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Discovery Metals Announces High-Grade Channel Sample Results From Puerto Rico Project

07.11.2017  |  GlobeNewswire

TORONTO, Nov. 07, 2017 (GLOBE NEWSWIRE) -- Discovery Metals Corp. (TSX-V:DSV) ("Discovery" or the "Company") is pleased to announce that it has received assay results on an initial 32 channel samples from its Puerto Rico Project (“the Project”) in northern Coahuila State, Mexico. The Puerto Rico Project is a large, multi-target carbonate replacement mining district, with approximately one million tonnes of past production of direct-shipping, shallow, high-grade zinc ore. Discovery controls approximately 350 km2 of mineral rights covering a 6 km long trend of historic mines and alteration features, as well as prospective structural extensions.

Sample location map of the San José Mine workings showing channel samples reported in this Press Release. The mine workings that were accessible to sample expose multiple sub-parallel, steeply-dipping manto replacement deposits that at this level are oxidized.


Sample location map of the Puerto Rico Mine workings showing channel samples reported in this Press Release. There are multiple horizons of manto-style replacement in the limestones at this mine.


General Geologic map showing 1970s era rock-chip geochemistry along the main 6-kilometre northern portion of the Puerto Rico Project, from the Venus mine on the north to the Zaragoza Mine on the south. The Mexico government agency “Consejo de Recursos Minerals”, along with the Metal Mining Agency of Japan completed an extensive program of geologic mapping and 814 geochemical samples from 1975 to 1978. This data has been captured by the Company to guide its future exploration.


Highlights:
The 32 channel samples released herein are from the southern half of the project, where three mines produced ores in the early part of the twentieth century: from north to south, the Puerto Rico, San Jose and Zaragoza Mines, with a distance of ~1.5 km between Puerto Rico and Zaragoza. Of the 32 channel samples, 13 samples are part of five “continuous channels” which comprise 2-4 side-by-side individual channel samples; the other 19 channel samples are individual channels taken from various locations at the mines; a vast majority of the samples were taken from the walls of historic drifts and stopes and three were taken from open-pit workings. The samples were all chip-cut perpendicular to the mineralization; the mineralization was mainly manto-type with some samples also from high-angle breccias, fracture zones and chimney features. Results of the five continuous channels include:

  • Continuous channel “SJ-01 to 04”, from the San Jose Mine, had a weighted average grade of 18.0% zinc (Zn), 1.6% lead (Pb), 0.15% copper (Cu), and 25 grams per tonne (g/t) silver (Ag) over a total width of 10.5 meters (m). This represents a channel comprised of four continuous channel samples, with total weight of 4.94 kg, from the wall of a manto dipping at 70o SW, exposed in a stope at level +22 (i.e. 22 m above access / haulage).
  • Continuous channel “SJ-05 & 06”, from the San Jose Mine, had a weighted average grade of 17.3% Zn, 29.7% Pb, 0.44% Cu, and 519 g/t Ag over a total width of 4 m. This represents a channel of two continuous channel samples, with total weight of 3.14 kg, from the wall of a manto dipping at 60o SW, exposed in a stope at level +22.
  • Continuous channel “SJ-12 to 14”, from the San Jose Mine, had a weighted average grade of 1.6% Zn, 14.3% Pb, 0.83% Cu, and 205 g/t Ag over a total width of 6 m. This represents a channel of three continuous channel samples, with total weight of 3.32 kg, from the wall of a manto dipping at 30o NE, exposed at surface (open-pit cut).
  • Continuous channel “PR-06 & 07”, from the Puerto Rico Mine, had a weighted average grade of 31.1% Zn, 1.8% Pb, and 25 g/t Ag over a total width of 5 m. This represents a channel of two continuous channel samples, with total weight of 3.02 kg, from the wall of a manto dipping at 70o SW, exposed in a stope at level +25.
  • Continuous channel “PR-08 & 09”, from the Puerto Rico Mine, had a weighted average grade of 24.3% Zn, 20.8% Pb, and 615 g/t Ag over a total width of 6 m. This represents a channel of two continuous channel samples, with total weight of 3.08 kg, from the wall of a vertically-dipping manto, exposed in a stope at level +25.

