The Prospector News

Discovery Reports 2,290 g/t AgEq over 1.3 m and 1,605 g/t AgEq over 2.9 m in Vein Drilling at Cordero

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

 

 

 

 

 

Discovery Metals Corp. (TSX-V: DSV) (OTCQX: DSVMF) is pleased to announce results from 14 diamond drill holes targeting the Josefina and Todos Santos high-grade vein trends at its flagship Cordero project located in Chihuahua State, Mexico. Multiple vein trends with a combined strike extent of more than 5 km flank the higher-grade bulk-tonnage domain at Cordero; the Josefina and Todos Santos vein trends currently represent approximately 3 km of this strike extent.

 

Highlight intercepts include:

 

Josefina Vein

 

  • 1.3 m averaging 2,166 g/t AgEq¹ from 95.6 m (1,581 g/t Ag, 0.15 g/t Au, 9.9% Pb and 5.4% Zn) in hole C20-381
  • 1.0 m averaging 1,826 g/t AgEq¹ from 41.2 m (1,280 g/t Ag, 4.24 g/t Au, 1.6% Pb and 3.4% Zn) within an 8.9 m interval averaging 410 g/t AgEq¹ (267 g/t Ag, 0.91 g/t Au, 0.9% Pb, 0.8% Zn) in hole C20-382
  • 1.3 m averaging 2,290 g/t AgEq¹ from 136.7 m (1,607 g/t Ag, 2.06 g/t Au, 5.2% Pb and 8.0% Zn) in hole C20-396

 

South Corridor

 

  • 2.9 m averaging 1,605 g/t AgEq¹ from 44.4 m (992 g/t Ag, 0.73 g/t Au, 12.9% Pb and 2.4% Zn) in hole C20-383

 

Todos Santos Vein

 

  • 1.4 m averaging 1,107 g/t AgEq¹ from 135.4 m (552 g/t Ag, 0.33 g/t Au, 11.0% Pb and 3.4% Zn) within a 4.0 m interval averaging 763 g/t AgEq¹ (377 g/t Ag, 0.28 g/t Au, 7.1% Pb, 2.7% Zn) in hole C20-385
  • 1.2 m averaging 875 g/t AgEq¹ from 186.5 m (241 g/t Ag, 0.52 g/t Au, 4.6% Pb and 10.4% Zn) in hole C20-387
  • 2.8 m averaging 670 g/t AgEq¹ from 166.3 m (207 g/t Ag, 0.15 g/t Au, 3.7% Pb and 7.7% Zn) in hole C20-397

 

Taj Singh, President and CEO, states: “Our confidence in the continuity of the high-grade vein trends at Cordero continues to grow. 20 holes have now been drilled at the 1.5km Todos Santos vein trend. Remarkably, all 20 holes have intercepted the principal vein returning an average drilled width of 2.6m grading 635 g/t AgEq. At Josefina we continue to intercept bonanza grades along 1.5km of strike extent including, in this release, some of the highest grades intercepted on the project to date. We will continue to systematically advance this new and exciting component of our story as we move towards the delivery of our updated resource in 3Q 2021 and PEA in 4Q 2021. The updated resource and PEA will focus on the bulk-tonnage domain at Cordero; we hope to add the high-grade vein component to Cordero project economics in 2022.”

 

JOSEFINA VEIN:

 

The Josefina vein trend consists of two principal southwest-trending subparallel veins with an interpreted strike extent of approximately 1.5 km. The eight holes in this release were successful in confirming continuity of bonanza grade mineralization along the central and northeast parts of the vein trend. Drilling has confirmed the depth continuity of veins at Josefina to approximately 370 m below surface. The vein trend is open at depth below this and along strike in both directions.

 

The veins along the Josefina trend dip steeply to the northwest and mineralization typically consists of semi-massive pyrite, galena and sphalerite. Further drilling is still required to accurately estimate the true width of the veins. Drill hole locations and current vein interpretations are shown in Figure 1 (see links below) and detailed drill highlights of the holes from this release at Josefina 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)
C20-379 91.1 91.4 0.4 713 0.18 5.0 8.4 1,253
and 99.1 99.8 0.7 304 0.15 4.5 15.6 1,122
and 171.9 172.2 0.3 1,010 0.27 5.7 9.3 1,620
                 
C20-381 95.6 96.9 1.3 1,581 0.15 9.9 5.4 2,166
including 95.9 96.4 0.5 3,750 0.26 23.3 11.5 5,067
                 
C20-382 34.0 42.9 8.9 267 0.91 0.9 0.8 410
including 41.2 42.2 1.0 1,280 4.24 1.6 3.4 1,826
                 
C20-386 141.3 164.0 22.7 35 0.04 0.5 1.3 111
and 197.9 199.6 1.7 333 0.41 3.3 6.2 741
and 215.9 218.5 2.7 416 0.21 5.8 6.3 899
                 
C20-392 36.2 39.2 3.1 58 0.10 1.9 6.9 419
including 36.6 37.4 0.8 98 0.33 2.8 16.4 904
                 
C20-394 179.8 180.8 1.1 135 0.61 3.3 6.9 588
                 
C20-395 410.7 420.7 10.0 92 0.09 2.4 3.4 324
and 410.7 414.7 3.9 110 0.05 2.7 4.4 392
                 
C20-396 84.2 84.6 0.4 572 0.13 7.4 11.2 1,306
and 136.7 138.0 1.3 1,607 2.06 5.2 8.0 2,290
including 136.7 137.1 0.4 3,930 5.89 8.8 14.6 5,327

¹For full supporting technical disclosure please refer to footnote 1 under the table of Additional Veins results.

