04:05:11 EDT Tue 19 Oct 2021
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Discovery Silver Corp
Symbol DSV
Shares Issued 325,145,725
Close 2021-08-05 C$ 1.94
Recent Sedar Documents

Discovery Silver drills 46 m of 448 g/t AgEq at Cordero

2021-08-05 07:25 ET - News Release

Mr. Taj Singh reports

DISCOVERY INTERSECTS 448 G/T AGEQ OVER 46 M WITHIN 260 G/T AGEQ OVER 133 M IN NORTH CORRIDOR DRILLING AT CORDERO

Discovery Silver Corp. has released results from 21 diamond drill holes targeting bulk-tonnage mineralization in the North corridor at its flagship Cordero silver project located in Chihuahua state, Mexico. The results from this release will be incorporated into the new resource estimate scheduled for completion later this quarter and PEA (preliminary economic assessment) in the fourth quarter of 2021.

Highlight intercepts include:

  • 132.6 metres averaging 260 grams per tonne silver equivalent from 204.7 m (78 g/t silver, 0.11 g/t gold, 1.7 per cent lead and 2.8 per cent zinc) in hole C21-479, including:
    • 46.3 m averaging 448 g/t AgEq (110 g/t Ag, 0.10 g/t Au, 2.4 per cent Pb and 5.9 per cent Zn), including:
      • 21.5 m averaging 748 g/t AgEq (194 g/t Ag, 0.12 g/t Au, 4.2 per cent Pb and 9.6 per cent Zn);
  • 77.1 m averaging 190 g/t AgEq from 361.1 m (55 g/t Ag, 0.12 g/t Au, 1.4 per cent Pb and 1.8 per cent Zn) in hole C21-479, including:
    • 19.6 m averaging 422 g/t AgEq (137 g/t Ag, 0.25 g/t Au, 3.7 per cent Pb and 3.2 per cent Zn);
  • 86.2 m averaging 192 g/t AgEq from 312.5 m (51 g/t Ag, 0.09 g/t Au, 1.2 per cent Pb and 2.2 per cent Zn) in hole C21-476, including:
    • 36.5 m averaging 372 g/t AgEq (97 g/t Ag, 0.16 g/t Au, 2.3 per cent Pb and 4.3 per cent Zn);
  • 81.4 m averaging 184 g/t AgEq from 297.3 m (43 g/t Ag, 0.05 g/t Au, 0.9 per cent Pb and 2.5 per cent Zn) in hole C21-496, including:
    • 44.6 m averaging 251 g/t AgEq (60 g/t Ag, 0.07 g/t Au, 1.3 per cent Pb and 3.4 per cent Zn).

Taj Singh, president and chief executive officer, stated: "Our drill results continue to reinforce the broad widths and excellent grades that characterize large areas of the Cordero deposit. Drilling in the NE extension was successful in extending the strike length of high-grade mineralization by approximately 100 m. The five best intercepts within this zone, including four intercepts from this release, have returned an average interval of 109 m at 212 g/t AgEq. Today's results, along with the final assay results from our phase 1 drill program, will be incorporated in our upcoming resource estimate due to be released later this quarter."

Drill results

Drilling in the NE extension zone was successful in expanding the high-grade zone intercepted in C20-319, which returned 168.8 m of 207 g/t AgEq from 140.0 m (see May 7, 2020, press release), by approximately 100 m along strike. Holes in this release drilled to the northeast of C20-319 intercepted 132.6 m of 260 g/t AgEq and 77.1 m of 190 g/t AgEq (C21-479), 86.2 m of 192 g/t AgEq (C21-476) and 81.4 m of 184 g/t AgEq (C21-496). Follow-up drilling targeting the expansion of this zone to the northeast of C21-496 will be completed during the phase 2 drill program.

Drilling in the SW extension zone was successful in confirming continuity of mineralization within the high-grade bulk-tonnage domain in areas where there were gaps in previous drilling. Highlight intercepts include 102.7 m of 96 g/t AgEq (C21-486) and 55.7 m of 76 g/t AgEq (C21-490). Drilling in the far northeast, an area of the deposit that has seen little previous drilling, was targeting the potential expansion of the high-grade bulk-tonnage domain to the northeast. Assay results reported a number of shallow lower-grade intercepts in combination with encouraging intercepts including 94.3 m of 93 g/t AgEq (C21-461), 42.8 m of 92 g/t AgEq (C21-448) and 37.0 m of 98 g/t AgEq (C21-453). These results will be reviewed in conjunction with the updated resource model prior to further drilling in this part of the deposit.


