The Prospector News

Discovery Intersects 247 g/t AgEq over 50 m in Phase 2 Drilling at Cordero

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Discovery Intersects 247 g/t AgEq over 50 m in Phase 2 Drilling at Cordero

 

 

 

 

 

Discovery Silver Corp. (TSX-V: DSV, OTCQX: DSVSF) is pleased to announce results from 23 holes from its Phase 2 drill program on its flagship Cordero silver project located in Chihuahua State, Mexico. This current set of results is focused on upgrading resources for the Pre-Feasibility Study planned for later this year.

 

Highlight intercepts include:

  • 49.9 m averaging 247 g/t AgEqfrom 124.5 m (99 g/t Ag, 0.26 g/t Au, 1.9% Pb and 1.8% Zn) including 21.4 m averaging 446 g/t AgEq1 (185 g/t Ag, 0.46 g/t Au, 3.5% Pb & 3.2% Zn) in hole C21-533
  • 46.8 m averaging 288 g/t AgEqfrom 366.5 m (61 g/t Ag, 0.07 g/t Au, 1.4% Pb and 4.8% Zn) in hole C21-556
  • 113.6 m averaging 101 g/t AgEqfrom 160.9 m (28 g/t Ag, 0.09 g/t Au, 0.2% Pb and 1.6% Zn) in hole C21-555
  • 165.0 m averaging 92 g/t AgEqfrom 399.8 m (33 g/t Ag, 0.06 g/t Au, 0.7% Pb and 0.9% Zn) including 31.3 m averaging 141 g/t AgEq1 (58 g/t Ag, 0.07 g/t Au, 1.1% Pb & 1.2% Zn) in hole C21-545

 

Taj Singh, President and CEO, states: “Our initial Phase 2 drill holes have been focused on upgrade drilling within the very large open pit outlined in our Preliminary Economic Assessment in late 2021. The drill results in today’s release intercepted broad zones of higher-grade mineralization within the pit outline and will enhance the resource definition for our PFS which we anticipate delivering later this year. In conjunction with this upgrade drilling we remain focused on the growth potential at Cordero with recent drilling shifting to the northeast of deposit targeting the potential expansion of both the open pit and the overall resource for the project. In addition, our first ever drilling of our property-wide targets is expected to commence in the coming months. We have also recently commenced our next phase of metallurgical test work as well as finalised the scope for the PFS engineering drilling in what is shaping up to be a very busy year for the Company.”

 

DRILL RESULTS:

 

This current set of Phase 2 drill holes was focused on upgrading resources in both the North and South Corridors for the PFS mine plan. The PFS is scheduled for completion in the fourth quarter of this year.

 

In the South Corridor hole C21-555drilled in the northeast of the corridor, intercepted 113.6 m of 101 g/t AgEqfrom 160.9 m, confirming and potentially expanding downdip the higher-grade zone in this part of the deposit. Hole C21-547, drilled along the same section, reported a number of long mineralized intervals including 34.9 m of 133 g/t AgEq1 from 392.6 m; this interval was below the PEA pit outline in an area modeled as low to medium grade. Hole C21-545 intercepted 165.0 m of 92 g/t AgEq1 confirming the downdip extension of the high-grade zone reported in C20-343 (401.7 m of 134 g/t AgEq1, see September 14, 2020, press release).

 

In the North Corridor drilling was predominantly focused on the NE Extension zone. All four holes drilled in this zone intercepted broad zones of mineralization relatively close to surface and within the open pit outline. Highlight intercepts from these holes include 49.9 m of 247 g/t AgEq(C21-533), 56.4 m of 105 g/t AgEqfrom 188.5 m (C21-539), 26.2 m of 114 g/t AgEqfrom 105.6 m (C21-520) and 29.7m of 112 g/t AgEqfrom 111.4 m (C21-526).

 

Drill hole locations are shown in Figure 1 (see links below) and detailed drill highlights from the holes in this release are provided in the table below.

 

Hole ID From
(m)
To
(m)
Width (m) Ag
(g/t)
Au
(g/t)
Pb
(%)
Zn
(%)
AgEq1   (g/t) Location
C21-520 105.6 131.8 26.2 34 0.49 0.8 0.5 114 NE Extension
                   
C21-526 111.4 141.1 29.7 41 0.35 0.8 0.5 112 NE Extension
                   
C21-533 68.2 84.6 16.4 24 0.24 0.6 0.8 91 NE Extension
and 124.5 174.4 49.9 99 0.26 1.9 1.8 247
including 153.0 174.4 21.4 185 0.46 3.5 3.2 446
                   
C21-539 69.8 96.0 26.2 36 0.05 0.5 0.6 78 NE Extension
and 188.5 244.9 56.4 38 0.14 0.8 0.9 105
                   
C21-552 32.4 113.1 80.7 42 0.41 0.4 0.6 103 SW Extension
                   
C21-530 116.3 134.4 18.1 55 0.12 0.5 1.6 138 South Corridor
                   
C21-531 87.2 108.1 20.9 41 0.06 0.8 1.7 134 South Corridor
and 187.0 205.1 18.1 52 0.04 1.2 1.9 161
                   