 

TODOS SANTOS VEIN:

 

The Todos Santos vein trend, consisting of the Main Vein and Footwall Vein, has an interpreted southwest strike extent of at least 1.5 km and depth extent of at least 300 m based on historic underground workings and drilling. In total 20 holes have been drilled at Todos Santos; 9 historic holes and 11 holes drilled by Discovery (including four holes in this release). All 20 holes intercepted the Main Vein returning an average drilled width of 2.6m grading 635 g/t AgEq¹. Holes C20-385 (4.0 m averaging 763 g/t AgEq¹) and C20-387 (3.2 m averaging 576 g/t AgEq¹) in this release extended the drill-confirmed strike extent of the Main Vein by approximately 50 m to the southwest. The Todos Santos vein trend is open along strike in both directions and at depth.

 

High-grade mineralization in both the Main Vein and Footwall Vein is typically associated with quartz-carbonate veins that dip steeply to the northwest. Mineralization typically consists of galena, sphalerite and pyrite. Further drilling is still required to accurately estimate the true width of the veins at Todos Santos. Drill hole locations and current vein interpretations are shown in Figure 1 (see links below) and detailed drill highlights of the holes drilled at Todos Santos from 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)
C20-385 132.9 136.8 4.0 377 0.28 7.1 2.7 763
including 135.4 136.8 1.4 552 0.33 11.0 3.4 1,107
                 
C20-387 184.5 187.7 3.2 175 0.48 3.3 5.9 576
and 186.5 187.7 1.2 241 0.52 4.6 10.4 875
                 
C20-391 116.2 117.7 1.5 274 0.05 4.4 2.8 551
                 
C20-397 166.3 169.1 2.8 207 0.15 3.7 7.7 670

¹For full supporting technical disclosure please refer to footnote 1 under the table of Additional Veins results.

 

ADDITIONAL VEINS:

 

C20-383, drilled to the northwest of Josefina and in the middle of the South Corridor intercepted a previously unidentified breccia-fault near-surface that reported 1.7 m averaging 2,242 g/t AgEq¹. C20-389, drilled in the North Corridor to the southwest of Todos Santos, intercepted two previously unknown veins at depth. The veins reported 2.4 m averaging 463 g/t AgEq¹ and 0.8 m averaging 941 g/t AgEq¹. Evaluation of these new veins including follow-up drill targeting is ongoing. Further drill highlights from these two holes 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)
C20-383 44.4 47.2 2.9 992 0.73 12.9 2.4 1,605
including 44.4 46.1 1.7 1,375 1.04 19.4 2.4 2,242
and 83.4 84.1 0.7 1,865 0.85 7.0 7.9 2,510
and 138.0 163.5 25.5 28 0.06 0.4 0.6 72
                 
C20-389 362.7 365.2 2.4 120 0.51 3.3 4.5 463
and 367.9 368.7 0.8 416 0.10 8.8 5.0 941

 

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. Intervals with stockwork mineralization were chosen based on a 25 g/t AgEq cutoff with no more than 10 m of dilution. Intervals with vein mineralization were based on a 100 g/t AgEq cutoff with no more than 1 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 $16.50/oz Ag, $1,350/oz Au, $0.85/lb Pb, $1.00/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 2018 PEA completed on Cordero.

 

PHASE 1 DRILL PROGRAM UPDATE:

 

The Company has completed 58,600 m (148 holes) as part of its expanded 65,000 m Phase 1 drill program. Assays from 24 holes are pending. There are currently four drill rigs operating on site. Additional drill rigs may be added when the Company is confident that the health and safety risks related to COVID-19 can be managed effectively.

 

Drilling is focused on two key concepts: (1) targeting of bulk-tonnage mineralization within and to the east and northeast of both mineralized corridors; and (2) systematic testing of the width, grade and continuity of extensive high-grade vein systems that transect the deposit. Our immediate focus is on drilling bulk-tonnage targets for inclusion in the updated resource estimate in 3Q 2021 and PEA in 4Q 2021.

 

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

https://dsvmetals.com/site/assets/files/5645/20210315_dsv_sa.pdf

 

A PDF of this release with supporting maps and sections included as appendices can be found at the following link:

https://dsvmetals.com/site/assets/files/5645/20210315_dsv_nr.pdf

 

About Discovery

 

Discovery’s flagship project is its 100%-owned Cordero project, one of the few silver projects globally that offers margin, size and scaleability. The project is located in a prolific mining belt in Chihuahua State, Mexico, and is supported by an industry leading balance sheet with over C$95 million of cash allocated for aggressive exploration, resource expansion and future development. Discovery was a recipient of the 2020 TSX Venture 50 award and the 2021 OTCQX Best 50 award.

 

Posted March 15, 2021

Share this news article

MORE or "UNCATEGORIZED"


Kirkland Lake Gold Reports Solid Production in First Quarter 2021

Kirkland Lake Gold Ltd. (TSX:KL) (NYSE:KL) (ASX:KLA) announced pr... READ MORE

April 9, 2021

Ascot Resources Ltd. Announces Closing of C$61,000,000 Bought Deal Financing

Ascot Resources Ltd. (TSX: AOT) (OTCQX: AOTVF) is pleased to ann... READ MORE

April 9, 2021

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Rio Tinto has entered into a binding Heads of Agreement with Turq... READ MORE

April 9, 2021

Frontier Lithium Announces Acquisition of the 2.5% Net Smelter Royalty on the PAK Lithium Project

Frontier Lithium Inc. (TSX-V: FL) (OTCQX: LITOF) (FSE: HL2) annou... READ MORE

April 9, 2021

Uranium Energy Corp Completes Financing and Reports Over $110 Million in Cash, Equity and Inventory Holdings as of April 9, 2021

Uranium Energy Corp (NYSE: UEC) is pleased to announce the closin... READ MORE

April 9, 2021

Copyright 2021 The Prospector News