Hole ID            From         To      Width         Ag         Au         Pb         Zn       AgEq
                    (m)        (m)        (m)      (g/t)      (g/t)        (%)        (%)      (g/t)

C21-448            97.5      115.0       17.6         59       0.10        0.3        0.6        101
and               376.0      418.7       42.8         27       0.04        0.2        1.3         92
C21-450           233.7      284.8       51.1         24       0.03        0.5        0.9         79
including         252.4      269.8       17.4         39       0.03        0.8        1.3        123
C21-453           280.7      317.7       37.0         36       0.04        0.6        0.9         98
C21-461            46.5      140.8       94.3         35       0.02        0.6        0.8         93
including          84.7      107.3       22.7         51       0.03        1.1        1.9        171
C21-476           108.3      226.5      118.2         22       0.06        0.4        0.7         68
including         161.4      198.0       36.6         33       0.07        0.5        1.0        100
and               312.5      398.7       86.2         51       0.09        1.2        2.2        192
including         312.5      349.0       36.5         97       0.16        2.3        4.3        372
C21-479           204.7      337.3      132.6         78       0.11        1.7        2.8        260
including         249.0      271.8       22.8        148       0.12        3.4        2.2        370
and including     291.0      337.3       46.3        110       0.10        2.4        5.9        448
including         315.8      337.3       21.5        194       0.12        4.2        9.6        748
and               361.1      438.1       77.1         55       0.12        1.4        1.8        190
including         373.1      392.7       19.6        137       0.25        3.7        3.2        422
C20-492           176.8      271.8       95.0         19       0.09        0.2        1.5         96
C21-494            72.4      274.9      202.5         17       0.07        0.2        0.8         65
C21-496           149.9      184.0       34.2         50       0.04        1.0        1.0        129
and               297.3      378.7       81.4         43       0.05        0.9        2.5        184
including         321.8      366.4       44.6         60       0.07        1.3        3.4        251
and               396.0      419.5       23.6         66       0.05        1.5        2.5        226
C21-486            24.5      127.2      102.7         37       0.15        0.5        0.7         96
including          74.0       98.1       24.1         71       0.27        1.0        1.3        184
C21-490            17.0       72.7       55.7         37       0.21        0.2        0.3         76

(1) All 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 cut-off with no more than 10 m of dilution. Intervals with vein mineralization were based on a 
100 g/t AgEq cut-off with no more than one m of dilution. AgEq calculations are used as the basis 
for total metal content calculations given Ag is the dominant metal constituent as a percentage of 
AgEq value in approximately 70 per cent of the company's mineralized intercepts. AgEq calculations 
for reported drill results are based on $16.50 (U.S.)/ounce Ag, $1,350 (U.S.)/oz Au, 85 U.S. 
cents/pound Pb and $1 (U.S.)/lb Zn. The calculations assume 100-per-cent metallurgical recovery 
and are indicative of gross in situ metal value at the indicated metal prices. Refer to technical 
notes for metallurgical recoveries assumed in the 2018 PEA completed on Cordero.

Drill program update

Phase 1 drilling

The company's phase 1 drill program concluded at the end of April. The data from the 75,000 m of new drilling (178 holes) completed in this program, along with 133,000 m of historic drilling (292 holes), will be used to support an updated resource (Q3 2021) and PEA (Q4 2021). The final assay results from phase 1 drilling (14 holes) are expected to be released later this month. Phase 2 assay results that have been received while awaiting final assays from phase 1 will also be used to support the updated resource and PEA.

Phase 2 drilling

The company has completed 21,600 m (56 holes) as part of its phase 2 drill program, which will be continuing through the remainder of the year. Phase 2 drilling will be focused on three key areas: (1) upgrading inferred resources for inclusion in a prefeasibility study; (2) resource expansion of bulk-tonnage mineralization; and (3) testing of the width, grade and continuity of the extensive high-grade vein systems that transect the deposit. There are currently four drill rigs operating on site.

About Discovery Silver Corp.

Discovery's flagship project is its 100-per-cent-owned Cordero project, one of the few silver projects globally that offers margin, size and scalability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua state, Mexico, and is supported by an industry-leading balance sheet with over $90-million available for aggressive exploration, resource expansion and future development.

Sample analysis and quality assurance/quality control program

The true width of the veins is estimated to be approximately 70 per cent of the drilled width. Assays 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 40 kilometres 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 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 per cent passing minus two millimetres and a split of 250 grams is taken and pulverized to better than 85 per cent passing 75 microns. Samples are analyzed for gold using standard fire assay-AAS (atomic absorption spectroscopy) techniques (Au-AA24) from a 50 g pulp. Overlimits are analyzed by fire assay and gravimetric finish. Samples are also analyzed using 33-element inductively coupled plasma method (ME-ICP61). Overlimit sample values are reassayed for: (1) values of zinc greater than 1 per cent; (2) values of lead greater than 1 per cent; and (3) values of silver greater than 100 g/t. Samples are reassayed using the ME-OG62 (high-grade material ICP-AES (inductively coupled plasma atomic emission spectroscopy)) analytical package. For values of silver greater than 1,500 g/t, samples are reassayed 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 QA/QC issues were noted with the results reported herein.

Qualified person

Gernot Wober, PGeo, vice-president, exploration, Discovery Silver, 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.

Technical notes

The most recent technical report for the Cordero project is the 2018 preliminary economic assessment (PEA) authored by M3 Engineering and Technology Corp. and includes the most recent resource estimate, completed by Independent Mining Consultants Inc. It is available on Discovery's website and on SEDAR under Levon Resources Ltd., a wholly owned subsidiary of Discovery. The PEA assumes metallurgical recoveries of 89 per cent for Ag, 84 per cent for Pb, 72 per cent for Zn and 40 per cent for Au.

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd. All rights reserved.