Discovery-Corp Clarifies Disclosures at BCSC Request
Vancouver, British Columbia CANADA, September 27, 2013 /FSC/ - Discovery-Corp Enterprises Inc. (DCY - TSX Venture), As a result of a review by the British Columbia Securities Commission, Discovery-Corp Enterprises Inc. (the "Company") is issuing the following news release to clarify its disclosure as required by National Instrument 43-101.
The Company is withdrawing all statements regarding mineral resources, pit outlines, project economics and infrastructure plans from the September 10th news release. The Company cautions investors not to rely on the September 10th news release as indicating there is a mineral resource or economic studies on the Galaxy Project.
The Company does not have a mineral resource on the Galaxy Project. The Company also advises that a preliminary economic assessment has not been undertaken on the Galaxy Project as there is no mineral resource to base the study on. The Galaxy Project is at the exploration stage. The Company will be filing a NI 43-101 compliant technical report to support the statement that it does not have a mineral resource on its Galaxy Project.
Metallurgical Test Work Clarification
Material details of the test work of the metallurgical results disclosed in the September 10th news release are provided below:
A total of 107 samples weighing 203 kilograms of minus 10 mesh assay reject material (taken from the 2012 Galaxy drill core) were received at ALS Metallurgy in Kamloops, BC. The principle objectives of the test work were defined by Iain Brown, CFO of Discovery-Corp.
A sub sample was taken from head analysis and indicated a grade of 0.51% Cu, 0.14 g/t Au and 1 g/t Ag. Most of the copper was reported to be contained in chalcopyrite with trace amounts of tennantite/tetrahedrite, bornite, chalcocite, and covellite. Pyrite was the other major sulphide mineral and measured about 0.8 percent
Initial testing indicated that utilizing PAX resulted in poor final copper concentrate grades and a regrind size of finer than 26 micrometre K80 was required to produce high copper grade concentrates at high copper recovery.
The selected copper flotation conditions were employed for the locked cycle test. In the locked cycle test, 81% of the copper, 59% of the gold and 40% of the silver was recovered into a concentrate grading 26% copper, 4.7 g/t Au and 45 g/t Ag. Additional test work was recommended to optimize the recovery.
Use and Identification of Qualified Person
The technical information in this news release was approved by Christopher Naas, P.Geo, a qualified person as defined by NI 43-101 and is not independent of Discovery-Corp. In the September 10th news release, the Company did not utilize a Qualified Person to approve the technical information disclosed contrary to section 3.1 of NI 43-101. The Company will ensure that it utilizes and identifies a Qualified Person in technical disclosure going forward.
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On Behalf of the Board of Directors
"Alex Pannu", President
Discovery-Corp Enterprises Inc.
apannu@discovery-corp.com
This release has been prepared by Management - The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements.
1108 -193 Aquarius Mews
Vancouver, British Columbia, CANADA
V6Z 2Z2
Tel. 778 371 9936
www.discovery-corp.com
To view this press release as a PDF, please click on the following link:
http://www.usetdas.com/pr/discoverycorp09272013.pdf
Source: Discovery-Corp Enterprises Inc.(TSX-V: DCY)
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