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Discovery Minerals Announces Positive Assay Results Outlining Additional Near Surface Gold Bearing Structures Expanding the Initial Oro Fino Target Zone

09.09.2019  |  GlobeNewswire

MURPHY, Sept. 09, 2019 - via NEWMEDIAWIRE – Discovery Minerals Ltd. (OTCQB: DSCR), the precious metals exploration and production company, and their JV Partner are pleased to announce the results of its continued reconnaissance rock sampling program at it’s War Eagle Mountain Project. The Oro Fino vein is the first target of three major vein systems at War Eagle Mountain. The most recent assay program targeted the Oro Fino vein system and samples were collected from available exposures of reef, waste dumps and mineralized quartz vein material found during our recent trenching program.

Russell Smith, CEO of Discovery Minerals Ltd., commented: “This assay Report reinforces the consistency of our past results and clearly demonstrates the wider spread of mineralization over the held claims. In short, the new found mineralized structures indicate a much bigger tonnage potential than was first anticipated. The main Oro Fino vein and shear zone has many parallel veins and cross structures. These are near surface occurrences that are easily reached. The 1860s miners had uncovered many of these at the surface but left them because the grade did not reach their minimum 1 oz per ton gold requirement brought into play due to high operating costs at that time. Now with the combination of modern mining equipment and techniques together with the increasing price of gold, these surface structures are profitable at even 3-4 grams per ton grade. The consistency of gold & silver distribution in the vein structures that we are finding at War Eagle Mountain is quite extraordinary.”

ASSAY REPORT:

The assay results of this set of 72 samples from War Eagle Mountain have been received. Overall the samples averaged 3.32 ppm Au and ranged up to 33.4 ppm Au. Silver assays were not acquired.

Highlights of the sampling include a trench sample yielding 33.4 g/t Au from a quartz vein 2 feet wide on one of the east hanging wall veins from the OroFino Ridge area. Other samples along strike from this vein outcrop included assays of ranging between 2.26 and 22.2 g/t Au over widths of 6 inches to 2 feet for a length of around 350 feet, with the 10 samples averaging 9.97 g/t Au. Although the vein is relatively small this situation bodes well for the continuity of grade in other vein structures, and there are a number of parallel structures nearby that have had variable levels of previous mining.

In the same area, further west on the main West vein, a hanging wall quartz vein was encountered in the trenching 2 feet eat of the backfill where mining had previously occurred. This hanging wall zone assayed 3.15 g/t over 3 feet. Another quartz dump sample further north on this west vein split assayed 9.82 g/t Au.

North of the OroFino shaft, the main east vein out-crops in a pit. Channel sampling across the vein yielded 5 feet at 4.06g/t Au.

Sieving of the waste dumps also showed encouragement where some dumps had highly variable gold assays depending upon the sieved size fraction assayed. Two dumps yielded 15.25 g/t Au from certain size fractions compared to overall previous bulk assays of ~1 g/t Au.

Assays >1 g/t Au are presented below.

QV = quartz vein

AssayID Location Type Description Qtz % Au ppm
404801 Oro Fino Dump grab QV grab from dump, colloform & brecciated 100 16.90
404802 Oro Fino Dump grab QV grab from dump 100 4.08
404803 Oro Fino Dump grab QV grab from dump 100 5.00
404804 OroFino Ridge Rock grab QV grab sub-crop 100 8.62
404805 OroFino Ridge Rock grab QV grab sub-crop 70 8.01
404806 OroFino Ridge Rock grab QV grab float, crustiform, banded, brecciated 100 22.20
404845 Oro Fino Rock chip QV outcrop west wall 12” 80 2.85
404847 Oro Fino Rock chip QV outcrop chip 12” 80 2.93
404848 Oro Fino Rock chip QV outcrop chip 12” 80 2.57
404849 Oro Fino Rock chip QV outcrop chip 12” 80 11.20
404850 Oro Fino Ridge Rock chip QV 24” in granite 50 33.40
404852 Oro Fino Ridge Rock chip QV 5" in granite 40 1.95
404853 Oro Fino Ridge Rock chip QV 16" in granite 80 10.05
404854 Oro Fino Ridge Rock chip QV 6" in granite 80 2.26
404855 Oro Fino Ridge Rock chip QV 6" in granite, 85E dip 80 3.72
404856 Oro Fino Ridge Rock chip QV 6" in granite. West split 80 4.15
404859 Oro Fino Ridge Rock chip QV 6", str NW, SE dip, granite 80 5.32
404861 Oro Fino Ridge Rock chip QV 12” 80 6.01
404873 Oro Fino Ridge Dump grab Qtz vein colloform, banded 100 9.82
404875 Oro Fino Ridge Rock chip Granite & 1" Qtz Vein. 6” sample 50 2.69
404883 Summit Rock chip Kaolinized granite & 18"qV over 30” 60 1.12
404887 Summit Dump grab Qtz vein 80 3.77

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 have 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.

Contact:

Discovery Minerals Ltd.

Info@discoveryminerals.com


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