Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF)
(“Discovery” or the “Company”) is pleased to announce results from
Feasibility Study drill holes on its flagship Cordero silver
project (“Cordero” or “the Project”) located in Chihuahua State,
Mexico. These holes consist of reserve expansion drilling and will
be incorporated in a Feasibility Study in conjunction with a
resource update planned for the first half of 2024.
Highlight intercepts from this current set of
drill holes include:
-
41 m averaging 197 g/t AgEq1 (63
g/t Ag, 0.09 g/t Au, 1.2% Pb and 2.7% Zn) from 386 m and 8
m averaging 416 g/t AgEq1 (195 g/t Ag, 0.23 g/t Au, 2.2%
Pb and 4.1% Zn) from 79 m in the core of the South Corridor in hole
C22-688.
-
37 m averaging 139 g/t AgEq1 (58 g/t Ag, 0.05 g/t
Au, 0.8% Pb and 1.5% Zn) from 236 m and 104 m averaging 86
g/t AgEq1 (37 g/t Ag, 0.04 g/t Au, 0.3% Pb and 1.1% Zn)
from 91 m in hole C22-705; these intervals were in the southern
portion of the South Corridor within the reserves pit.
-
51 m averaging 105 g/t AgEq1 (51 g/t Ag, 0.06 g/t
Au, 0.7% Pb and 0.9% Zn) from 63 m in hole C22-697 in the southern
portion of the South Corridor.
Tony Makuch, CEO, states: “Our Feasibility Study
drilling continues to demonstrate the potential to grow reserves at
Cordero whilst building further confidence in the underlying
resource model. This drill program is nearing completion upon which
drilling will then focus on testing multiple highly prospective
targets identified by our extensive field programs that have been
ongoing since 2021.
“Meanwhile, we continue to make excellent
progress on our environmental impact assessment (‘Manifesto de
Impacto Ambiental’ or ‘MIA’) which we plan to submit to the Mexican
Federal Environmental Department (SEMARNAT) later this quarter. The
MIA is one of the principal permits required for the development of
Cordero. We have completed an initial review of the new mining law
in Mexico and while we are awaiting further clarification on
certain amendments, we do not expect the new mining law will have a
material impact on the Project timeline. It is our intention to
adhere to all Mexican regulatory requirements alongside our
overarching corporate objective of delivering the highest industry
standards for environmental protection, social responsibility and
health and safety.”
DRILL RESULTS:
This current set of Feasibility Study drilling
consists of 23 drill holes and was focused on two key areas: 1)
reserve upgrade and expansion drilling in the South Corridor and 2)
reserve expansion drilling on the margins of the Pozo de Plata zone
in the North Corridor. Supporting maps and sections, drill hole
locations and full assay results can be found here: Plan map,
sections & assays. A PDF of this release with supporting maps
and sections included as appendices can be found here: Press
release with plan map & section.
Drilling in the South Corridor continues to
demonstrate the potential to improve grade and convert waste to ore
within the reserves pit. C22-705 returned 36.7 m of 139 g/t AgEq1
from 236.3 m toward the bottom of the reserves pit in an area
previously modelled as low grade and waste. This hole also
intercepted 103.6 m of 86 g/t AgEq1 from 91.2 m improving the
confidence of a broad higher-grade zone near surface. On this same
section, hole C22-688 returned 40.6 m of 197 g/t AgEq1 from 386.4 m
and 37.5 m of 78 g/t AgEq from 282.1 m. Both intercepts have the
potential to expand the volume of higher-grade blocks modelled
toward the bottom of the reserves pit. C22-698 intercepted 78.3 m
of 97 g/t AgEq1 from 103.5 m, potentially extending the depth of
higher-grade blocks within the reserves pit.
Drilling in the North Corridor consisted of
shallow holes targeting the expansion of reserves on the northwest
margins of the Pozo de Plata zone. Drilling confirmed that the
tenor of mineralization at Pozo de Plata diminishes to the
northwest, consistent with the underlying block model estimation in
this area.
