The Second Assay Report of Rock Samples indicated near surface ore bodies for trenching operations expected to increase overall yield as well as identify additional target zones.
Murphy, ID, Aug. 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Discovery Minerals Ltd (DSCR) is an acquisition and development Company that targets natural resource properties primarily in precious metals and mining operations. Discovery Minerals Ltd and Murphy Noble Metals JV are pleased to announce exciting results of its second reconnaissance rock sampling program, showing higher concentrations of Au and Ag and near surface deposits appropriate for trenching. Given the findings the Company has commenced trenching operations along a 2,000-foot section of the Oro Fino vein. Ongoing assay reports are an important part of the operations to define mineralization on specific ore body targets as well as to identify the most favorable target zones.
At this juncture the company is pleased that the project continues to produce positive assay results extending the target areas. DSCR has embarked upon a trenching program along various accessible parts of the project to establish continuity and widths of the various veins within the overall structure. Although the hanging wall and footwall veins are the main feature of the Oro Fino reef structure, there are other veins which split from or link these two main vein sets. These packages of vein sets, now freshly exposed by the trenching, will add to the overall potential of a bulk open cut resource. The trenching and subsequent assay results will also allow more accurate placement of drill targets along the shear zone.
Russel Smith, CEO of Discovery Minerals LTD commented; “As more data is gathered and added to the overall assessment of the project we notice a certainty forming that all the factors that are needed for a major occurrence are present. We are seeing structures that are quite easy to identify given similarity to other known gold resources. The assay reports are confirming our initial geological expectations. These results continue to increase our confidence as they show the actual vein material in situ and its structure as it relates to both mined and yet to be mined mineralization. The trenching program will also lead to additional assay results that will improve the drill target placement.”
The assay results of the second set of 35 reconnaissance samples from War Eagle Mountain. Overall the samples averaged 3.95 ppm Au and 60 ppm Ag and ranged up to 22.4 ppm Au and 364 ppm Ag.
The best assay sample is from a minor outcropping vein two feet wide with 22.4 ppm Au and 364 ppm Ag. Another high-grade sample assayed 9.98 ppm Au from a quartz stockpile where widespread old workings occur, which are now overgrown, indicating mineable widths of possibly greater than 10 feet.
In continuing the large waste dump assessment some samples were collected of bulk waste and quartz only material. A preliminary sample from a particularly large dump assayed 3.86 ppm Au and 68 ppm Ag as the bulk material and the quartz only material assayed 15.4 ppm Au and 93 ppm Ag. Further assessment is continuing on this and other dumps.
|Sample ID||Location||Type||Description||Quartz %||Au ppm||Ag ppm|
|MAH07||Mahogany||Dump grab||Quartz Vein grab from dump||100||4.67||63|
|MAH08||South Chariot||Dump grab||Quartz Vein grab from dump||100||5.75||152|
|MAH09||Mahogany||Rock chip||Quartz Vein outcrop in nth end of slot, 2' wide||100||22.4||364|
|MIN02||Minnesota||Dump grab||Quartz grab, crystalline, banded, bx & vughy||90||15.4||93|
|MIN01||Minnesota||Dump grab||Mullock, granite fresh to weathered, minor sand||15||3.86||68|
|ORO28||Oro Fino||Dump grab||Quartz Vein grab from dump||100||9.4||27|
|ORO26||Oro Fino||Dump grab||Quartz Vein grab from dump||100||1.15||15|
|ORO24||Oro Fino||Dump grab||Quartz Vein grab from dump||100||1.95||12|
|ORO29||Oro Fino||Dump grab||Quartz Vein grab from dump||100||2.79||23|
|CH105||Cape Horn#1||Dump grab||Quartz stockpile, crystalline quartz||100||9.98||12|
|CH106||Cape Horn#1||Dump grab||Quartz breccia, banded, massive, & colloform||70||1.16||9|
|CH107||Cape Horn#1||Dump grab||Quartz grab, stockpile from pulley wheel adit||100||2.12||6|
Table 1 Significant gold and silver assays
The table of greater than 1 ppm Au is presented from the various prospects along the Oro Fino vein system, from the southern Mahogany area to the northern most area at the Cape Horn. Gold and silver mineralization are present throughout the length of the Oro Fino vein, although the silver grades weaken toward the north.
About Discovery Minerals Ltd.:
Discovery Minerals Ltd. (OTC PINK : DSCR) is an acquisition and development company that targets natural resource properties and cutting edge technology opportunities through its subsidiaries. The Board of Directors has determined that these activities be continued with an emphasis on early positive cash flow from any projects undertaken.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Authorized by Russell Smith, CEO.
Discovery Minerals Ltd.