Discovery Metals Announces up to 8,880 G/T Silver, 41.6% Zinc, and 43.2% Lead IN High-Grade Channel Samples from Historical Underground Workings at the Minerva Project
DISCOVERY METALS ANNOUNCES UP TO 8,880 G/T SILVER, 41.6%
ZINC, AND 43.2% LEAD IN HIGH-GRADE CHANNEL SAMPLES FROM
HISTORICAL UNDERGROUND WORKINGS AT THE MINERVA
PROJECT
Highlights:
• First-ever documented underground channel sampling program at the Minerva
Project.
• At the Mina Minerva area, 78 samples were taken; 53 samples (68%) returned grades
greater than 500 g/t AgEq, averaging 1,804 g/t AgEq.
• Select samples include:
− 0.4 m of 8,880 g/t Ag, 8.7% Zn, 43.2% Pb, 2.3% Cu (11,420 g/t AgEq1)
− 0.6 m of 2,429 g/t Ag, 2.5% Zn, 32.3% Pb, 0.24% Cu (3,907 g/t AgEq1)
− 1.0 m of 34 g/t Ag, 37.8% Zn, 3.0% Pb (2,438 g/t AgEq1 or 40.4% ZnEq1)
− 1.4 m of 131 g/t Ag, 22.2 % Zn, 2.7% Pb (1,586 g/t AgEq1 or 26.3% ZnEq1)
− 1.0 m of 190 g/t Ag, 10.6% Zn, 7.7% Pb, 0.11% Cu (1,150 AgEq1)
− 0.9 m of 517 g/t Ag, 5.7% Zn, 3.3% Pb, 0.07% Cu (1,000 g/t AgEq1)
• Geophysics results are being finalized and preparation for the Project’s first drill
program ever is underway.
August 8, 2019, Toronto, Ontario - Discovery Metals Corp. (TSX-V: DSV) (“Discovery” or the
“Company”) is pleased to announce assay results of 112 underground samples from its drill-
permitted Minerva Ag-Zn-Pb project (“Minerva” or “the Project”) in Coahuila State, Mexico.
Three key underground areas were sampled: Mina Minerva, Concordia and Tercia.
Gernot Wober, VP Exploration stated, “The first-ever documented underground results from the
historic mines at Minerva were impressive. Mapping and sampling of the underground workings,
in addition to surface work completed previously, continues to indicate that the mineralizing
system is very high grade. The current results are extremely positive and support the drilling
program that we plan to initiate later this year, the first drilling the Project has ever seen.”
First underground results from Mina Minerva:
At Mina Minerva, underground workings consist of approximately 460 metres (“m”) of lateral
development and two vertical shafts, 30 m and 59 m deep, respectively. Seventy-eight samples
were taken , d ominantly representing manto and vein mineralization encountered during
mapping; sixty-two of these samples returned grades higher than 150 grams per tonne silver
equivalent (“g/t AgEq1) with an average grade of 1,594 g/t AgEq1. Fifty-three of these samples
returned grades higher than 500 g/t AgEq1 with an average grade of 1,804 g/t AgEq1.
NEWS RELEASE
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The top 40 underground channel sample results by AgEq1 from Mina Minerva are listed below in
Table 1.
Table 1: Underground sample results from the Mina Minerva area
Sample
number
Width
(m)
Ag
(g/t)
Zn
(%)
Pb
(%)
Cu
(%)
AgEq1
(g/t)
ZnEq1
(%)
Mineralization
type
118877 0.4 8,880 8.7 43.2 2.30 11,420 n/a Vein
118821 0.2 2,600 10.7 38.5 0.38 4,842 80.2 Fault
118949 0.6 2,429 2.5 32.3 0.24 3,907 64.7 Veinlets
118840 0.3 1,200 24.8 18.2 0.15 3,448 57.1 Vein
118832 0.2 1,340 20.8 19.6 0.11 3,398 56.3 Vein
118831 0.3 1,485 8.6 32.1 0.10 3,309 54.8 Manto
118939 0.3 1,415 14.4 24.1 0.10 3,268 54.1 Manto
118908 0.3 1,145 10.8 34.8 0.10 3,209 53.1 Manto
118941 0.4 1,465 6.4 28.5 0.21 3,027 50.1 Fault
118834 0.3 310 41.6 3.9 0.04 2,981 49.4 Manto
118905 0.5 220 34.6 13.2 0.05 2,844 47.1 Manto
118827 0.3 1,465 3.8 22.2 0.25 2,619 43.4 Manto
118843 0.2 1,425 7.7 16.4 0.29 2,584 42.8 Manto
118906 0.3 19 40.8 1.3 0.06 2,545 42.2 Manto
118901 0.4 1,060 5.8 26.4 0.11 2,487 41.2 Manto
118902 0.2 335 33.4 2.8 0.09 2,473 41.0 Manto
118879 0.2 1,180 5.1 22.9 0.36 2,453 40.6 Vein
118909 1.0 34 37.8 3.0 0.04 2,438 40.4 Limestone
118833 0.2 378 27.1 2.5 0.03 2,117 35.1 Vein