Detailed drill highlights from this set of
Feasibility Study drill holes are provided in the table below:
Hole ID |
From (m) |
To (m) |
Width (m) |
Ag (g/t) |
Au (g/t) |
Pb (%) |
Zn (%) |
AgEq1 (g/t) |
C22-688 |
78.7 |
86.5 |
7.8 |
195 |
0.23 |
2.2 |
4.1 |
416 |
and |
282.1 |
319.6 |
37.5 |
49 |
0.06 |
0.6 |
0.3 |
78 |
and |
386.4 |
427.0 |
40.6 |
63 |
0.09 |
1.2 |
2.7 |
197 |
|
|
|
|
|
|
|
|
|
C22-689 |
15.0 |
35.7 |
20.7 |
55 |
0.05 |
0.6 |
0.2 |
81 |
and |
103.6 |
163.0 |
59.5 |
35 |
0.07 |
0.3 |
1.4 |
97 |
|
|
|
|
|
|
|
|
|
C22-691 |
39.8 |
79.8 |
40.1 |
10 |
0.02 |
0.1 |
1.6 |
73 |
and |
115.2 |
129.7 |
14.5 |
27 |
0.09 |
0.4 |
1.5 |
94 |
and |
404.3 |
428.3 |
24.0 |
58 |
0.12 |
0.7 |
2.6 |
176 |
|
|
|
|
|
|
|
|
|
C22-694 |
182.8 |
218.1 |
35.4 |
52 |
0.07 |
0.7 |
1.7 |
136 |
|
|
|
|
|
|
|
|
|
C22-695 |
23.7 |
94.3 |
70.6 |
35 |
0.03 |
0.3 |
0.9 |
78 |
and |
116.5 |
130.8 |
14.4 |
200 |
0.12 |
1.5 |
3.1 |
360 |
|
|
|
|
|
|
|
|
|
C22-696 |
22.9 |
44.0 |
21.1 |
93 |
0.05 |
1.0 |
0.2 |
132 |
and |
75.5 |
93.3 |
17.8 |
130 |
0.09 |
1.0 |
2.3 |
246 |
|
|
|
|
|
|
|
|
|
C22-697 |
63.1 |
114.5 |
51.4 |
51 |
0.06 |
0.7 |
0.9 |
105 |
|
|
|
|
|
|
|
|
|
C22-698 |
103.5 |
181.8 |
78.3 |
32 |
0.05 |
0.4 |
1.4 |
97 |
|
|
|
|
|
|
|
|
|
C22-701 |
114.1 |
178.5 |
64.4 |
27 |
0.07 |
0.2 |
1.2 |
77 |
and |
188.2 |
207.2 |
19.0 |
27 |
0.02 |
0.2 |
2.0 |
107 |
|
|
|
|
|
|
|
|
|
C22-705 |
22.3 |
74.7 |
52.4 |
35 |
0.06 |
0.3 |
0.4 |
59 |
and |
91.2 |
194.8 |
103.6 |
37 |
0.04 |
0.3 |
1.1 |
86 |
and |
236.3 |
273.0 |
36.7 |
58 |
0.05 |
0.8 |
1.5 |
139 |
1All results in this news release are rounded.
Assays are uncut and undiluted. Widths are drilled widths, not true
widths, as a full interpretation of the actual orientation of
mineralization is not complete. As a guideline, intervals with
disseminated mineralization were chosen based on a 25 g/t AgEq
cutoff with no more than 10 m of dilution. AgEq calculations are
used as the basis for reporting metal content calculations given Ag
is the dominant metal constituent as a percentage of AgEq value in
approximately 70% of the Company’s mineralized intercepts. AgEq is
calculated as Ag(g/t) + 18.39 x Au(g/t) + 30.81 x Pb(%) + 36.54(%).
This calculation is based on metal prices of USD $22.00/oz Ag,
$1,600/oz Au, $1.00/lb Pb, $1.20/lb Zn and life-of-mine average
recovery assumptions from the 2023 Pre-Feasibility Study of 87% for
Ag, 22% for Au, 86% for Pb and 85% for Zn.
DRILL PROGRAM UPDATE:
The Company has now completed 49,700 m (156
holes) as part of its Feasibility Study drill program (since the
data cut-off for the PFS study). Feasibility study drilling
consists of resource upgrade drilling, drilling targeting the
expansion of the PFS open pit, engineering drilling and
condemnation drilling.
Condemnation drilling is expected to wrap up in
June upon which the property-wide drill program will commence. This
program will initially target large chargeability anomalies in the
Sanson area (approximately 3.5 km to the northeast of Cordero) and
resource expansion targets to the northeast of the deposit.
Currently, 9,000m of drilling is planned for property wide drilling
in 2023. This program may be expanded depending on the
results of the initial drilling.
About Discovery
Discovery’s flagship project is its 100%-owned
Cordero project, one of the world’s largest silver deposits. The
PFS published in February 2023 demonstrates that Cordero has the
potential to be developed into a highly capital-efficient mine that
offers the combination of margin, size, and scalability. Cordero is
located close to infrastructure in a prolific mining belt in
Chihuahua State, Mexico.
