- Results received from 273 surface channel samples and one grab surface outcrop, all part of a detailed mapping and sampling program on three high potential areas at the Minerva project.
- At all three key mineralized areas, strong Ag-Zn-Pb grades of surface anomalies plus the dimensions of the corresponding areas suggest the presence of a robust carbonate replacement system.
- At Mina Minerva, one of the key areas, the anomalous area has been increased substantially, now at 1.5km long by 300m wide.
April 10, 2019, Toronto, Ontario – Discovery Metals Corp. (TSX-V: DSV) (“Discovery” or the “Company”) is pleased to announce the assay results of 273 surface samples from its Minerva project (“Minerva” or “the Project”) in Coahuila State, Mexico.
Gernot Wober, VP Exploration states, “Mapping and sampling of leakage mineralization typical of carbonate replacement deposits (“CRD”) in surface outcrop continues to demonstrate strong potential for a robust CRD / skarn system at depth on our Minerva project. The high-grade tenor of the sample results in these anomalous areas is very encouraging. The surface results in conjunction with pending underground sampling results and the interpretation of a completed airborne geophysical survey will help finalize our phase 1 drill planning.”
New results from the Mina Minerva area:
At the Mina Minerva area (“Mina Minerva”), a dominant northeast orientation of mineralization has been mapped and sampled consisting of narrow calcite stringers, oxidized veins and veinlets, narrow mantos and occasionally chimneys. At least four preferably mineralized or altered beds are recognized within the Santa Elena limestone formation. The most dominant mineralized bed trends northeast over 1km, mostly evident in the southern portion of the mapped area. The alteration and mineralization along this bed occurs as early moderate to strong silicification with overprinting hematite +/- goethite veinlets. A parallel trend 150m to the north exhibits early silicification and overprinted hematite +/- goethite veinlets as well and is covered to the southwest by alluvium. A different northeast trend closer to the contact with the quartz diorite intrusive occurs on the east side of the showing where mineralization is interpreted to be related to a shear zone 150-200m long. The fourth favorable zone at the Mina Minerva showing has strong Ag-Pb-Zn mineralization as 10-20m long mantos oriented northeast, parallel to the mineralized beds described above.
Surface sample results returned robust values suggesting a high-grade tenor for the distal source of the mineralization encountered. The assumption currently being made for the project is that these small and mostly narrow surface intervals of mineralization represent leakage anomalies to a larger mineralized body at depth. Based on the new results, the anomalous area at Mina Minerva has increased to approximately 1.5km long (from 700m) x 300m wide. Select surface sample results from leakage mineralization at Mina Minerva are presented below in Table 1.
Table 1: New surface sample results from the Mina Minerva area
|SAMPLE||WIDTH (M)||AG G/T||ZN %||PB %||CU %||AGEQ1 G/T||ZNEQ1 %|
New results from the Concordia area:
Surface sampling and mapping at the Concordia area (“Concordia”) has identified at least four linear trends of alteration and weak mineralization in narrow veinlets, altered narrow fault zones, breccias, and small mantos. The most prominent Ag-Pb-Zn veinlet and fracture mineralization is interpreted to be within a 300m east-west linear, limestone-hosted structural corridor and a 120m long northeast trending, quartz diorite-hosted tension gash. The total strike length of the tension gash is unknown due to alluvial cover. A 50m parallel tension gash hosted in the limestone exists to the west, and a fourth linear trend sits 75m north of the large east-west trending zone and can be traced for about 100m in a northeast direction. In total the anomalous area at Concordia is currently estimated to be 1km long x 300m wide. Select surface sample results from Concordia are presented below in Table 2.
Table 2: New surface sample results from the Concordia area
|SAMPLE||WIDTH (M)||AG G/T||ZN %||PB %||CU %||AGEQ1 G/T||ZNEQ1 %|
New results from the Tercia area:
Continued surface sampling at the Tercia area (“Tercia”) has encountered more robust mineralization in clay altered quartz diorite on surface. Tercia is currently characterized as a 275m x 150m at-surface altered and mineralized stockwork area with high silver and lead. Select surface sample results from Tercia are presented below in Table 3.
Table 3: New surface sample results from the Tercia area
|SAMPLE||WIDTH (M)||AG G/T||ZN %||PB %||CU %||AGEQ1 G/T||ZNEQ1 %|
For further information contact:
Discovery Metals Corp., #701 – 55 University Ave, Toronto, ON Canada M5J 2H7
On Behalf of the Board of Directors
Taj Singh, M.Eng, P.Eng, CPA
President, Chief Executive Officer, and Director
ABOUT DISCOVERY METALS
Discovery Metals is focused on discovering and advancing high grade polymetallic deposits in a recently assembled land package of approximately 150,000 hectares over a large and historic mining district in northern Coahuila State, Mexico. The portfolio of three large-scale, drill-ready projects and several earlier-stage prospects, all with shallow high-grade silver-zinc-lead mineralization, is situated in a world-class carbonate replacement deposit belt that stretches from southeast Arizona to central Mexico. The land holdings contain numerous historical direct-ship ore workings with several kilometers of underground development. No modern exploration or exploration drill testing has been ever been carried out on the properties prior to Discovery’s time on the projects.
About the Minerva project:
The Minerva project is located 230km west northwest of the city of Melchor Muzquiz in Coahuila State, Mexico, 30km west of the La Encantada silver mine owned by First Majestic Silver Corp., and within 20-100km of Discovery’s other projects. Minerva encompasses Ag-Pb-Zn mineralization hosted in skarns, mantos, chimneys and breccias similar to those found at La Encantada.