118835 0.3 630 13.9 13.5 0.09 2,023 33.5 Manto
118904 0.5 396 18.9 11.4 0.05 2,000 33.1 Manto
118822 0.4 791 11.4 10.2 0.14 1,906 31.6 Fault Zone
118919 0.2 1,035 10.9 4.7 0.07 1,890 31.3 Manto
118828 0.6 624 12.9 7.6 0.08 1,718 28.5 Manto
118824 0.2 79 26.3 1.0 0.03 1,711 28.3 Manto
118915 0.6 195 23.4 2.3 0.05 1,705 28.2 Manto
118938 0.3 470 15.5 6.6 0.07 1,679 27.8 Manto
118912 1.4 131 22.2 2.7 0.04 1,586 26.3 Manto
118820 0.3 172 17.4 6.4 0.04 1,483 24.6 Fault
118814 0.3 223 8.1 18.3 0.15 1,466 24.3 Manto
118815 0.3 624 10.5 4.8 0.05 1,455 24.1 Manto
118823 0.3 303 12.4 7.0 0.11 1,344 22.3 Manto
118825 0.3 474 4.5 11.3 0.13 1,216 20.1 Manto
118918 0.5 148 12.8 6.1 0.08 1,174 19.4 Manto
118943 1.0 190 10.6 7.7 0.11 1,150 19.0 Fault
118945 0.3 541 3.2 8.5 0.06 1,086 18.0 Fault
118923 0.8 287 8.7 6.1 0.10 1,069 17.7 Manto
118916 0.2 255 10.2 3.8 0.04 1,030 17.1 Manto
118819 0.7 279 1.4 16.2 0.08 1,027 17.0 Fault
118844 0.9 517 5.7 3.3 0.07 1,000 16.6 Vein
A large number of samples that returned >1,000 g/t AgEq1 are contiguous along the same
trends and orientations. These results indicate a very high grade and continuous tenor for the
mineralizing system represented in these workings.
Manto m ineralization strikes both northwest and east -west with 18 to 28 degree north to
northeast dips. The mantos are up to 1m thick within strongly recrystallized limestone and
consist of mainly goethite, minor hematite, and scarce jarosite. Pervasive white to light brown
calcite, fine iron oxide boxwork after sulfide veinlets and rare malachite s taining, stratiform
galena bands and erratic galena clumps or nodules are also present locally, as well as sporadic
chalcedonic quartz in the limestone, hinting at a possible late -stage mineralizing event.
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Narrower mineralized bodies (small mantos) are parallel to the hangingwall and footwall of the
main manto, and often join the main manto along strike. This form of mineralization shows that
potential for parallel or s tacked mineralization exists within the limestone host. Locally, fault
zones contain minor mineralized breccia zones.
First underground results from Concordia:
Two historic underground workings were accessed within the Concordia area for mapping and
sampling purposes, including El Buitre mine and El Jabali mine. A total of 27 channel samples
were taken to represent the mineralization encountered. The highest-grade silver value was 848
g/t (including 2.7% Zn, 12.5% Pb, 0.24% Cu) representing a 0.7m channel sample in limestone
on the west wall of the main access in the El Buitre Mine. Thirteen samples returned grades
higher than 150 g/t AgEq 1 with an average grade of 508 g/t AgEq1. In addition, f ive of these
samples returned assays greater than 500 g/t AgEq1 with an average grade of 803 g/t AgEq1.
The top 10 underground channel sample results by AgEq 1 from Concordia are listed below in
Table 2.
Table 2: Underground sample results from the Concordia Area
Sample
number
Width
(m)
Ag
(g/t)
Zn
(%)
Pb
(%)
Cu
(%)
AgEq1
(g/t)
ZnEq1
(%)
Mineralization
type
118958 0.7 848 2.7 12.5 0.24 1,540 25.5 Limestone
118884 0.8 320 0.0 13.0 0.06 851 14.1 Vein
118956 0.4 328 1.3 6.7 0.07 686 11.4 Limestone
118883 0.5 450 0.2 4.8 0.07 663 11.0 Vein
118964 0.8 57 8.1 1.2 0.03 597 9.9 Limestone
118893 1.1 267 0.4 6.3 0.06 555 9.2 Vein
118962 0.6 206 1.7 4.5 0.08 497 8.2 Limestone
118959 0.5 207 2.2 2.6 0.04 445 7.4 Limestone
118961 0.9 20 5.4 2.3 0.04 443 7.3 Limestone
118963 0.4 48 2.4 2.1 0.02 277 4.6 Limestone
El Buitre mine contains approximately 55 m of tunnels in mineralized wall rock containing veins
and breccias , with m ineralization dominated by goethit e mixed with light brown calcium
carbonates and erratic calcite veinlets.
