Discovery Metals Corp. (TSX-V: DSV) (“Discovery”
or the “Company”) is pleased to announce assay results of 112
underground samples from its drill-permitted Minerva Ag-Zn-Pb
project (“Minerva” or “the Project”) in Coahuila State, Mexico.
Three key underground areas were sampled: Mina Minerva, Concordia
and Tercia.
Gernot Wober, VP Exploration stated, “The
first-ever documented underground results from the historic mines
at Minerva were impressive. Mapping and sampling of the underground
workings, in addition to surface work completed previously,
continues to indicate that the mineralizing system is very high
grade. The current results are extremely positive and support the
drilling program that we plan to initiate later this year, the
first drilling the Project has ever seen.”
First underground results from Mina
Minerva:At Mina Minerva, underground workings consist of
approximately 460 metres (“m”) of lateral development and two
vertical shafts, 30 m and 59 m deep, respectively. Seventy-eight
samples were taken, dominantly representing manto and vein
mineralization encountered during mapping; sixty-two of these
samples returned grades higher than 150 grams per tonne silver
equivalent (“g/t AgEq1) with an average grade of 1,594 g/t AgEq1.
Fifty-three of these samples returned grades higher than 500 g/t
AgEq1 with an average grade of 1,804 g/t AgEq1.
The top 40 underground channel sample results by
AgEq1 from Mina Minerva are listed below in Table 1.
Table 1: Underground sample results from
the Mina Minerva area
Sample number |
Width(m) |
Ag (g/t) |
Zn (%) |
Pb (%) |
Cu (%) |
AgEq1 (g/t) |
ZnEq1 (%) |
Mineralization type |
118877 |
0.4 |
8,880 |
8.7 |
43.2 |
2.30 |
11,420 |
n/a |
Vein |
118821 |
0.2 |
2,600 |
10.7 |
38.5 |
0.38 |
4,842 |
80.2 |
Fault |
118949 |
0.6 |
2,429 |
2.5 |
32.3 |
0.24 |
3,907 |
64.7 |
Veinlets |
118840 |
0.3 |
1,200 |
24.8 |
18.2 |
0.15 |
3,448 |
57.1 |
Vein |
118832 |
0.2 |
1,340 |
20.8 |
19.6 |
0.11 |
3,398 |
56.3 |
Vein |
118831 |
0.3 |
1,485 |
8.6 |
32.1 |
0.10 |
3,309 |
54.8 |
Manto |
118939 |
0.3 |
1,415 |
14.4 |
24.1 |
0.10 |
3,268 |
54.1 |
Manto |
118908 |
0.3 |
1,145 |
10.8 |
34.8 |
0.10 |
3,209 |
53.1 |
Manto |
118941 |
0.4 |
1,465 |
6.4 |
28.5 |
0.21 |
3,027 |
50.1 |
Fault |
118834 |
0.3 |
310 |
41.6 |
3.9 |
0.04 |
2,981 |
49.4 |
Manto |
118905 |
0.5 |
220 |
34.6 |
13.2 |
0.05 |
2,844 |
47.1 |
Manto |
118827 |
0.3 |
1,465 |
3.8 |
22.2 |
0.25 |
2,619 |
43.4 |
Manto |
118843 |
0.2 |
1,425 |
7.7 |
16.4 |
0.29 |
2,584 |
42.8 |
Manto |
118906 |
0.3 |
19 |
40.8 |
1.3 |
0.06 |
2,545 |
42.2 |
Manto |
118901 |
0.4 |
1,060 |
5.8 |
26.4 |
0.11 |
2,487 |
41.2 |
Manto |
118902 |
0.2 |
335 |
33.4 |
2.8 |
0.09 |
2,473 |
