First Phase for the Gold and Silver Project on War Eagle Mountain Scheduled to be Completed by end of April, 2019
Phoenix, Arizona, Jan. 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Discovery Minerals LTD (OTC PINK:DSCR) is an acquisition and development company that targets natural resource properties primarily in precious metals and mining operations. The Board of Discovery Minerals is pleased to announce the formal launch of its mining program on the gold and silver mining War Eagle Mountain Property in Idaho. The first phase has already commenced where the Company has commissioned a series of reports on the Project by experts in the fields of Geology, Surveying, Mining Engineering and Mill engineering. These reports are expected to be completed by the end of April and are necessary to prepare a mining plan and begin physical preparations for mining.
The War Eagle Mountain Project is the easternmost gold dome on the Owyhee Gold Trend of the Silver City Mining District in southern Idaho. This is a 5 mile east-west trending mining area, which includes War Eagle Mountain, Florida Mountain and DeLamar Mountain. The primary gold and silver veins on War Eagle Mountain are the “Oro Fino”, “Central” and the “Poorman”. The “Oro Fino” vein system extends at least 12,000 feet long and has 6 other major veins associated with it, while the “Central” and “Poorman” have approximately 40 offshoots associated with them. Based upon studying the voluminous data on the mined area, the Company Geologist commented, “There is plenty of scope for more ore on the main veins and probably scope for an open pit mine on the North West (“NW”) veins between them. North trending veins, like Poorman and Oro-Fino/Golden Chariot, are probably the main controlling faults and are mineralized. They have generated a NW trending vein set between them that taps the hydrothermal fluids from below, being generated by a porphyritic quartz diorite which is responsible for the Tertiary volcanic sequence.”
The adjacent Florida and DeLamar Mountains were formerly mined by Kinross Gold Corporation, producing approximately $1.8 billion in gold and silver production. The Chief Geologist for Kinross, while in service at the nearby DeLamar Mountain open pit Operation, observed several years ago, “My experiences at Florida & DeLamar Mountains dictate that any new exploration ventures should be focused on the War Eagle Mountain if a large scale project is the desired goal in this mining district.” These and other similar opinions expressed by technically qualified personnel lead the Directors of Discovery Minerals Ltd. to be very optimistic about entering into an economic gold and silver production operation in a relatively short time. Specific ore positions are already targeted to be mined.
Russell Smith, CEO of Discovery Minerals, stated, “This production focus is the culmination of years of work on a project that we expect will produce positive results for many years to come. In the most simple terms, the best place to find a new gold mine is adjacent to an existing proven mine resource. War Eagle Mountain lies directly in a massive mineralized fault line in southern Idaho which has produced extraordinarily rich results in the adjacent properties. There has never been large scale mining operations at the War Eagle Mountain utilizing modern state of the art equipment and mining techniques. Much of the mining was in the 1860s and 1870s, when miners had only basic equipment to drive through very tough rock. Picks and shovels were used plus only hammers and handsteel were used to bore blast holes. Clearly the rich gold was a great incentive. We are confident in our ability to fully develop this tremendous resource from both narrow vein and open pit mining operations. We look forward to reporting on the progress of this project as we move forward developing and implementing our mining plan.”
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 be continued with an 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.
Authorized by Russell Smith, CEO.