Taj Singh, Discovery President and CEO, commented: “The results of our channel samples demonstrate the very high-grade polymetallic mineralization exposed on surface and in near-surface abandoned mine workings at our Puerto Rico Project. Puerto Rico has all the characteristics of a major carbonate-replacement mining district, with multiple past-producing mines that were left open to expansion, substantial evidence of very high-grade mineralization, and a mixture of polymetallic oxide and sulfide ore types within the deposit. With the grades that we are seeing here, the project continues to show high potential. Considering the extensive existing underground workings and a long production history, there is significant compilation work to be done in the coming months, in conjunction with surface exploration activities. We have commenced the drill-permitting process and are aiming to be in a position to start drilling in Q3 2018.”

Results & Discussion:
A summary set of results are shown in Table 1. Table 2 shows the complete data set and Figures 1 and 2 show corresponding locations of the samples on plan views.

Table 1 – Summary of Puerto Rico Project Q4-2017 Channel Samples

Mine Sample # Wt (kg) Width (m) Ag (g/t) Pb % Zn % Cu % Drift/Stope wall Dip UG Level (m)
Zaragoza ZA-01 1.78 0.8 202 22.3 0.7 0.16 Drift 10SE 0
Zaragoza ZA-02 1.66 2.0 242 25.2 6.3 0.19 Drift 10SE 0
Zaragoza ZA-03 2.37 3.0 176 18.5 17.5 0.13 Drift 10SE 0
Zaragoza ZA-04 1.47 3.5 506 3.5 21.9 0.11 Stope 10NE 0
San Jose SJ-01 to 04 4.94 10.5 25 1.6 18.0 0.15 Stope 70SW +22
San Jose SJ-05 & 06 3.14 4.0 519 29.7 17.3 0.44 Stope 60SW +22
San Jose SJ-07 1.17 2.0 158 19.5 1.3 4.49 Drift 60SW +22
San Jose SJ-08 1.13 0.8 188 8.2 13.6 8.58 Drift 70SW +22
San Jose SJ-09 1.19 5.0 172 6.5 1.3 0.27 Drift 65SW +22
San Jose SJ-10 1.17 2.0 207 12.9 18.3 0.08 Drift NA 0
San Jose SJ-11 1.09 3.0 1480 31.9 0.1 0.41 Stope 40NE 0
San Jose SJ-12 to 14 3.32 6.0 205 14.3 1.6 0.83 n/a 30NE Surface/ Pit
Puerto Rico PR-01 1.30 2.0 58 5.2 46.5 0.03 Stope 80SW +20
Puerto Rico PR-02 1.08 4.0 230 15.0 26.3 0.06 Drift 80SW +20
Puerto Rico PR-03 1.48 1.2 167 18.6 24.6 0.04 Stope Vert +20
Puerto Rico PR-04 1.66 1.5 7 0.3 36.2 0.01 Stope Vert +20
Puerto Rico PR-05 1.70 1.5 316 23.0 15.0 0.01 Drift Vert +20
Puerto Rico PR-06 &07 3.02 5.0 25 1.8 31.1 0.02 Stope 70SW +25
Puerto Rico PR-08 & 09 3.08 6.0 615 20.8 24.3 0.04 Stope Vert +25
Puerto Rico PR-10 1.56 2.2 415 19.5 8.1 0.02 Drift Vert 0
Puerto Rico PR-11 1.20 0.8 75 7.8 33.7 0.03 Drift 40NE 0
Puerto Rico PR-12 1.46 2.0 152 9.5 35.4 0.03 Stope 30NE 0
Puerto Rico PR-13 1.46 2.2 144 26.9 3.0 4.86 Drift 40NE 0
Puerto Rico PR-14 2.08 1.6 477 11.8 2.4 11.2 Drift 70SE 0