41.0 |
Manto |
118879 |
0.2 |
1,180 |
5.1 |
22.9 |
0.36 |
2,453 |
40.6 |
Vein |
118909 |
1.0 |
34 |
37.8 |
3.0 |
0.04 |
2,438 |
40.4 |
Limestone |
118833 |
0.2 |
378 |
27.1 |
2.5 |
0.03 |
2,117 |
35.1 |
Vein |
118835 |
0.3 |
630 |
13.9 |
13.5 |
0.09 |
2,023 |
33.5 |
Manto |
118904 |
0.5 |
396 |
18.9 |
11.4 |
0.05 |
2,000 |
33.1 |
Manto |
118822 |
0.4 |
791 |
11.4 |
10.2 |
0.14 |
1,906 |
31.6 |
Fault Zone |
118919 |
0.2 |
1,035 |
10.9 |
4.7 |
0.07 |
1,890 |
31.3 |
Manto |
118828 |
0.6 |
624 |
12.9 |
7.6 |
0.08 |
1,718 |
28.5 |
Manto |
118824 |
0.2 |
79 |
26.3 |
1.0 |
0.03 |
1,711 |
28.3 |
Manto |
118915 |
0.6 |
195 |
23.4 |
2.3 |
0.05 |
1,705 |
28.2 |
Manto |
118938 |
0.3 |
470 |
15.5 |
6.6 |
0.07 |
1,679 |
27.8 |
Manto |
118912 |
1.4 |
131 |
22.2 |
2.7 |
0.04 |
1,586 |
26.3 |
Manto |
118820 |
0.3 |
172 |
17.4 |
6.4 |
0.04 |
1,483 |
24.6 |
Fault |
118814 |
0.3 |
223 |
8.1 |
18.3 |
0.15 |
1,466 |
24.3 |
Manto |
118815 |
0.3 |
624 |
10.5 |
4.8 |
0.05 |
1,455 |
24.1 |
Manto |
118823 |
0.3 |
303 |
12.4 |
7.0 |
0.11 |
1,344 |
22.3 |
Manto |
118825 |
0.3 |
474 |
4.5 |
11.3 |
0.13 |
1,216 |
20.1 |
Manto |
118918 |
0.5 |
148 |
12.8 |
6.1 |
0.08 |
1,174 |
19.4 |
Manto |
118943 |
1.0 |
190 |
10.6 |
7.7 |
0.11 |
1,150 |
19.0 |
Fault |
118945 |
0.3 |
541 |
3.2 |
8.5 |
0.06 |
1,086 |
18.0 |
Fault |
118923 |
0.8 |
287 |
8.7 |
6.1 |
0.10 |
1,069 |
17.7 |
Manto |
118916 |
0.2 |
255 |
10.2 |
3.8 |
0.04 |
1,030 |
17.1 |
Manto |
118819 |
0.7 |
279 |
1.4 |
16.2 |
0.08 |
1,027 |
17.0 |
Fault |
118844 |
0.9 |
517 |
5.7 |
3.3 |
0.07 |
1,000 |
16.6 |
Vein |
A large number of samples that returned
>1,000 g/t AgEq1 are contiguous along the same trends and
orientations. These results indicate a very high grade and
continuous tenor for the mineralizing system represented in these
workings.
Manto mineralization strikes both northwest and
east-west with 18 to 28 degree north to northeast dips. The mantos
are up to 1m thick within strongly recrystallized limestone and
consist of mainly goethite, minor hematite, and scarce jarosite.
Pervasive white to light brown calcite, fine iron oxide boxwork
after sulfide veinlets and rare malachite staining, stratiform
galena bands and erratic galena clumps or nodules are also present
locally, as well as sporadic chalcedonic quartz in the limestone,
hinting at a possible late-stage mineralizing event. Narrower
mineralized bodies (small mantos) are parallel to the hangingwall
and footwall of the main manto, and often join the main manto along
strike. This form of mineralization shows that potential for
parallel or stacked mineralization exists within the limestone
host. Locally, fault zones contain minor mineralized breccia
zones.
