HIGHLIGHTS:
Hole ID | From | To | Width (m) | Ag g/t | Au g/t | Pb % | Zn % | AgEq2 g/t |
C19-295 | 55.4 | 136.6 | 81.2 | 63 | 0.35 | 0.9 | 0.9 | 159 |
including | 115.1 | 119.2 | 4.1 | 517 | 1.32 | 7.6 | 5.7 | 1,132 |
157.8 | 225.9 | 68.1 | 117 | 1.96 | 1.7 | 1.1 | 361 | |
including | 163.3 | 197.9 | 34.7 | 200 | 3.04 | 2.9 | 1.6 | 617 |
including | 165.6 | 169.2 | 3.7 | 512 | 21.52 | 6.9 | 0.2 | 2,524 |
and | 173.7 | 185.2 | 11.5 | 284 | 0.88 | 4.1 | 2.8 | 617 |
and | 186.4 | 188.4 | 1.9 | 222 | 0.83 | 3.5 | 2.2 | 505 |
and | 193.3 | 194.6 | 1.3 | 191 | 1.64 | 3.0 | 3.3 | 569 |
C19-296 | 101.1 | 148.2 | 47.1 | 71 | 0.45 | 1.0 | 1.2 | 191 |
including | 103.5 | 146.2 | 42.7 | 77 | 0.48 | 1.1 | 1.3 | 206 |
including | 105.4 | 109.5 | 4.1 | 167 | 0.76 | 2.6 | 3.0 | 444 |
155.0 | 216.5 | 61.6 | 42 | 0.39 | 0.6 | 0.4 | 112 | |
including | 165.5 | 192.7 | 27.2 | 77 | 0.50 | 1.1 | 0.7 | 188 |
including | 176.0 | 179.9 | 3.9 | 268 | 0.59 | 4.2 | 1.6 | 529 |
199.3 | 200.9 | 1.6 | 152 | 2.13 | 2.4 | 1.7 | 482 | |
260.2 | 261.7 | 1.5 | 221 | 0.95 | 3.7 | 2.3 | 524 | |
C19-294 | 86.0 | 180.3 | 94.3 | 47 | 0.27 | 0.7 | 0.6 | 121 |
including | 88.0 | 101.8 | 13.9 | 88 | 0.41 | 1.4 | 1.2 | 218 |
and | 109.9 | 118.8 | 8.9 | 115 | 0.40 | 1.7 | 1.3 | 263 |
including | 117.4 | 118.8 | 1.5 | 285 | 0.58 | 4.7 | 2.0 | 582 |
155.5 | 166.3 | 10.8 | 93 | 0.46 | 1.3 | 1.2 | 225 | |
C19-293 | 473.6 | 533.5 | 59.9 | 37 | 0.06 | 0.9 | 1.5 | 136 |
including | 473.6 | 500.8 | 27.2 | 48 | 0.09 | 1.3 | 2.1 | 189 |
including | 492.4 | 497.4 | 5.0 | 69 | 0.13 | 2.1 | 3.1 | 282 |
508.2 | 512.4 | 4.3 | 111 | 0.10 | 2.2 | 2.9 | 317 |
* Complete assay results for holes C19-293 through C19-296 can be found at the link in the Discussion section below. Also, refer to the Technical Notes section below for details on assumptions, calculations, etc.
DISCUSSION:
Since acquiring Cordero in
Seventeen holes totaling 5,940 metres have been completed to-date. All the holes were drilled within the existing resource area as defined by Levon3. All holes were drilled roughly perpendicular to the northeast trend of higher-grade blocks outlined in the current resource model.
Holes C19-293 through C19-296 are the first four drilled by Discovery. All holes were successful in targeting the first style of higher-grade mineralization: sulphide mineralization within a breccia host. Sulphide mineralization consists predominantly of sphalerite, galena and pyrite in veinlets and disseminations and is typically hosted within dacite clast-dominated breccias. All four holes confirmed the northeast trend of the high-grade mineralized zones within the existing resource area and, in several cases, suggest the possible expansion of the mineralization beyond the current block model. The current drilling has returned intervals that are among the best with respect to width and grade drilled to-date on the project.
Pending holes targeted both breccia-hosted sulphide mineralization as well as discrete sulphide veins. The presence of high-grade discrete sulphide veins at Cordero is well documented through prospecting and small-scale mining. However, these veins were never a focus of Levon’s prior exploration. Discovery believes that definition of these veins has the potential to significantly enhance the high-grade component of the deposit.
Maps and sections with assays showing the drill hole locations and full analytical results are available at https://dsvmetals.com/site/assets/files/5344/2020-01-08-dsv-nr-appendix.pdf.
About the
Cordero is located on the eastern edge of the Sierra Madre Occidental mountains in the northern part of the Central Mexican
AgEq3 (g/t) Cutoff | Tonnage & Grade within Mineral Resources | Total Contained Ag Mozs | Total Contained AgEq3 Moz | ||||||
Class | M tonnes | AgEq1g/t | Ag g/t | Zn % | Pb % | Au g/t | |||
15 (used in PEA) | Indicated | 990 | 32 | 13 | 0.4 | 0.2 | 0.04 | 408 | 1,022 |
Inferred | 282 | 56 | 21 | 0.8 | 0.3 | 0.04 | 188 | 513 | |
25 | Indicated | 467 | 46 | 19 | 0.5 | 0.3 | 0.06 | 278 | 686 |
Inferred | 183 | 77 | 28 | 1.0 | 0.4 | 0.05 | 163 | 451 | |
50 | Indicated | 99 | 95 | 40 | 1.0 | 0.6 | 0.11 | 128 | 303 |
Inferred | 100 | 112 | 41 | 1.5 | 0.7 | 0.06 | 131 | 360 |
This table shows that a large portion of the resource remains at significantly higher cutoff grades than the 15 g/t AgEq cutoff used in the 2018 Preliminary Economic Assessment (“PEA”) completed by Levon. Since acquiring the project in
Historical mine workings and prospects at Cordero date back to the 17th century. There are currently about 40 identified shallow, vertical shafts and associated workings at Cordero, generally developed along outcropping, southwest-striking, high-grade silver-zinc-lead-gold sulphide veins as well as high-grade skarn mineralization. Local artisanal miners report most of the past and recent production was direct shipping ore, which was hand-sorted, shipped, and processed in the nearby town of Parral. The
About Discovery
For further information contact:
VP Corporate Development & Investor Relations
forbes.gemmell@dsvmetals.com
416-613-9414
On Behalf of the Board of Directors,
President, Chief Executive Officer, and Director
TECHNICAL NOTES & REFERENCES:
1 All results in this news release are rounded. Assays are uncut and undiluted. Widths are drilled widths (not true widths). Composites for this release were chosen at a 25 g/t AgEq cutoff, whereby no more than 5m of below-cutoff material is included in any composite interval. For subintervals, a 50 g/t AgEq cutoff was used, whereby no more than 3m of below-cut-off material is included in any composite interval.
2 AgEq calculations for reported drill results are based on USD
3 PEA by M3 Engineering, Resource by IMC,
Sample analysis and QA/QC Program: True widths of reported drill intercepts have not been determined. Assays are uncut except where indicated. All core assays are from HQ drill core unless stated otherwise. Drill core is logged and sampled in a secure core storage facility located at the project site 40km north of the city of Parral. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to ALS Geochemistry-Mexico for preparation in Chihuahua City,
Qualified Person:
Neither
Cautionary Note Regarding Forward-Looking Statements
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in
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 Discovery 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, 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. There can be no assurance that the Private Placement will close on the announced terms. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws.
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