Highlights
Discovery Metals Corp. (TSX-V: DSV) (“Discovery”
or the “Company”) is pleased to announce results from its detailed
underground channel sampling program at the Puerto Rico Mine
(“PRM”), one of three historic mines comprising its flagship Puerto
Rico project (“Puerto Rico” or “the Project”) in northern Coahuila
State, Mexico.
Taj Singh, P.Eng, President and CEO, states,
“Puerto Rico is advancing quickly and systematically, with all
three historic mines now completely mapped and sampled. These
current results prove that robust, high-grade mineralization
remains in all three historic mines. The distribution of
mineralization in all of the historic mines, combined with the
structural characteristics identified in our mapping and modeling
work, demonstrate the continuity and significant potential of
mineralization at the Project. We have gained invaluable insight
into the overall system which will aid us in vectoring towards more
mineralization and possibly the source. The results of the
upcoming airborne mag and EM survey, scheduled for October, will
provide the final inputs required for the placement of drill holes
for the Project’s maiden drill program. The drill permitting
process at Puerto Rico is almost complete and we estimate the
receipt of permits within the next one to two months.”
Results & DiscussionThe PRM
hosts approximately 650m of underground drifts and stopes over
three levels that span a vertical extent of 60m and cover a
horizontal extent of approximately 200m (strike) by 30m (width) in
a northwesterly direction. The underground workings (from bottom to
top: Haulage, Stairs, and Upper Levels) are host to strongly
mineralized Ag-Pb-Zn mantos and chimneys. Several mantos are well
exposed in the underground workings, where they follow bedding in
flat-lying to gently folded strata, and locally step across
limestone beds. The mineralized vertical faults and fracture zones
and are considered chimneys and extend between mine levels.
A total of 206 channel samples were collected at
approximately 5m intervals along both sides of the entire length of
the developed workings (across mineralization and wallrock).
Sampling methodology is outlined in detail in the Technical Notes
section of this news release. Sampling locations and thicknesses
were somewhat constrained by the extent of historic workings.
The table below summarizes the significant
results by level and mineralization type:
PRM Level & Mineralization
Type |
# of
channelsamples |
Average thickness (m) |
Average grades
(thickness-weighted) |
Ag g/t |
Pb% |
Zn% |
ZnEq%1 |
AgEq%1 |
|
|
|
|
|
|
|
|
Upper Level |
|
|
|
|
|
|
|
Manto 10 |
5 |
0.8 |
18 |
1.1 |
19.3 |
20.5 |
1,169 |
Manto 11 |
4 |
1.6 |
29 |
1.2 |
23.8 |
25.3 |
1,442 |
Manto 12 |
5 |
1.4 |
116 |
6.1 |
22.5 |
29.5 |
1,680 |
NE1 Chimney |
1 |
1.0 |
61 |
3.7 |
22.1 |
26.1 |
1,491 |
NE2 Chimney |
4 |
1.4 |
60 |
7.7 |
27.6 |
34.8 |
1,985 |
NE5 Chimney |
3 |
2.1 |
57 |
5.1 |
24.7 |
29.8 |
1,698 |
NE10 Chimney |
2 |
0.6 |
484 |
22.7 |
22.1 |
48.8 |
2,783 |
NE11 Chimney |
1 |
0.5 |
701 |
43.5 |
5.9 |
53.1 |
3,027 |
Wallrock |
9 |
1.5 |
65 |
3.6 |
18.1 |
22.1 |
1,263 |
Stairs Level |
|
|
|
|
|
|
|
Manto 7 |
25 |
1.8 |
101 |
9.5 |
20.0 |
29.4 |
1,676 |
Manto 8 |
5 |
1.1 |
253 |
10.8 |
11.7 |
24.8 |
1,415 |
Manto 9 |
5 |
2.1 |
39 |
3.5 |
10.8 |
14.3 |
815 |
NW1 Chimney |
2 |
0.8 |
279 |
27.0 |
26.5 |
53.1 |
3,026 |
NW2 Chimney |
1 |
0.4 |
123 |
9.2 |
17.6 |
27.2 |
1,549 |
NW3 Chimney |
2 |
2.2 |
8 |
1.0 |
13.4 |
14.3 |
817 |
NE17 Chimney |
1 |
0.9 |
2 |
0.6 |
36.5 |
37.0 |
2,112 |
Wallrock |
44 |
1.2 |
53 |
3.1 |
4.9 |
8.3 |
474 |
Haulage Level |
|
|
|
|
|
|
|
Manto 1 |
5 |
1.5 |
32 |
1.0 |
6.4 |
7.8 |
442 |
Manto 2 |
10 |
1.7 |
12 |
0.3 |
1.6 |
2.0 |
117 |
Manto 3 |
14 |
1.3 |
95 |
2.1 |
11.8 |
15.2 |
865 |
Wallrock |
56 |
1.4 |
8 |
0.2 |
0.8 |
1.1 |
63 |
Host Structure
Descriptions:
Northeast-Striking Chimneys:In
the Upper Level and the northwest portion of the Stairs Level, five
major chimneys were mapped and sampled, striking 250 to 260
degrees, dipping 65 to 80 degrees to the north-northwest, and with
thicknesses ranging from 0.5 to 2.1m. The chimneys are host to
abundant galena and hemimorphite, returning average grades of 26.1
to 53.1% ZnEq. These chimneys are interpreted to be
mineralizing feeders to the mantos that occur on the same levels.