The samples are part of a system of northwest-striking, primarily steeply-southwest dipping mantos that are open to expansion at depth and along strike. The mineralization is controlled by original limestone stratigraphy which has been deformed into tight northwest-striking folds. The manto-style mineralization tends to follow favorable beds in the limestone. The combination of both original sulfide mineralization and subsequent oxidation have resulted in varying mixtures of silver – lead – zinc – copper values. The widths and grades in this initial sampling provide encouragement to the Company that economically robust polymetallic grades potentially occur on the project, and that a substantial program of geology, geophysics, geochemistry, and drilling is merited.

Planned work program:
A detailed compilation program, based on historic production and exploration data, is underway. The Company plans to begin surface exploration work in Q1 2018, which will include extensive high-quality remote sensing to detect alteration patterns, geologic mapping, extensive rock-chip geochemistry using both hand-held XRF and laboratory-submitted samples, and ground geophysics. The Company plans to begin drilling, subject to receiving permits, in Q3 2018.

Puerto Rico Project background:
The Puerto Rico Project has a long and rich history, as described in the Company’s August 2017 NI-43-101 Technical Report, available on SEDAR. Mineralization at the Puerto Rico Mine was first discovered in 1883 as an outcropping lead-silver oxide chimney, and subsequently at the more southerly San Jose Mine. The project was leased to the Kansas City Smelting and Refining Company in 1896 and the Puerto Rico chimney was mined from 1896 to 1900. In 1906, ASARCO, a stock company, was formed to mine zinc oxides from the walls of the lead oxide stopes. An aerial tramway was constructed near the Puerto Rico mine to haul ores across the Rio Grande and into Texas. It was then transported to Marathon, Texas to be shipped by rail to St. Louis. Mining of the zinc oxides ended around 1918 due to the onset of the Mexican Revolution. Production is poorly documented from the 1920s to 1960s. Mining of direct-shipping zinc oxide ores took place from the 1970s to 1985. During this time, the majority of workings on haulage levels of the Puerto Rico and San Jose mines were excavated after mantos were recognized in historic haulage crosscuts. From 1975 to 1978, Mexico’s Consejo de Recursos Minerales (CRM), in partnership with the Metal Mining Agency of Japan, conducted surface geology and geochemical sampling. Core drilling was conducted at the Papicuano lead-silver occurrence in the north portion of the trend, but no drilling was performed at the Puerto Rico or San José mines. The CRM measured approximately 4,000 metres of underground workings in the district as a whole and suggested that on the order of one million tonnes of material has been mined since initial exploitation.

Qualified Person & QA/QC: This news release was reviewed and approved by Taj Singh, M.Eng, P.Eng, President and CEO of the Company, who is recognized as a Qualified Person (“QP”) under the guidelines of National Instrument 43-101. Discovery Metals has a QA/QC program in place, including assurances that samples are sealed on the project site, and transported to the laboratory in company vehicles or insured courier. The Company maintains a policy of regularly inserting registered control reference materials and blank samples to assure that laboratory results are reliable, and this policy was used for the samples in this press release. The channel samples presented in this press release were were taken with hammer and chisel across intervals. Samples were prepared at ALS labs in Hermosillo and Guadalajara, where they were dried, crushed, split and pulverized, then shipped to the ALS lab in Vancouver. At ALS Vancouver, samples were first assayed using the ME-ICP61a (Conventional ICP-AES) analytical package. For values of zinc greater than 10%, values of lead greater than 10%, and values of silver greater than 200 g/t, samples were re-assayed using the ME-OG62 (High-Grade Material ICP-AES) analytical package. For values of zinc greater than 30%, samples were re-assayed using the Zn-VOL50 (Potentiometric titration for Zn) analytical package. For values of lead greater than 20%, samples were re-assayed using the Pb-VOL70 (Volumetric Titration with EDTA for the Determination of Lead) analytical package.