C21-536 107.0 128.1 21.1 92 0.05 0.8 0.8 151 South Corridor
and 159.4 180.0 20.7 48 0.09 0.4 0.9 98
                   
C21-543 163.3 196.9 33.7 28 0.09 0.3 1.3 91 South Corridor
and 379.9 406.8 26.9 72 0.10 1.1 2.3 198
                   
C21-545 399.8 564.8 165.0 33 0.06 0.7 0.9 92 South Corridor
and 436.2 461.8 25.7 45 0.08 1.0 1.0 119
including 512.0 543.3 31.3 58 0.07 1.1 1.2 141
                   
C21-547 30.0 134.1 104.1 36 0.09 0.3 0.3 64 South Corridor
and 268.1 330.6 62.5 17 0.02 0.2 0.9 59
and 388.9 452.8 64.0 28 0.04 0.1 1.5 93
including 392.6 427.5 34.9 36 0.04 0.2 2.4 133
                   
C21-554 197.0 231.5 34.6 26 0.03 0.1 1.3 78 South Corridor
and 520.8 544.1 23.3 52 0.06 1.1 2.0 167
and 567.5 590.2 22.7 40 0.08 0.6 1.2 109
                   
C21-555 160.9 274.5 113.6 28 0.09 0.2 1.6 101 South Corridor
including 190.5 236.3 45.8 46 0.16 0.3 2.9 173
                   
C21-556 277.0 320.6 43.6 37 0.04 0.9 1.2 114 South Corridor
and 366.5 413.2 46.8 61 0.07 1.4 4.8 288
including 386.6 391.8 5.2 271 0.15 5.5 35.5 1,777
                   
C21-557 658.3 691.6 33.3 53 0.08 1.2 2.8 200 South Corridor
and 708.0 795.1 87.1 35 0.09 0.6 1.0 98

 

1All results in this news release are rounded. Assays are uncut and undiluted. Widths are drilled widths, not true widths, as a full interpretation of the actual orientation of mineralization is not complete. As a guideline, intervals with disseminated mineralization were chosen based on a 25 g/t AgEq cutoff with no more than 10 m of dilution. AgEq calculations are used as the basis for total metal content calculations given Ag is the dominant metal constituent as a percentage of AgEq value in approximately 70% of the Company’s mineralized intercepts. AgEq calculations for reported drill results are based on USD $22.00/oz Ag, $1,600/oz Au, $1.00/lb Pb, $1.20/lb Zn. The calculations assume 100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal prices. Refer to Technical Notes below for metallurgical recoveries assumed in the 2021 PEA completed on Cordero.

 

DRILL PROGRAM UPDATE:

 

The Company has now completed 47,600 m (86 holes) as part of its Phase 2 drill program (excluding drill metres used to support the 2021 Mineral Resource Estimate). Assays from 51 holes are pending. Phase 2 drilling will continue through the remainder of the year and will be focused on three key areas: (1) Pre-Feasibility Study drilling consisting of reserve definition and engineering drilling; (2) resource expansion in the northeast of the deposit and at depth; and (3) initial drill testing of five property-wide targets on the Company’s extensive land package.

 

SUPPORTING MATERIALS:

 

Supporting maps and sections, drill hole locations and full assay results can be found at the following link:

 

https://discoverysilver.com/site/assets/files/5849/20220210_dsv_sa.pdf

 

About Discovery

 

Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits. The PEA completed in November 2021 demonstrates that Cordero has the potential to be developed into a highly capital efficient mine that offers the combination of margin, size and scaleability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico. Continued exploration and project development at Cordero is supported by a strong balance sheet with cash of approximately C$70 million.

 

Posted February 10, 2022

Share this news article

MORE or "UNCATEGORIZED"


enCore Energy Closes C$34.5m Public Offering

enCore Energy Corp. (NYSE American: EU) (TSX-V: EU) announces tha... READ MORE

February 8, 2023

CANADA SILVER COBALT RELEASES COBALT - NICKEL ASSAYS OF 11 AND 4 PERCENT RESPECTIVELY FROM CONCENTRATE OF CASTLE MINE WASTE ROCK

Canada Silver Cobalt Works Inc. (TSX-V: CCW) (OTC: CCWOF) (Frankf... READ MORE

February 8, 2023

GoGold Announces Closing of C$65 Million Bought Deal Financing

GoGold Resources Inc. (TSX: GGD) is pleased to announce that it h... READ MORE

February 8, 2023

GFG Expands High-Grade Gold Mineralization at Montclerg including 8.46 g/t Gold over 5.0 Metres

KEY HIGHLIGHTS: New drill results from 8 holes continue to show s... READ MORE

February 8, 2023

Ultra Lithium Intersects 2.68 Percent Lithium Oxide at The Forgan Lake Lithium Property in Northern Ontario, Canada

Ultra Lithium Inc. (TSX-V:ULT) (OTCQB: ULTXF) (Frankfurt: QFB) i... READ MORE

February 8, 2023

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2023 The Prospector News