On Behalf of the Board of Directors,Tony
Makuch, P.EngCEO & Director
For further information contact:
Forbes Gemmell, CFAVP Corporate
DevelopmentPhone: 416-613-9410Email:
forbes.gemmell@discoverysilver.comWebsite:
www.discoverysilver.com
Sample analysis and QA/QC ProgramAssays are
uncut except where indicated. All core assays are from HQ drill
core unless stated otherwise. Drill core is logged and sampled in a
secure core storage facility located at the project site 40km north
of the city of Parral. Core samples from the program are cut in
half, using a diamond cutting saw, and are sent to ALS
Geochemistry-Mexico for preparation in Chihuahua City, Mexico, and
subsequently pulps are sent to ALS Vancouver, Canada, which is an
accredited mineral analysis laboratory, for analysis. All samples
are prepared using a method whereby the entire sample is crushed to
70% passing -2mm, a split of 250g is taken and pulverized to better
than 85% passing 75 microns. Samples are analyzed for gold using
standard Fire Assay-AAS techniques (Au-AA24) from a 50g pulp. Over
limits are analyzed by fire assay and gravimetric finish. Samples
are also analyzed using 33 element inductively coupled plasma
method (“ME-ICP61”). Over limit sample values are re-assayed for:
(1) values of zinc > 1%; (2) values of lead > 1%; and (3)
values of silver > 100 g/t. Samples are re-assayed using the
ME-OG62 (high-grade material ICP-AES) analytical package. For
values of silver greater than 1,500 g/t, samples are re-assayed
using the Ag-CON01 analytical method, a standard 30 g fire assay
with gravimetric finish. Certified standards and blanks are
routinely inserted into all sample shipments to ensure integrity of
the assay process. Selected samples are chosen for duplicate assay
from the coarse reject and pulps of the original sample. No QAQC
issues were noted with the results reported herein.
Qualified
Person
Gernot Wober, P.Geo, VP Exploration, Discovery
Silver 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.
The most recent technical report for the Cordero
Project is the 2023 Preliminary Feasibility Study for the Company’s
Cordero project. The report was completed by Ausenco with support
from AGP Mining Consultants Inc., Knight Piésold Ltd. and Hard Rock
Consulting and is available on Discovery’s website and on SEDAR
under Discovery Silver Corp.
FORWARD-LOOKING STATEMENTS:
Neither TSX Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This news release is not for distribution to United States
newswire services or for dissemination in the United States.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of any of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful, including any of the
securities in the United States of America. The securities have not
been and will not be registered under the United States Securities
Act of 1933, as amended (the “1933 Act”) or any state securities
laws and may not be offered or sold within the United States or to,
or for account or benefit of, U.S. Persons (as defined in
Regulation S under the 1933 Act) unless registered under the 1933
Act and applicable state securities laws, or an exemption from such
registration requirements is available.
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
Discovery 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. Statements regarding the results of
the pre-feasibility study and the anticipated capital and operating
costs, sustaining costs, net present value, internal rate of
return, payback period, process capacity, average annual metal
production, average process recoveries, concession renewal,
permitting of the Project, anticipated mining and processing
methods, proposed pre-feasibility study production schedule and
metal production profile, anticipated construction period,
anticipated mine life, expected recoveries and grades, anticipated
production rates, infrastructure, social and environmental impact
studies, availability of labour, tax rates and commodity prices
that would support development of the Project. Information
concerning mineral resource/reserve estimates and the economic
analysis thereof contained in the results of the pre-feasibility
study are also forward-looking statements in that they reflect a
prediction of the mineralization that would be encountered, and the
results of mining, if a mineral deposit were developed and mined.
Forward-looking statements are statements that are not historical
facts which address events, results, outcomes or developments that
the Company expects to occur. Forward-looking statements are based
on the beliefs, estimates and opinions of the Company’s management
on the date the statements are made and they involve a number of
risks and uncertainties. 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, 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. Discovery does not assume any obligation to update
any forward-looking statements except as required under applicable
laws. The risks and uncertainties that may affect forward-looking
statements, or the material factors or assumptions used to develop
such forward-looking information, are described under the heading
"Risks Factors" in the Company’s Annual Information Form dated
March 29, 2023, which is available under the Company’s issuer
profile on SEDAR at www.sedar.com.
Discovery Silver (TSX:DSV)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Discovery Silver (TSX:DSV)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024