cu-Au-Fe ores primarily hosted in skarns. Discovery is carrying out
the first significant modern exploration program at Monclova.
The Real Viejo area is approximately 2 square-km
in size and is located along the southern contact of the Monclova
intrusive complex, where a series of east to southeast trending
Ag-Zn-Pb mineralized, silica-rich vein, replacement bodies
(mantos), skarn-altered embayment zones and breccias 2-10m wide are
located. Mineralization occurs primarily as very fine grains of
sulphides (sphalerite, galena, argentite), oxides of zinc
(hydrozincite, smithsonite) and lead (cerussite,
plumbojarosite).
For further information contact: Discovery Metals Corp., #701 -
55 University Ave, Toronto, ON Canada M5J 2H7,
info@dsvmetals.com.
On Behalf of the Board of Directors“Taj Singh”
Taj Singh, M.Eng, P.Eng, CPA President, Chief
Executive Officer, and Director
ABOUT DISCOVERY METALS
Discovery Metals is focused on discovering and
advancing high grade polymetallic deposits in a recently assembled
land package of approximately 150,000 hectares over a large and
historic mining district in northern Coahuila State, Mexico. The
portfolio of three large-scale, drill-ready projects and several
earlier-stage prospects, all with shallow high-grade
silver-zinc-lead mineralization, is situated in a world-class
carbonate replacement deposit belt that stretches from southeast
Arizona to central Mexico. The land holdings contain numerous
historical direct-ship ore workings with several kilometers of
underground development but no modern exploration or exploration
drill testing has been carried out on the properties prior to
Discovery’s time.
REFERENCES
1 All numbers in this news release are rounded
and assays are uncut and undiluted. AgEq and ZnEq calculations are
based on USD $17/oz Ag, $1.50/lb Zn, $1.00/lb Pb, and do not
consider metallurgical recovery.
2 See news releases from April 23, 2019,
November 8, 2018 and June 6, 2018 for more details.
TECHNICAL NOTES
Qualified
Person: Gernot Wober, P.Geo, V.P. Exploration,
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.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding
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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