MURPHY, Idaho, Aug. 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Discovery Minerals LTD (OTCQB: DSCR) is an acquisition and development company that targets natural resource properties primarily in precious metals and mining operations. Discovery Minerals LTD is pleased to announce the results of its first reconnaissance rock sampling program. The program targeted the Oro Fino vein system and samples were collected from available exposures of both the footwall and hanging wall veins as well as various other potential gold and silver bearing materials associated with the previous mining.
These assays are consistent with the previous report by Geoff Boswell of Underhill Associates, with up to 15.9 grams per ton gold (half ounce per ton) and a ratio of 20:1 of silver to gold. The Board of Directors of DSCR is pleased that given the quality of the sampling from the potential ore zones combined with the increase in gold prices, the yield from the target zone is expected to coincide with the original mining plan.
The assay results were from a set of 48 reconnaissance samples from War Eagle Mountain that have been recently received. Overall the samples averaged 2.67 ppm Au and 53.9 ppm Ag and ranged up to 15.9ppm Au and 493 ppm Ag. Forty-three samples were taken from the Oro Fino reef zone or associated waste material and these averaged 2.94 ppm Au and 58.4 ppm Ag. Of the 43 Oro Fino samples 37 samples (86%) are greater than 0.5ppm Au (see table below). Some of the lesser mineralized samples were host rock material, as was expected. The table is presented from the southern Mahogany area to the northernmost area at the Cape Horn. Gold and silver mineralization are present throughout the length of the Oro Fino vein.
Outcrop and sub-crop samples from the Oro Fino vein system yielded widespread potentially economic mineralization with 15 of 24 for these types of samples being greater than 1 Gm / per ton Au and four of these samples ranging between 5.25 and 15.9 ppm Au, including one sample with 493 ppm Ag.
The program included a series of waste dump samples that aimed to assess waste dump potential for processing and gold extraction as a means of early cash flow. A composite grab sample was taken for each of these dumps and then a selected quartz vein sample was taken. These paired samples may indicate the potential for upgrading the waste dump resources by either screening or screening and optical ore-sorting. The average for the six composite samples is 1.15 ppm Au & 32 ppm Ag, whereas the hand selected quartz samples averaged 3.88 ppm Au & 80 ppm Ag, which is an encouraging result. Further tests will be carried out aimed at establishing a method of waste dump upgrading or beneficiation.
Overall the sampling has demonstrated that the Oro Fino vein system is mineralised on both the hanging wall (east) and footwall (west) veins for a length of approximately 4000’. The results are a positive step toward developing a shallow potentially mineable gold and silver resource as a short to medium term goal for the company with considerable scope for deeper exploration and possible mining in due course.
Further assays are expected and a drill program is being designed that will address drilling the entire length within the shallower portion of the Oro Fino vein system.