El Jabali mine represents a 15x15 m, steeply inclined excavation with two cross cuts and a 9 m
vertical shaft to surface within limestone and quartz diorite. Most of the mineralization at the El
Jabali mine is in the form of veins , with one breccia identified. Vein mineralogy is dominat ed by
strong goethite mixed with light brown carbonates, sporadic spec ks of galena, and intermittent
brecciated intervals.
First results from underground at Tercia:
One small underground working within quartz diorite was accessed at the Tercia area. A total of
seven samples returning grades greater than 150 g/t AgEq with an average of 417 g/t AgEq
were taken from brecciated zones , likely representing faults within the diorite . Three of these
samples returned grades greater than 500 g/t AgEq with an average grade of 620 g/t AgEq.
All seven of the underground channel sample results by AgEq 1 from Tercia are listed below in
Table 3.
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Table 3: Underground sample results from the Tercia area
Sample
number
Width
(m)
Ag
(g/t)
Zn
(%)
Pb
(%)
Cu
(%)
AgEq
(g/t)
ZnEq
(%)
Mineralization
type
118974 0.5 226 0.2 15.5 0.02 867 14.4 Breccia
118971 0.5 181 0.2 10.0 0.01 597 9.9 Breccia
118968 1.3 124 3.2 6.1 0.01 563 9.3 Breccia
118973 0.7 103 0.2 7.7 0.01 424 7.0 Breccia
118972 0.9 93 0.3 5.4 0.01 328 5.4 Fault
118967 1.0 51 1.2 2.9 0.01 238 3.9 Breccia
118969 0.5 40 0.3 2.7 0.01 166 2.8 Breccia
The mineralized breccias consist of weak goethit e, scarce hematic stringers, abundant calcite
and variable amounts of galena spots and veinlets.
All channels reported in this release, from all areas, were chip -cut perpendicular to
mineralization, and s ampling locations and channel widths were restricted to the extent of
historic workings. Please see the References section below for access to graphics related to
this news release.
For further information contact: Discovery Metals Corp., #701 - 55 University Ave, Toronto, ON
Canada M5J 2H7, [email protected].
On Behalf of the Board of Directors
“Taj Singh”
Taj Singh, M.Eng, P.Eng, CPA
President, Chief Executive Officer, and Director
About the Minerva project
The Minerva project is located 230 km west northwest of the city of Melchor Muzquiz in
Coahuila State, Mexico, 30 km west of the La Encantada silver mine (“La Encantada”) owned by
First Majestic Silver Corp., and within 20-100 km of Discovery’s other projects in Coahuila State.
Minerva encompasses Ag -Pb-Zn mineralization hosted in skarns, mantos, chimneys and
breccias similar to those at La Encantada.
The project is located within the Sabinas Basin that serves as depositional site for an
approximately 6,000 m 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 important deposits of Mississippi Valley Type ( “MVT”), evapor ite hosted barite,
fluorite, and celestine, paleo-karstic Zn-Pb, and carbonate replacement deposits.
The Minerva 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 interbed thin
clayey and sandy limestones. Intruding this sedimentary package are numerous Tertiary diorite,
quartz diorite, and andesit es as stocks, sills and dikes. The regional northwest trending,
symmetrical anticlines and synclines that form ranges and valleys were created by the
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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 zones of
historical workings and mineralization called La Tercia, Concordia, and Minerva. All three
locations have been subject to artisanal mining, with the most extensive historical workings in
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.
For more information on the Minerva project, please refer to previous news releases located at:
https://dsvmetals.com/projects/minerva/.
ABOUT DISCOVERY METALS
Discovery is exploring one of the world’s largest silver resources at its 100% -owned Cordero
Project in Chihuahua State, Mexico. The 37,000 hectare property covers an entire porphyry
district that hosts the announced resource and numerous exploration targets for bulk tonnage
diatreme-hosted, porphyry-style, and carbonate replacement deposits. In addition, Discovery is
focused on discovering and advancing high- grade silver-zinc-lead deposits in a land package
of approximately 150,000 hectares covering a historic mining district in Coahuila State, Mexico.
The portfolio of three large -scale, drill-ready projects and several earlier -stage prospects, all
with shallow , high-grade 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, but there was no modern exploration or drill testing on the properties prior to the
work carried out by Discovery.
REFERENCES
1 All numbers in this news release are rounded and assays are uncut and undiluted . AgEq and
ZnEq calculations are based on USD $17/oz Ag, $1.50/lb Zn, $1.00/lb Pb, and do not consider
metallurgical recovery.
2 Graphics associated with this news release can be found at:
https://dsvmetals.com/site/assets/files/5035/2019-08-nrappendix-minerva.pdf
TECHNICAL NOTES
Sample analysis and QA/QC Program: The rock chip and channel samples were taken
perpendicular to mineralization, with variable length (across width o f mineralization, typically
0.5-2.5 m) and a minimum channel thickness of 60 mm and minimum channel depth of 30 mm.
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
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assay with a 30 g 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 30 g 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 obli gation
to update any forward-looking statements except as required under applicable laws.
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