TORONTO, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX-V: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) is pleased to announce results from 23 holes from its Phase 2 drill program on its flagship Cordero silver project (“Cordero” or “the Project”) located in Chihuahua State, Mexico. This current set of results is focused on upgrading resources for the Pre-Feasibility Study (“PFS”) planned for later this year.
Highlight intercepts include:
- 49.9 m averaging 247 g/t AgEq1 from 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 AgEq1 from 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 AgEq1 from 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 AgEq1 from 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 C21-555, drilled in the northeast of the corridor, intercepted 113.6 m of 101 g/t AgEq1 from 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 AgEq1 (C21-533), 56.4 m of 105 g/t AgEq1 from 188.5 m (C21-539), 26.2 m of 114 g/t AgEq1 from 105.6 m (C21-520) and 29.7m of 112 g/t AgEq1 from 111.4 m (C21-526).
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
A PDF of this release with supporting maps and sections included as appendices can be found at the following link:
https://discoverysilver.com/site/assets/files/5849/20220210_dsv_nr.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.
www.discoverysilver.com
https://www.globenewswire.com/news-release/2022/02/10/2382721/0/en/Discovery-Intersects-247-g-t-AgEq-over-50-m-in-Phase-2-Drilling-at-Cordero.html