| Sample ID | Order | Zone | Vein | Type | Qtz % | Au ppm | Ag ppm | Notes |
| MAH01 | 1 | Mahogany | Oro Fino | Dump grab | 100 | 4.22 | 95 | |
| MAH02 | 1 | Mahogany | Oro Fino | Rock chip | 80 | 3.53 | 68 | |
| MAH03 | 1 | Mahogany | Oro Fino | Rock chip | 80 | 2.19 | 5 | |
| MAH04 | 1 | Mahogany | Oro Fino | Rock chip | 80 | 1.89 | 6 | |
| MAH05 | 1 | Mahogany | Oro Fino | Rock chip | 80 | 3.30 | 37 | |
| MAH06 | 1 | Mahogany | Oro Fino | Dump grab | 10 | 0.56 | 26 | |
| SUM01 | 2 | Summit | Oro Fino West vein | Rock chip | 45 | 0.71 | 22 | |
| SUM02 | 2 | Summit | Oro Fino West vein | Float grab | 100 | 15.90 | 68 | |
| SUM03 | 2 | Summit | Oro Fino West vein | Dump grab | 90 | 6.04 | 68 | |
| CUM01 | 3 | Cumberland | Oro Fino | Dump grab | 100 | 4.00 | 263 | |
| CUM02 | 3 | Cumberland | Oro Fino | Dump grab | 5 | 0.11 | 344 | Host rock |
| CUM03 | 3 | Cumberland | Oro Fino | Dump grab | 0 | 0.01 | 12 | Host rock |
| CUM04 | 3 | Cumberland | Oro Fino | Dump grab | 1 | 1.08 | 50 | |
| CUM05 | 3 | Cumberland | Oro Fino West vein | Float grab | 90 | 0.08 | 9 | |
| CUM06 | 3 | Cumberland | Oro Fino West vein | Float grab | 90 | 0.11 | 12 | |
| CUM07 | 3 | Cumberland | Oro Fino West vein | Rock chip | 40 | 0.92 | 20 | |
| CUM08 | 3 | Cumberland | Oro Fino West vein | Rock grab | 90 | 2.97 | 9 | |
| CUM09 | 3 | Cumberland | Oro Fino East vein | Float grab | 100 | 13.65 | 493 | |
| CUM10 | 3 | Cumberland | Oro Fino | Float grab | 90 | 7.03 | 50 | |
| CUM11 | 3 | Gold Chariot | Oro Fino | Rock chip | 15 | 0.14 | 5 | |
| ORO01 | 4 | Oro Fino | Oro Fino East vein | Rock chip | 90 | 1.53 | 10 | |
| ORO02 | 4 | Oro Fino | Oro Fino East vein | Rock chip | 80 | 3.02 | 74 | |
| ORO03 | 4 | Oro Fino | Oro Fino East vein | Rock chip | 80 | 0.59 | 69 | |
| ORO04 | 4 | Oro Fino | Oro Fino East vein | Rock chip | 5 | 0.55 | 47 | |
| ORO05 | 4 | Oro Fino | Oro Fino East vein | Rock chip | 60 | 3.39 | 55 | |
| ORO06 | 4 | Oro Fino | Oro Fino | Dump grab | 10 | 1.34 | 24 | |
| ORO07 | 4 | Oro Fino | Oro Fino East vein | Rock chip | 90 | 1.73 | 88 | |
| ORO08 | 4 | Oro Fino | Oro Fino | Dump grab | 100 | 3.66 | 24 | |
| ORO09 | 4 | Oro Fino | Oro Fino | Dump grab | 90 | 11.75 | 133 | |
| ORO10 | 4 | Oro Fino | Oro Fino | Dump grab | 40 | 1.23 | 37 | |
| ORO11 | 4 | Oro Fino | Oro Fino | Dump grab | 100 | 1.68 | 18 | |
| ORO12 | 4 | Oro Fino | Oro Fino | Dump grab | 40 | 1.21 | 46 | |
| ORO13 | 4 | Oro Fino | Oro Fino | Dump grab | 100 | 3.66 | 36 | |
| ORO14 | 4 | Oro Fino | Oro Fino | Dump grab | 5 | 0.99 | 13 | |
| ORO15 | 4 | Oro Fino | Oro Fino | Dump grab | 100 | 7.43 | 46 | |
| ORO16 | 4 | Oro Fino | Oro Fino East vein | Rock chip | 60 | 0.94 | 13 | |
| ORO17 | 4 | Oro Fino | Oro Fino East vein | Rock chip | 50 | 0.14 | 14 | |
| ORO18 | 4 | Oro Fino | Oro Fino | Dump grab | 25 | 1.82 | 19 | |
| ORO19 | 4 | Oro Fino | Oro Fino | Dump grab | 100 | 2.26 | 20 | |
| ORO20 | 4 | Oro Fino | Oro Fino West vein | Rock chip | 90 | 1.33 | 15 | |
| CH101 | 5 | Cape Horn | Oro Fino West vein | Float grab | 100 | 5.25 | 19 | |
| CH102 | 5 | Cape Horn | Oro Fino East vein | Dump grab | 100 | 0.48 | 7 | |
| CH103 | 5 | Cape Horn | Oro Fino | Float grab | 100 | 2.19 | 23 |
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.
Contact:
Discovery Minerals Ltd.
Info@discoveryminerals.com