About Discovery Metals
Discovery Metals is focused on discovering and advancing high grade polymetallic deposits in a recently assembled land package of approximately 300,000 hectares over a large and historic mining district in northern Coahuila State, Mexico. The portfolio of seven key properties, all with shallow high grade silver-zinc-lead mineralization, is situated in a world class Carbonate Replacement Deposit (CRD) belt that stretches from SE Arizona to central Mexico. The land holdings contain numerous historical direct-ship ore workings with over 4,000 m of underground development. No modern exploration or exploration drill testing has been carried out on the properties.

On Behalf of the Board of Directors of:
DISCOVERY METALS CORP.

For further information contact:

Taj Singh, P.Eng, CPA
President & CEO
Phone: 416-613-9410
Email: taj.singh@dsvmetals.com
Susie Bell
Investor Relations Manager
Phone: 604-683-7790
Email: susie.bell@dsvmetals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 the Company 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. 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. We do not assume any obligation to update any forward-looking statements except as required under applicable laws

Table 2 – Puerto Rico Project Q4-2017 Channel Sampling – Complete results

Mine Sample # Weight (kg) Width (m) Type Ag (g/t) Pb% Zn% Cu% Drift/Stope wall Structure Strike Dip Mineral type Underground
Level (m from
access/haul)
Zaragoza ZA-01 1.78 0.8 Channel 202 22.3 0.7 0.16 Drift Bxted Manto NE10 10SE PbZnOx/Sulph 0
Zaragoza ZA-02 1.66 2.0 Channel 242 25.2 6.3 0.19 Drift Bxted Manto NE20 10SE PbZnOx/Sulph 0
Zaragoza ZA-03 2.37 3.0 Channel 176 18.5 17.5 0.13 Drift Manto NE10 10SE PbZnSulph 0
Zaragoza ZA-04 1.47 3.5 Channel 506 3.5 21.9 0.11 Stope Bxted Manto NW30 10NE PbZnOx/Sulph 0
San Jose SJ-01 1.23 1.3 Channel 11 1.5 36.9 0.17 Stope Manto NW40 70SW ZnOx +22
San Jose SJ-02 1.26 4.0 Channel 40 2.7 9.4 0.13 Stope Fxs-Diss NW40 70SW ZnOx +22
San Jose SJ-03 1.16 4.0 Channel 21 0.9 13.0 0.16 Stope Fxs-Diss NW40 70SW ZnOx +22
San Jose SJ-04 1.29 1.2 Channel 6 0.9 43.1 0.19 Stope Manto NW40 70SW ZnOx +22
San Jose SJ-01 to 04 4.94 10.5 Continuous Channel 25 1.6 18.0 0.15 Stope NW40 70SW +22
San Jose SJ-05 1.75 2.0 Channel 511 35.6 16.0 0.58 Stope Fxs-Diss NW60 60SW PbZnOx/Sulph +22
San Jose SJ-06 1.39 2.0 Channel 526 23.7 18.6 0.31 Stope Fxs-Diss NW60 60SW PbZnOx/Sulph +22
San Jose SJ-05 & 06 3.14 4.0 Continuous Channel 519 29.7 17.3 0.44 Stope NW60 60SW +22
San Jose SJ-07 1.17 2.0 Channel 158 19.5 1.3 4.49 Drift Manto NW60 60SW PbCuZnOx +22
