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Discovery Metals Corp
Symbol C : DSV
Shares Issued 65,043,998
Close 2019-07-10 C$ 0.235
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Discovery Metals receives drill permits for Monclova

2019-07-11 17:44 ET - News Release

Mr. Taj Singh reports

DISCOVERY METALS RECEIVES DRILLING PERMIT FOR ITS MONCLOVA PROJECT

Discovery Metals Corp. has been granted drilling permits for its Monclova silver-zinc-lead project in Coahuila state, Mexico.

Discovery's president and chief executive officer, Taj Singh, commented: "The receipt of the drilling permit for Monclova is a significant step for the company. Our team has been working diligently to develop an exploration plan for the project and has delineated multiple high-potential drill targets that we can test in 2019. This will be the first drilling ever carried out at this past-producing, high-grade project."

Over the last year, the company has completed fieldwork, including surface and underground (UG) mapping, sampling, and a ground magnetometer survey that highlight significant potential at a number of showings. The Real Viejo area is the key near-term target. It hosts five historical shallow underground mines along a strike of 1.5 kilometres at a limestone-intrusive rock contact. Discovery's channel sampling program at Real Viejo consistently returned high grades. The 50 highest-grade channel samples returned an average grade of 677 grams per tonne silver equivalent (1) (277 grams per tonne silver, 6.7 per cent zinc and 1.9 per cent lead). Assays of the top 25 channel samples by AgEq (1) from Real Viejo are shown in the attached table (all previously released (2)).

                                         CHANNEL SAMPLE RESULTS
 
Sample   Surface/UG   Length (m)   Ag (g/t)   Zn (%)   Pb (%)   AgEq (1) (g/t)   ZnEq (1) (%)   Mineralization (type)

223810           UG         0.3         69     40.2      0.7            2,532           44.6                   manto
223666      Surface         1.2        962     16.2      7.2            2,229           39.2                 breccia
223696      Surface         1.0        322     23.7      1.0            1,795           31.6                 breccia
253080           UG         1.0        450     16.1      2.9            1,558           27.4                 breccia
253075           UG         0.7      1,005      5.9      2.1            1,493           26.3                 breccia
223688           UG         1.0        280     16.8      1.9            1,371           24.1                 breccia
223661      Surface         1.5        747      9.0      0.8            1,321           23.2                 breccia
253081           UG         0.8        309      8.5      9.6            1,216           21.4                 breccia
223809      Surface         1.2        561      9.7      1.0            1,190           20.9                 breccia
223697      Surface         1.0        151       15      1.6            1,121           19.7                 breccia
223660      Surface         1.5        611      6.1      1.9            1,056           18.6                 breccia
223675           UG         1.4        211      8.9      6.9            1,027           18.1                 breccia
253085           UG         1.0        507      4.0      6.1            1,018           17.9                 breccia
223659      Surface         1.2        240     11.4      1.4              987           17.4                 breccia
223689           UG         0.9        493      6.0      2.4              952           16.8                 breccia
223690           UG         0.7        363      8.6      1.6              951           16.7                 breccia
223727           UG         0.8         72     13.3      1.2              920           16.2                   manto
223725           UG         0.8        151      8.8      5.2              893           15.7                   manto
223826           UG         1.2        714      1.1      0.5              814           14.3                 breccia
223812           UG         0.4        276      6.2      3.4              790           13.9                   manto
AVERAGE           -         0.9        380     10.0      2.5            1,090           19.2                       -

About the Monclova project and the Real Viejo area

The Monclova project, located 25 kilometres southwest of the city of Monclova, is centred on the 12-square-kilometre Monclova intrusive complex, characterized by a series of intrusions of mainly intermediate composition, that were emplaced into Cretaceous limestones of the Aurora formation, with numerous mineral prospects located within and surrounding the stock. Historically, miners extracted silver-lead-zinc ores primarly hosted in mantos and veins and copper-gold-iron ores primarily hosted in skarns. Discovery is carrying out the first significant modern exploration program at Monclova.

The Real Viejo area is approximately two square kilometres in size and is located along the southern contact of the Monclova intrusive complex, where a series of east- to southeast-trending silver-zinc-lead-mineralized, silica-rich vein, replacement bodies (mantos), skarn-altered embayment zones and breccias two to 10 metres wide is located. Mineralization occurs primarily as very fine grains of sulphides (sphalerite, galena and argentite), oxides of zinc (hydrozincite and smithsonite) and lead (cerussite and plumbojarosite).

About Discovery Metals Corp.

Discovery Metals is focused on discovering and advancing high-grade polymetallic deposits in a recently assembled land package of approximately 150,000 hectares over a large and historical mining district in northern Coahuila state, Mexico. The portfolio of three large-scale, drill-ready projects and several earlier-stage prospects, all with shallow high-grade silver-zinc-lead mineralization, is situated in a world-class carbonate replacement deposit belt that stretches from southeast Arizona to central Mexico. The landholdings contain numerous historical direct-ship ore workings with several kilometres of underground development, but no modern exploration or exploration drill testing has been carried out on the properties prior to Discovery's time.

References

(1) All numbers in this news release are rounded, and assays are uncut and undiluted. Silver equivalent and zinc equivalent calculations are based on $17 (U.S.) per ounce silver, $1.50 (U.S.) per pound zinc and $1 (U.S.) per pound lead, and do not consider metallurgical recovery.

(2) See the news releases from April 23, 2019, Nov. 8, 2018, and June 6, 2018, for more details.

Technical notes

Qualified person

Gernot Wober, PGeo, vice-president, exploration, Discovery Metals, 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) and has reviewed and validated that the information contained in this news release is accurate.

We seek Safe Harbor.

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