Discovery Metals Reports High-Grade Surface Channel Samples From Its Monclova Project, With Values Up to 962 g/t Silver, 23.2% Zinc and 16.2% Lead
Discovery Metals Reports High-Grade Surface Channel Samples From Its
Monclova Project, With Values Up to 962 g/t Silver, 23.2% Zinc and 16.2% Lead
Highlights
• First-ever modern surface exploration results from the Monclova project, a composite intrusive complex
flanked by several artisanal mining districts. A total of 311 channel samples were taken from outcrops and
surface workings.
• Two key types of mineralization are present: Ag-Pb-Zn carbonate replacement (CRD) / skarn mineralization
and Cu-Au skarn mineralization.
• Real Viejo (“RV”) is the key Ag-Pb-Zn target, returning strong and consistent geochemical results.
Mineralization at RV is predominantly contained in breccia veins and mantos; the average grade of all
breccia veins and mantos at RV, representing 69 samples, was 148 g/t Ag and 5.5% Zn+Pb (454 g/t AgEq or
7.5% ZnEq).
• Several Cu-Au skarn targets showed potential and warrant follow-up work, e.g. at the Soledad area, results
from the ten best channel samples averaged 1.5 g/t Au and 1.5% Cu, with high values of 7.9 g/t Au and 6.9%
Cu.
TORONTO, June 06, 2018 -- Discovery Metals Corp. (TSX-V:DSV) ("Discovery" or the "Company") is pleased to announce
that it has received assay results for 311 channel samples from its Monclova project (“the Project”) in Coahuila State, Mexico.
Taj Singh, P.Eng, President and CEO stated, “First assay results from our Monclova sampling program were outstanding and
they illustrate the strong potential of several target areas on the Project. Real Viejo in particular shows impressive grades and
continuity over a large prospective area. For the next two months we will continue to systematically explore and test Monclova
through mapping, sampling and geophysics, and plan for drilling in Q3.”
About the Monclova project
The Monclova project covers a large and highly prospective composite stock located 25km southwest of the city of Monclova
in central Coahuila state, Mexico. The Monclova intrusive complex has numerous mineral prospects within and surrounding the
12km-sq composite intrusive stock. Local miners have historically mined Ag-Pb-Zn and Cu-Au-Fe which are hosted primarily
in mantos, veins and skarns.
Discovery is carrying out the first significant modern exploration program on the Project. For a location map of the Monclova
project, please see References section below for link.
Real Viejo
The Real Viejo (“RV”) area, approximately 2km-sq in size, is located on the southern contact of the Monclova intrusive
complex in an area of permeable, Lower Aurora Formation impure limestones, that form a series of mineralized, skarn-altered
embayments. Past workings in several locations have exploited Ag-Pb-Zn mineralization.
At RV, the southern contact of the intrusion is cut by a strong northeast-southwest-oriented series of Ag-Pb-Zn mineralized
structures. Mineralization occurs primarily as very fine grains of sulphides (sphalerite, galena and possibly argentite) mixed
with oxides of zinc (hydrozincite and smithsonite) and lead (cerrusite and plumbojarosite). Mineralization is located both at the
intrusive-limestone contact and in limestone away from the contact, as breccia veins and mantos.
The results from the 15 best channel samples from the RV area are shown below:
Sample Width (m) Ag g/t Pb % Zn % Zn+Pb % ZnEq %* AgEq g/t* Minz. type
223659 1.2 240 1.4 11.4 12.8 16.3 987 breccia
223660 1.5 611 1.9 6.1 8.0 17.5 1056 breccia
223661 1.5 747 0.8 9.0 9.7 21.9 1321 breccia
223666 1.2 962 7.2 16.2 23.3 36.9 2229 breccia
223675 1.4 211 6.9 8.9 15.8 17.0 1027 breccia
223688 1.0 280 1.9 16.8 18.7 22.7 1371 breccia
223689 0.9 493 2.4 6.0 8.4 15.8 952 breccia
223690 0.7 363 1.6 8.6 10.3 15.8 951 breccia
223696 1.0 322 1.0 23.7 24.7 29.7 1795 breccia
223697 1.0 151 1.6 15.0 16.6 18.6 1121 breccia
223725 0.8 151 5.2 8.8 14.0 14.8 893 manto
223727 0.8 72 1.2 13.3 14.4 15.2 920 manto
223809 1.2 561 1.0 9.7 10.7 19.7 1190 breccia
223810 0.3 69 0.7 40.2 40.9 41.9 2532 manto
223812 0.4 276 3.4 6.2 9.6 13.1 790 manto
Notes: all numbers are rounded; assays are uncut, undiluted; *ZnEq and AgEq are based on US$17/oz Ag, $1.50/lb Zn,
$1.00/lb Pb and do not consider metallurgical recovery.
RV showed consistently strong and high-grade mineralization across the target area. Of the total 110 channel samples taken
at RV, 69 were from breccia vein and manto type mineralization. The average grade of all 69 samples of breccia veins
and mantos at RV was 148 g/t Ag and 5.5% Zn+Pb (454 g/t AgEq or 7.5% ZnEq).