San Jose SJ-08 1.13 0.8 Channel 188 8.2 13.6 8.58 Drift Manto NW80 70SW PbCuZnOx +22
San Jose SJ-09 1.19 5.0 Channel 172 6.5 1.3 0.27 Drift Manto NW30 65SW PbZnOx/Sulph +22
San Jose SJ-10 1.17 2.0 Channel 207 12.9 18.3 0.08 Drift Breccia n/a n/a PbZnOx/Sulph 0
San Jose SJ-11 1.09 3.0 Channel 1480 31.9 0.1 0.41 Stope Manto NW15 40NE PbCuZnOx 0
San Jose SJ-12 1.10 1.0 Channel 351 9.6 3.7 1.05 n/a Manto NW20 30NE PbZnCuOx Open-pit
San Jose SJ-13 1.19 3.0 Channel 200 24.3 1.0 0.39 n/a Fxs-Diss NW20 30NE PbZnOx/Sulph Open-pit
San Jose SJ-14 1.03 2.0 Channel 139 1.7 1.6 1.38 n/a Manto NW20 30NE CuZnPbOx Open-pit
San Jose SJ-12 to 14 3.32 6.0 Continuous Channel 205 14.3 1.6 0.83 NW20 30NE Open-pit
Puerto Rico PR-01 1.30 2.0 Channel 58 5.2 46.5 0.03 Stope Manto NW30 80SW ZnOx +20
Puerto Rico PR-02 1.08 4.0 Channel 230 15.0 26.3 0.06 Drift Manto NW30 80SW ZnOx +20
Puerto Rico PR-03 1.48 1.2 Channel 167 18.6 24.6 0.04 Stope Manto NW15 Vert ZnPbOx/Sulph +20
Puerto Rico PR-04 1.66 1.5 Channel 7 0.3 36.2 0.01 Stope Manto NW15 Vert ZnPbOx/Sulph +20
Puerto Rico PR-05 1.70 1.5 Channel 316 23.0 15.0 0.01 Drift Bxted Manto NW50 Vert ZnPbOx/Sulph +20
Puerto Rico PR-06 1.72 2.5 Channel 8 0.9 25.8 0.01 Stope Manto NW45 70SW PbZnOx +25
Puerto Rico PR-07 1.30 2.5 Channel 41 2.7 36.4 0.03 Stope Manto NW45 70SW PbZnOx +25
Puerto Rico PR-06 &07 3.02 5.0 Continuous Channel 25 1.8 31.1 0.02 Stope NW45 70SW +25
Puerto Rico PR-08 1.50 3.0 Channel 393 19.3 22.4 0.02 Stope Manto NW60 Vert ZnPbOx/Sulph +25
Puerto Rico PR-09 1.58 3.0 Channel 837 22.3 26.1 0.07 Stope Manto NW60 Vert ZnPbOx/Sulph +25
Puerto Rico PR-08 & 09 3.08 6.0 Continuous Channel 615 20.8 24.3 0.04 Stope NW60 Vert +25
Puerto Rico PR-10 1.56 2.2 Channel 415 19.5 8.1 0.02 Drift Manto NW50 Vert ZnPbOx +25
Puerto Rico PR-11 1.20 0.8 Channel 75 7.8 33.7 0.03 Drift Manto NW20 40NE ZnOx 0
Puerto Rico PR-12 1.46 2.0 Channel 152 9.5 35.4 0.03 Stope Manto NW75 30NE ZnOx 0
Puerto Rico PR-13 1.46 2.2 Channel 144 26.9 3.0 4.86 Drift Manto NW40 40NE CuZnOx 0
Puerto Rico PR-14 2.08 1.6 Channel 477 11.8 2.4 11.20 Drift Chimney NE70 70SE CuZnOx 0

Notes:
Structure codes: Bxted = brecciated; Fxs-Diss = fractures-disseminated, a mineralization-type that is not massive but along irregular veinlets-fractures and disseminated in the rock-matrix


Infographics accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/4a9d0f41-647e-4a27-bcbf-d242cc0de15e

http://www.globenewswire.com/NewsRoom/AttachmentNg/2e7d7410-9466-4207-b206-c56ee8c59b46

http://www.globenewswire.com/NewsRoom/AttachmentNg/2b6e579f-9b30-426e-b123-9552ad2e689b


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