First underground results from
Concordia:
Two historic underground workings were accessed
within the Concordia area for mapping and sampling purposes,
including El Buitre mine and El Jabali mine. A total of 27 channel
samples were taken to represent the mineralization encountered. The
highest-grade silver value was 848 g/t (including 2.7% Zn, 12.5%
Pb, 0.24% Cu) representing a 0.7m channel sample in limestone on
the west wall of the main access in the El Buitre Mine. Thirteen
samples returned grades higher than 150 g/t AgEq1 with an average
grade of 508 g/t AgEq1. In addition, five of these samples returned
assays greater than 500 g/t AgEq1 with an average grade of 803 g/t
AgEq1.
The top 10 underground channel sample results by
AgEq1 from Concordia are listed below in Table 2.
Table 2: Underground sample results from
the Concordia Area
Samplenumber |
Width(m) |
Ag (g/t) |
Zn (%) |
Pb (%) |
Cu (%) |
AgEq1 (g/t) |
ZnEq1 (%) |
Mineralization type |
118958 |
0.7 |
848 |
2.7 |
12.5 |
0.24 |
1,540 |
25.5 |
Limestone |
118884 |
0.8 |
320 |
0.0 |
13.0 |
0.06 |
851 |
14.1 |
Vein |
118956 |
0.4 |
328 |
1.3 |
6.7 |
0.07 |
686 |
11.4 |
Limestone |
118883 |
0.5 |
450 |
0.2 |
4.8 |
0.07 |
663 |
11.0 |
Vein |
118964 |
0.8 |
57 |
8.1 |
1.2 |
0.03 |
597 |
9.9 |
Limestone |
118893 |
1.1 |
267 |
0.4 |
6.3 |
0.06 |
555 |
9.2 |
Vein |
118962 |
0.6 |
206 |
1.7 |
4.5 |
0.08 |
497 |
8.2 |
Limestone |
118959 |
0.5 |
207 |
2.2 |
2.6 |
0.04 |
445 |
7.4 |
Limestone |
118961 |
0.9 |
20 |
5.4 |
2.3 |
0.04 |
443 |
7.3 |
Limestone |
118963 |
0.4 |
48 |
2.4 |
2.1 |
0.02 |
277 |
4.6 |
Limestone |
El Buitre mine contains approximately 55 m of
tunnels in mineralized wall rock containing veins and breccias,
with mineralization dominated by goethite mixed with light brown
calcium carbonates and erratic calcite veinlets.
El Jabali mine represents a 15x15 m, steeply
inclined excavation with two cross cuts and a 9 m vertical shaft to
surface within limestone and quartz diorite. Most of the
mineralization at the El Jabali mine is in the form of veins, with
one breccia identified. Vein mineralogy is dominated by strong
goethite mixed with light brown carbonates, sporadic specks of
galena, and intermittent brecciated intervals.
First results from underground at
Tercia:
One small underground working within quartz
diorite was accessed at the Tercia area. A total of seven samples
returning grades greater than 150 g/t AgEq with an average of 417
g/t AgEq were taken from brecciated zones, likely representing
faults within the diorite. Three of these samples returned grades
greater than 500 g/t AgEq with an average grade of 620 g/t
AgEq.
All seven of the underground channel sample
results by AgEq1 from Tercia are listed below in Table 3.
Table 3: Underground sample results from
the Tercia area
Samplenumber |
Width(m) |
Ag (g/t) |
Zn (%) |
Pb (%) |
Cu (%) |
AgEq (g/t) |
ZnEq (%) |
Mineralization type |
118974 |
0.5 |
226 |
0.2 |
15.5 |
0.02 |
867 |
14.4 |
Breccia |
118971 |
0.5 |
181 |
0.2 |
10.0 |
0.01 |
597 |
9.9 |
Breccia |
118968 |
1.3 |
124 |
3.2 |
6.1 |
0.01 |
563 |
9.3 |
Breccia |
118973 |
0.7 |
103 |
0.2 |
7.7 |
0.01 |
424 |
7.0 |
Breccia |
118972 |
0.9 |
93 |
0.3 |
5.4 |
0.01 |
328 |
5.4 |
Fault |
118967 |
1.0 |
51 |
1.2 |
2.9 |
0.01 |
238 |
3.9 |
Breccia |
118969 |
0.5 |
40 |
0.3 |
2.7 |
0.01 |
166 |
2.8 |
Breccia |
The mineralized breccias consist of weak
goethite, scarce hematic stringers, abundant calcite and variable
amounts of galena spots and veinlets.