For a complete set of sample data and maps, refer to the References section of this news release.
Cu-Au skarn areas
Several past-producing Cu-Au magnetite skarn workings were sampled in the current program. The areas sampled (with
respective number of samples with results in parentheses) include: Soledad (98), Romulo (18), Marco (46), Teodulo (31), and
Ponciano (8). Samples from the Romulo and Corrales areas are still pending.
Mineralization on the Cu-Au skarn areas of the Project is located along the intrusive contact with bleached and recrystallized
limestone. Copper occurs dominantly as copper carbonates and locally as chalcanthite and chalcopyrite, with magnetite,
wollastonite, garnet, pyroxene and epidote.
The Soledad area (“Soledad”) is located in the northeastern part of the Project. Small to large pits were developed for exploring
and exploiting magnetite skarn formed at the northwest-trending contact of the intrusive and limestone. Results from the ten
best channel samples, of 98 taken, averaged 1.5 g/t Au and 1.5% Cu. The highest value channel sample at Soledad returned
7.9 g/t Au and 6.9% Cu over 1.5m.
The Romulo area (“Romulo”) is located in the east-central part of the Project. Open cuts were developed along an east-trending
contact between limestone and the intrusion. Shallow underground workings exploited a north-trending structure that cuts the
contact. The best five of 18 channel samples returned to date average 0.5 g/t Au and 0.7% Cu, with a high of 1.0 g/t Au and
1.5% Cu over 1.0m. Massive andradite garnet is abundant near the contact and within an 800m-long, east-west trending skarn
body. Sample results for 45 samples from Romulo are still pending and are expected in the coming weeks.
The Marco area lies in the southern part of the Project, immediately west of the RV area. Past workings exploited iron skarn,
and the mineralization occurs at a structural intersection within limestones near the intrusive contact. The best channel
sample at Marco graded 0.1 g/t Au and 0.7% Cu over 1.2m.
For a complete set of sample data and maps, refer to the References section of this news release.
In addition to the pending results from the Romulo area as noted above, results for 18 samples are also pending for the
Corrales area, which lies east of RV.
Findings and Interpretations
Based on the work to date, the following key findings and interpretations are noted on the Project:
• The presence of multiple, high-grade mineralized areas, historic workings, and numerous prospects at surface
demonstrate the strong mineral potential of the Monclova project;
• Two general types of mineralization are observed on the Project: (1) Cu-Au skarn developed primarily at the contact of
intrusive rocks with limestone or along structural zones; (2) silica-rich polymetallic vein and replacement mineralization
developed at the intrusive-limestone contact or in limestone;
• The highest priority target is RV, where robust Ag-Pb-Zn values are seen over a large prospective area that remains
open in all directions and at depth. Mineralization at RV consists of silicified breccia veins and mantos. Geochemical
results, coupled with mapping indicate a major zone of skarn-, manto- and breccia-hosted Ag-Pb-Zn mineralization at
RV; and
• Several Cu-Au skarn targets exist on the property and warrant follow-up work, particularly the Romulo and Soledad
areas.
Discovery is in the process of obtaining detailed hyperspectral imagery for the Project. IP-resistivity and ground magnetic
surveys are planned for Q2 with an initial drilling program planned for Q3.
References
For a full table of results, maps and graphics related to this news release, please refer to:
https://www.dsvmetals.com/site/assets/files/5032/monclova_nr_-_final_appendix.pdf
Technical Information
Sample analysis and QA/QC Program: The chip channel samples presented herein were taken perpendicular to
mineralization, with variable length (across width of mineralization, typically 0.5-2m) 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, Canada for analysis. Samples were analyzed for: (1) gold, using 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%, values of lead > 10%, and values of silver > 100
g/t; samples were re-assayed using the ME- OG62 (high-grade material ICP-AES) analytical package; (2) for values of zinc or
lead greater than 30%, samples were re-assayed using the Zn-VOL50 or Pb-VOL50 (potentiometric titration) analytical
methods, respectively; (3) for values of silver greater than 1,500 g/t, samples 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: Taj Singh, M.Eng, P.Eng, President and CEO, 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 the release is accurate.
ABOUT DISCOVERY METALS
Discovery Metals is focused on discovering and advancing high grade polymetallic deposits in a recently assembled land
package of approximately 300,000 hectares over a large and historic mining district in northern Coahuila State, Mexico. The
portfolio of seven key properties, all with shallow high-grade Ag-Zn-Pb mineralization, is situated in a world class carbonate
replacement belt that stretches from southeast Arizona to central Mexico. The land holdings contain numerous historical
direct-ship ore workings with approximately 4km of underground development. No modern exploration or exploration drill
testing has been carried out on the properties prior to Discovery Metals’ involvement.
On Behalf of the Board of Directors
“Taj Singh”
Taj Singh, M.Eng, P.Eng, CPA
President, Chief Executive Officer, and Director
For further information contact:
#701 - 55 University Ave
Toronto, ON Canada, M5J 2H7
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.