Discovery Announces the Submission of its Environmental Impact Assessment for its Cordero Project
Discovery Announces the Submission of its Environmental Impact
Assessment for its Cordero Project
August 31, 2023, Toronto, Ontario - Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery”
or the “Company”) is pleased to announce it has formally submitted for evaluation its Environmental Impact
Assessment (Manifestacion de Impacto Ambiental or “MIA”) for its Cordeo silver project (“Cordero” or “the
Project”) located in Chihuahua State, Mexico. The submission was made to Secretaría de Medio Ambiente
y Recursos Naturales (“SEMARNAT”), the federal government agency responsible for evaluating MIA
submissions. The MIA is one of the principal permits required for the development of Cordero and
encapsulates extensive social and environmental work programs completed by the Company’s team in
Mexico since 2020 in parallel with multiple reviews by third-party consultants.
Tony Makuch, CEO, states: “The submission of our MIA represents a major milestone for the Company.
The submission is supported by comprehensive environmental and social baseline assessment work and
outlines detailed plans for the responsible and sustainable development of the Cordero Project. The
Project is expected to have significant positive direct and indirect socioeconomic impacts within Mexico at
local, regional and national levels with an expected peak local workforce of over 1,000 employees, direct
tax revenues of approximately US$1.2 billion and over US$4 billion of expected goods and services
purchased locally within Mexico over its 18-year mine life as per our Preliminary Feasibility Study. We look
forward to working with SEMARNAT through the permitting review process to demonstrate our full
compliance with Mexican regulatory requirements alongside our overarching commitment to meet the
highest industry standards for environmental protection, social responsibility and health and safety.”
CIMA Consultores Ambientales (“CIMA”), an experienced Mexico- based environmental permitting
consultant, was the principal author of the MIA submission. The MIA incorporated environment and social
evaluation baseline studies completed by CIMA and Vinfidem Consultants respectively, with data collected
through the 2021 – 2022 period. A third-party review of the Company’s sustainability practices was also
completed by Environmental Resources Management, Inc. (“ERM”), a global expert in environmental,
health, safety, risk and social issues. Ausenco Engineering Canada Inc. (“Ausenco”), AGP Mining
Consultants Inc., Knight Piésold Ltd., WSP Global Inc. and Blue Coast Research Ltd. also provided input
in key technical areas.
The Company has demonstrated a proactive approach to date to its sustainability practices as
demonstrated by the recent r eceipt of the prestigious Socially Re sponsible Enterprise (Empresa
Socialmente Responsable) (ESR) distinction from the Mexican Centre for Philanthropy (Centro Mexicana
para la Filantropía) (CEMEFI) and the Great Place to Work Certification, an internationally recognized
program awarded to com panies that create an outstanding employee experience. The Company looks
forward to building on these efforts through expanded social programs during development and operations
and to realizing the sustainable benefits that come with a sizeable work force of over 1,000 employees
during the construction phase and long-term direct employment of 900 people when the phase two
expansion is complete. It is anticipated that a large majority of employees will come from local communities
NEWS RELEASE
in the Parral municipality given an already significant mining industry presence in the region and the
existence of a mining-focused technical university located in the town of Parral.
The development and operation of Cordero will also create significant long-term business opportunities for
local, regional and national service providers and suppliers at what will be one of the largest mining projects
in Mexico. In total there will be an expected US$4 billion of goods and services purchased locally within
Mexico over the life of the mine. This will provide the opportunity to expand supply chains for critical
strategic minerals in Mexico with the potential for sizeable volumes of long-term base metals concentrate
supplies for Mexican smelters. In addition, the Project is expected to contribute more than US$1.2 billion
in direct mining taxes and royalties to the Mexican government. Combined, these benefits create a strong
basis for government support of long-term investment for the responsible development of Cordero to the
benefit of all stakeholders.
The Company is also committed to employing global best practice standards for the management of its
environmental programs over the life of the project. A reflection of this commitment is the recent receipt of
the Environmental Quality Certification issued by the Federal Attorneys for E nvironmental Protection
(PROFEPA) in recognition of the Company’s compliance with the National Environmental Audit Program.
For Project operations, tailings storage facilities have been designed in adherence with the Global Industry
Standard on Tailings Management requirements. Responsible water use has also been a key area of focus
with the use of treated wastewater from local municipalities currently under evaluation. This is expected to
result in minimal reliance on groundwater sources. A detailed closure and reclamation plan designed by
CIMA in conjunction with technical input from Ausenco, Knight Piésold Ltd. and WSP Global Inc. was also
included with the submission.
Further information on the Company’s current Environment, Social and Governance (“ESG”) practices and
priorities going forward can be found in its 2022 ESG report: Discovery Silver ESG report
Further information on the technical aspects of the Co rdero project can be found in the Company’s
Preliminary Feasibility Study issued in January 2023: Cordero PFS
About Discovery
Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits.
The PFS completed in January 2023 demonstrates that Cordero has the potential to be developed into a
highly capital efficient mine that offers the combination of margin, size and scalability. Cordero is located
close to infrastructure in a prolific mining belt in Chihuahua State, Mexico.
On Behalf of the Board of Directors,
Tony Makuch, P.Eng
President, CEO & Director
For further information contact:
Forbes Gemmell, CFA
VP Corporate Development
Phone: 416-613-9410
Email: [email protected]
Website: www.discoverysilver.com
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