VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 6, 2015) - Discovery Ventures Inc. (TSX VENTURE:DVN)(FRANKFURT:0DV)(OTCQX:DTVMF) ("Discovery") is pleased to announce that the company has made formal application with the Ministry of Mines for a 10,000 tonne bulk mine permit on Willa Mine project.
The 10,000 tonne bulk sample is recovered under a usual Notice of Work, which entails identifying all works that are proposed, along with detailed plans of the operation, including a Mine Emergency Response Plan (which covers all safety aspects and plans in case of accidents). In addition, a Metal Leaching and Acid Rock Drainage Prediction and Prevention Plan is required. These plans have been initiated by the company.
The permit allows for trenching, blasting, drilling, underground exploration and a 10,000 tonne bulk sample, subject to certain terms and conditions. The 2015 portion of the work will commence in the near future and will include re-opening underground portals for exploration, mine planning and engineering; and rehabilitation of access roads.
The proposed mining method at Willa mining project will utilize long-hole stoping and shrinkage stoping. It is estimated that the majority of the economically-exploitable Mineral Resources will be amenable to long‐hole mining methods, with minimum stoping widths of five metres and maximum widths in some stoping blocks exceeding thirty metres. Shrinkage stoping methods will be applied in cases where the mineral width is less than five metres, but where the grade is sufficiently high to warrant the expected higher unit development and stoping costs. Additional drilling will be conducted during both development and production phases to better define additional mineral blocks.
Once the Notice of Work has been submitted to the Inspector of Mines and has been approved-in-principle, it will be distributed to all parties that may have concerns (i.e. First Nations, Ministry of Environment, Ministry of Transport, Ministry of Forests). All parties then have thirty working days within which to state any concerns they may have (the Thirty Day Referral Period). The Mines Inspector will then pass these concerns on to the applicant, who will then ensure that all concerns are dealt with. Most often, the Mines Inspector will include these as conditions of the Approved Permit. The Notice of Work process will take about sixty working days if no major concerns are identified during the referral process.
Following, or even during the 10,000 tonne bulk sampling, the Company intends to apply for a Small Mines Permit to remove up to 75,000 tonnes per year. This can be done under a Notice of Work to the Mines Inspector. In addition, the Company will apply to have the Mineral Claim converted to a Mineral Lease, which is done by application to the Provincial Government.
Akash Patel, Discovery's current President and CEO stated, "Financing has reinforced Discovery's confidence in our WillaMax project. We are excited to be moving ahead with our business model as planned."
Wayne M. Ash, P. Eng., a Qualified Person under NI 43-101 who has an arm's length relationship with the Discovery, has read and approved the scientific and technical disclosure in this news release, and consents to the public filing of this news release.
If you would like to be added to Discovery's news distribution list, please send your email address to info@discoveryventuresinc.com or visit our website located at www.discoveryventuresinc.com.
Akash Patel, President and Director
Discovery Ventures Inc.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Discovery, such as the appointment of the Investor as a director and President and Chief Executive Officer of Discovery and the use of proceeds from the Credit Facilities. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the mineral exploration industry in general; (iii) the ability of Discovery to draw down on the Credit Facilities (iv) the inability of Discovery to enter into a definitive agreement with the Investor; or (v) the TSX Venture Exchange not approving the Credit Facilities. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Discovery does not intend to update these forward-looking statements.