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DISCOVERY-CORP UNVEILS 3-D MODEL OF GALAXY DEPOSIT
Discovery-Corp Enterprises Inc. has unveiled a 3-D model of its copper-gold deposit on its wholly-owned Galaxy property, located in the Afton camp in Kamloops, B.C. The 3-D model shows there is potential for additional mineralization on strike to the southeast and northwest. There is also potential to discover the offset root of the Galaxy deposit in the footwall of the thrust fault that truncates the mineralization at depth. The 3-D model is available for viewing at the company's website.
Discovery-Corp has obtained the digital database for previous drilling, as well as some original drill logs. Historical resource estimates range from 1.7 million to 3.2 million tonnes. The most recent is a 1996 estimate of 1.7 million tonnes grading 0.39 per cent copper and 0.13 gram per tonne gold with a higher-grade resource of 862,000 tonnes grading 0.65 per cent copper and 0.22 gram per tonne gold. Historical resource estimates of the Galaxy property are not NI 43-101 compliant. Values of 3.52 grams per tonne gold and 7.57 per cent copper over 6.09 metres were reported in 1990 reverse circulation drilling.
Discovery-Corp drilled three diamond drill holes in the Galaxy zone in 2006, which returned NI 43-101-compliant results as shown in the attached table (previously released in a Stockwatch news release dated Oct. 16, 2006).
From To Interval Cu AuDrill hole (m) (m) (m) (%) (g/t)GX06-1 23.47 35.94 12.47 0.72 0.46incl. 24.08 26.12 2.04 2.77 1.47GX06-2 35.35 41.43 6.08 0.83 0.23GX06-3 78.02 84.10 6.08 0.49 0.17
CME Consultants Inc. of Richmond, B.C., prepared the data compilation and modelling of the Galaxy deposit, which has a strike length of 600 metres and a maximum depth of 140 metres. Using the data compilation and modelling of the Galaxy deposit, Discovery-Corp intends to undertake a drill program on Galaxy in 2011 in accordance with CME's recommendations.
CME recommends a 2,000-metre diamond drill program to test the strike and depth potential, in addition to verifying and infilling historical zones. This will increase the size of the current deposit and will assist in moving the deposit toward a NI 43-101-compliant resource. The estimated cost of the program is $400,000. To accomplish this Discovery-Corp plans to arrange a financing to finance the exploration program and for working capital. Discovery-Corp is planning to commence further exploration of its wholly owned Galaxy property this summer.