All channels reported in this release, from all
areas, were chip-cut perpendicular to mineralization, and sampling
locations and channel widths were restricted to the extent of
historic workings. Please see the References section below for
access to graphics related to this news release.
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 the Minerva project
The Minerva project is located 230 km west
northwest of the city of Melchor Muzquiz in Coahuila State, Mexico,
30 km west of the La Encantada silver mine (“La Encantada”) owned
by First Majestic Silver Corp., and within 20-100 km of Discovery’s
other projects in Coahuila State. Minerva encompasses Ag-Pb-Zn
mineralization hosted in skarns, mantos, chimneys and breccias
similar to those at La Encantada.
The project is located within the Sabinas Basin
that serves as depositional site for an approximately 6,000 m thick
section of Jurassic to Cretaceous siliciclastic, carbonate, and
evaporitic rocks. The Sabinas Basin is bound by the regional San
Marcos and La Babia faults and contains important deposits of
Mississippi Valley Type (“MVT”), evaporite hosted barite, fluorite,
and celestine, paleo-karstic Zn-Pb, and carbonate replacement
deposits.
The Minerva project is characterized by a
sequence of thick bedded limestones with black chert nodules of the
Santa Elena formation, overlying the Washita group consisting of
interbed thin clayey and sandy limestones. Intruding this
sedimentary package are numerous Tertiary diorite, quartz diorite,
and andesites as stocks, sills and dikes. The regional northwest
trending, symmetrical anticlines and synclines that form ranges and
valleys were created by the compressive Laramide Orogeny during the
Eocene which was followed by a relaxation period resulting in the
basin and range morphology evident today.
Discovery is carrying out the first significant
modern exploration program on three main zones of historical
workings and mineralization called La Tercia, Concordia, and
Minerva. All three locations have been subject to artisanal
mining, with the most extensive historical workings in the Mina
Minerva area. Peñoles (Industrias Peñoles S.A.B. de C.V.) built a
mine and processing plant at Mina Minerva in the 1940’s and
produced an unknown quantity of ore from shallow underground
workings before turning its attention to La Encantada in the
1960s.
For more information on the Minerva project,
please refer to previous news releases located at:
https://dsvmetals.com/projects/minerva/.
ABOUT DISCOVERY METALS
Discovery is exploring one of the world’s
largest silver resources at its 100%-owned Cordero Project in
Chihuahua State, Mexico. The 37,000 hectare property covers an
entire porphyry district that hosts the announced resource and
numerous exploration targets for bulk tonnage diatreme-hosted,
porphyry-style, and carbonate replacement deposits. In addition,
Discovery is focused on discovering and advancing high-grade
silver-zinc-lead deposits in a land package of approximately
150,000 hectares covering a historic mining district in Coahuila
State, Mexico. The portfolio of three large-scale, drill-ready
projects and several earlier-stage prospects, all with shallow,
high-grade 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 there was no modern exploration or drill testing
on the properties prior to the work carried out by Discovery.
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 Graphics associated with this news release can
be found
at:https://dsvmetals.com/site/assets/files/5035/2019-08-nrappendix-minerva.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 0.5-2.5 m) and a minimum channel
thickness of 60 mm and minimum channel depth of 30 mm. 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 g 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 30 g pulp and
gravimetric finish. Certified standards and blanks were routinely
inserted into all sample shipments to ensure integrity of the assay
process.
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.
Discovery Silver (TSXV:DSV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Discovery Silver (TSXV:DSV)
Historical Stock Chart
From Jul 2023 to Jul 2024