On the Haulage Level, narrow, vertical veinlets of galena were
noted in the limestone, but access did not permit sampling. On the
central part of the Stairs Level, the chimneys are spaced
approximately 5m apart, and in the centre of the Upper Level they
are 2m apart. The chimneys in the Upper Level project to those on
the Stairs Level below and are likely the same features.
Northwest-Striking
Chimneys:Mapping on the Stairs Level has identified three
chimneys that strike 115 degrees azimuth and dip 80 degrees to the
southwest. The average thickness of these chimneys ranges from 0.4
to 2.2m, with average grades of 14.3 to 37.0% ZnEq. The parallel
NW1 and NW2 structures are host to abundant galena, and the zinc
oxides hemimorphite and smithsonite. The subparallel NW3 structure
is host to dominantly smithsonite and relatively less galena,
suggesting a supergene origin of this mineralization. The NW1 and
NW2 structures are axial planar to an anticline and are also
interpreted to be feeder zones to the adjacent mantos mapped on the
Stairs Level.
Haulage Level Mantos (lowest
elevation):Three mantos (Manto 1-3) have been mapped on
this level approximately 8m apart vertically. These mantos are
parallel to bedding within a synclinal drag fold and strike
generally 310 to 320 degrees azimuth and dip 10 to 30 degrees to
the northeast. Manto 1 and Manto 2 average thicknesses are
1.5m and 1.7m thick respectively, while the Manto 3 average
thickness is 1.3m and can be traced for 60m laterally.
Mineralization consists of dominantly hemimorphite and smithsonite,
with lesser galena. Average grades for Mantos 1-3 range from 7.8 to
15.2% ZnEq. In the raise between the Haulage Level and Stairs
Level, Mantos 4 and 5 can be observed but access does not permit
any detailed observations or sampling.
Stairs Level Mantos:Four mantos
have been mapped (Manto 6 through Manto 9) that generally strike
345 degrees azimuth and dip 25 degrees to the northeast.
These mantos are similar to those on the Haulage level and are also
located within a synclinal drag fold. Mantos 7 and 8 average
mineralized thicknesses are 1.8m and 1.1m respectively and are
exposed for 80m along strike and Manto 7 is traceable down dip
along a cross cut for 20m. Manto 9 average mineralized
thickness was 2.1m and is only exposed over 2m in a small embayment
of the underground workings. The average grades of Mantos 7-9
range from 14.3% to 29.4% ZnEq. Manto 6 is located in the back of
the Stairs Level workings and has been mapped as a 0.5m thick
horizon but is not accessible for detailed observations or
sampling. All the mantos contain abundant hemimorphite, smithsonite
and lesser galena, with moderate amounts of manganese oxide.
Upper Level Mantos:Four mantos
(Manto 10 to Manto 13) have been identified on the Upper Level that
strike 320 degrees azimuth and vary in dip from 50 degrees to 68
degrees to the northeast. The steeper-dipping mantos are on
the steep limb of the drag fold mapped on this level. Manto
average thicknesses vary from 0.8m to 1.6m and mineralization is
similar to that on the other two levels with abundant hemimorphite
and smithsonite and lesser galena. Manto 10 can be mapped
continuously for 30m in the stopes, Manto 11 and 12 for just over
70m, and Manto 13 over 80m along the workings. The average grades
of the sampled mantos on this level ranges from 20.5 to 29.5%
ZnEq.
A full table of results and maps related to this
news release can be found
at:https://dsvmetals.com/site/assets/files/PRM-Sept2018-FINAL_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: Gernot Wober, P.Geo, Vice-President of
Exploration of 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.
REFERENCES
1All numbers in this news release are rounded
and assays are uncut and undilute. ZnEq and AgEq calculations are
based on USD $15/oz Ag, $1.25/lb Zn, $1.00/lb Pb, $3.00/lb Cu and
do not consider metallurgical recovery.
2For a full table of results, maps and graphics related to this
news release, please refer to:
https://dsvmetals.com/site/assets/files/PRM-Sept2018-FINAL_APPENDIX.pdf
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.
On Behalf of the Board of Directors“Taj Singh”
Taj Singh, M.Eng, P.Eng, CPA President, Chief
Executive Officer, and Director
For further information contact: Discovery Metals Corp.#701 - 55
University AveToronto, ON Canada M5J 2H7info@dsvmetals.com
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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