The Project is located within the Sabinas Basin which serves as depositional site for an approximately 6,000m thick section of Jurassic to Cretaceous siliciclastic, carbonate, and evaporitic rocks. The Sabinas Basin is bound by the regional San Marcos and La Babia faults and contains several important deposits of various styles (e.g. CRD and Mississippi Valley (MVT) Ag-Pb-Zn; evaporite-hosted barite / fluorite / celestine; and paleo-karstic Zn-Pb).
The Project is characterized by a sequence of thick-bedded limestones with black chert nodules of the Santa Elena formation, overlying the Washita group consisting of interbedded thin clayey and sandy limestones. Intruding this sedimentary package are numerous Tertiary diorite, quartz diorite, and andesites as stocks, sills and dikes. The regional northwest trending, symmetrical anticlines and synclines that form ranges and valleys were created by the compressive Laramide Orogeny during the Eocene which was followed by a relaxation period resulting in the basin and range morphology evident today.
Discovery is carrying out the first significant modern exploration program on three main areas of historical workings, known as Mina Minerva, Concordia and Tercia. All three areas have been subject to artisanal mining, with the most extensive historical workings at Mina Minerva.
About the Mina Minerva area:
Peñoles (Industrias Peñoles S.A.B. de C.V.) built a mine and processing plant at Mina Minerva in the 1940’s and produced an unknown quantity of ore from shallow underground workings before turning its attention to La Encantada in the 1960s. The area has two abandoned shafts, one of which is 40m deep, several large mine dumps, underground workings, and the foundations of historical surface facilities.
Mina Minerva lies south along trend with Concordia and continues under alluvial cover to the south. The prospect has a 1,500m long contact of skarn / skarnoid on its east extent which extends 300m in width before plunging under alluvial cover to the north. Mineralization is mainly replacement-style hosted within recrystallized limestone, dominantly as mantos of iron oxides, siderite associated with goethite and hematite, zinc oxides and silver-rich lead sulphates and calcium carbonates. These thin bedding-parallel mineralized bodies tend to have preferred orientations as northwest and northeast trending lenses and likely represent “leakage” or “fugitive” anomalies from a larger mineralized body at depth.
About the Concordia area:
Concordia lies north of and along trend with Mina Minerva, along the western edge of the Minerva intrusive complex. Mineralized skarn along the intrusive contact strikes under alluvial cover and may be offset by a fault along its east edge. Concordia consists of an argillized diorite dyke intruded along a propylitic altered biotite monzonite contact with extensive marble-garnet skarn developed in the surrounding Santa Elena limestone formation. Mineralization is predominantly manifested within fault and fracture zones as calcite-siderite veinlets, trace galena, and iron oxidation. Entirely within the sandy limestones of the Santa Elena formation, mineralization also occurs as mantos, gossans, and stockwork. Zinc occurs primarily as oxides whereas lead and silver are mainly found in a calcite-galena stockwork. Mineralization is exposed in a zone about 1km long and 300m in width, plunging under alluvial cover to the north. East and northeast trending narrow mineralized mantos, veinlets and stockwork encountered are typical of “leakage” or “fugitive” mineralization found above carbonate replacement type deposits.
About the Tercia area:
Tercia is located at the northeastern extent of an intrusive complex, along a skarn-altered zone at the contact between diorite and biotite monzonite and host Santa Elena Formation limestones over a 2km-long section of exposed contact. Mineralization consists of stockworks of galena, sphalerite, and minor chalcopyrite in association with calcite, quartz, and limonite. Anglesite (Pb sulphate), cerrusite (Pb carbonate) and some iron-rich gossan are also present. Silver minerals include cerargyrite and native silver. The principal target is a galena stockwork zone 275m by 150m in area and hosted primarily in strongly clay altered quartz diorite. Mineralization also exists within narrow low angled brecciated faults present in the quartz diorite that contain abundant iron oxides, sporadic narrow galena veins and strong clay alteration.
For a full table of results, maps and graphics related to this news release, please refer to:
Surface sampling results previously released on May 17, 2018 can be found at the following link:
1 All numbers in this news release are rounded and assays are uncut and undilute. ZnEq and AgEq calculations are based on USD $17/oz Ag, $1.50/lb Zn, $1.00/lb Pb, $3.00/lb Cu and do not consider metallurgical recovery.
Sample analysis and QA/QC Program: The rock chip and channel samples were taken perpendicular to mineralization, with variable length (across width of mineralization, typically 0.5m-2.5m) and a minimum channel thickness of 60mm and minimum channel depth of 30mm. The entire volume of each chip or channel sample was transported from site by ALS and prepared at the ALS lab facilities in Zacatecas and Chihuahua facilities, with splits of pulps shipped to the ALS lab in Vancouver for analysis. Samples were analyzed for gold using (1) a standard fire assay with a 30-gram pulp and Atomic Absorption (AA) finish for gold; and (2) Thirty-element inductively coupled plasma atomic emission spectrometry (“ICP-AES”). Over limit sample values were re-assayed for: (1) values of zinc > 10%; (2) values of lead > 10%; and (3) values of silver > 100 g/t. Samples were re-assayed using the ME-OG62 (high-grade material ICP-AES) analytical package. For values of zinc or lead greater than 30%, a third re-assay using the Zn-VOL50 or Pb-VOL50 (potentiometric titration) analytical method was used while values of silver greater than 1,500 g/t, were re-assayed using the Ag-CON01 analytical method, a standard fire assay with 30g pulp and gravimetric finish. Certified standards and blanks were routinely inserted into all sample shipments to ensure integrity of the assay process.
Qualified Person: Gernot Wober, P.Geo, V.P. Exploration, Discovery Metals Corp., 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 (“NI 43-101”) and has reviewed and validated that the information contained in this news release is accurate.
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, delays in receipt of required permits, 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.