Discovery Intercepts 661 g/t AgEq over 18 m and 265 g/t AgEq over 39 m Outside Current Resource at Cordero
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July 13, 2022, Toronto, Ontario - Discovery Silver Corp. (TSX-V: DSV, OTCQX: DSVSF) (“Discovery” or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/discovery-metals-corp/) is pleased to announce results from 22 holes from its Phase 2 drill program on its flagship Cordero silver project (“Cordero” or “the Project”) located in Chihuahua State, Mexico. The current set of results is focused on expansion of the open pit and the resource in the northeast of the deposit and will be incorporated in a resource update and Pre-Feasibility Study scheduled for completion in the fourth quarter of this year.
Highlight intercepts include:
- C22-610 intercepted 6 m averaging 388 g/t AgEq1 (115 g/t Ag, 0.05 g/t Au, 3.7% Pb and 4.1% Zn) from 226.6 m, including 17.8 m averaging 660 g/t AgEq1 (187 g/t Ag, 0.05 g/t Au, 6.5% Pb and 7.2% Zn); the intercept was more than 700 m outside the current resource and approximately 180 m below historic workings at surface
- C22-605 intercepted6 m averaging 265 g/t AgEq1 from 27.2 m (89 g/t Ag, 0.13 g/t Au, 1.8% Pb and 3.0% Zn) within an area previously modeled as low grade/waste
- C22-596 intercepted 3 m averaging 184 g/t AgEq1 from 77.2 m (49 g/t Ag, 0.06 g/t Au, 1.2% Pb and 2.5% Zn) approximately 130 m outside the current resource
- C22-609, the northeasternmost hole drilled by the Company, intercepted 1 m averaging 150 g/t AgEq1 from 233.7 m (54 g/t Ag, 0.08 g/t Au, 0.5% Pb and 1.3% Zn) and 17.7 m averaging 115 g/t AgEq1 (35 g/t Ag, 0.01 g/t Au, 0.9% Pb and 1.4% Zn) from 198.2 m
Tony Makuch, Interim CEO, states: “Our drilling in the far northeast of the deposit continues to intercept zones of high-grade mineralization well beyond the limits of our current resource. This current set of drillholes includes the two northeasternmost holes we have drilled on the deposit. Highlight intercepts from these two holes include 33 m of 388 g/t AgEq1, 33 m of 150 g/t AgEq1 and 16 m of 147 g/t AgEq1. These intercepts correspond with historic surface workings that extend more than 200 m further to the northeast. We look forward to follow-up drilling of this new area as we target the potential expansion of the resource in this direction.”
This current set of Phase 2 drill holes was focused on expansion of the open pit and the resource in the northeast of Cordero. The drilling in this part of the deposit is widely spaced with drill spacing typically ranging from approximately 50 m to 250 m. Follow-up step-out and infill drilling in this area will be planned once the resource model has been updated in 4Q 2022 with this new drill data.
C22-610 intercepted a mineralized fracture system approximately 180 m below historic workings at surface that returned 32.6 m of 388 g/t AgEq1 from 226.6 m. C22-609, collared approximately 300 m to the northwest of C22-610, confirmed the potential depth extensions of three parallel sets of historic workings at surface. Highlight intercepts below these workings at depth include 33.1 m of 150 g/t AgEq1, 17.7 m of 115 g/t AgEq1 and 4.9 m of 375 g/t AgEq1. These holes are the northeasternmost holes drilled by the Company and intercepted mineralization up to 500 m outside the current resource. Historic surface workings extend at least 200 m further to the northeast, highlighting the potential for resource growth in this part of the deposit.
C22-605 intercepted a near-surface high-grade zone near-surface that returned 38.6 m of 265 g/t AgEq1 from 27.2 m including 22.3 m of 380 g/t AgEq1. This zone sits within the far northeast of the resource in an area previously modelled as low grade/waste. C22-596 was drilled approximately 150 m to the northeast of the current resource to test the extension of the Josefina vein trend in this direction. Highlight intercepts from this hole included 60.3 m of 184 g/t AgEq1 from 77.2 m and 36.4 m of 77 g/t AgEq1 from 481.3 m.
Detailed drill highlights from the holes in this release are provided in the table below: