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
- 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.
June 6, 2018, Toronto, Ontario - 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.
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|
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.
For a full table of results, maps and graphics related to this news release, please refer to:
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, M.Eng, P.Eng, CPA
President, Chief Executive Officer, and Director
For further information contact:
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Toronto, ON Canada, M5J 2H7
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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.