DISCOVERY SILVER CORP. The results from this release will be incorporated in the new resource estimate scheduled for completion later this quarter and PEA in 4Q 2021.
DRILL PROGRAM UPDATE
Phase 1 drilling: The Company's Phase 1 drill program concluded at the end of April. The data from the 75,000 m of new drilling (178 holes) completed in this program, along with 133,000 m of historic drilling (292 holes), will be used to support an updated resource (3Q 2021) and PEA (4Q 2021). The final assay results from Phase 1 drilling (14 holes) are expected to be released later this month. Phase 2 assay results that have been received whilst awaiting final assays from Phase 1 will also be used to support the updated resource and PEA.
Phase 2 drilling: The Company has completed 21,600 m (56 holes) as part of its Phase 2 drill program which will be ongoing through the remainder of the year. Phase 2 drilling will be focused on three key areas: (1) upgrading inferred resources for inclusion in a prefeasibility study; (2) resource expansion of bulk-tonnage mineralization and (3) testing of the width, grade and continuity of the extensive high-grade vein systems that transect the deposit. There are currently four drill rigs operating on site.
About Discovery
Discovery's flagship project is its 100%-owned Cordero project, one of the few silver projects globally that offers margin, size and scaleability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State,
Contact:
Tel: 416-613-9410
Email: forbes.gemmell@discoverysilver.com
Web: www.discoverysilver.com
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 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.
Drilling in the NE Extension was successful in extending the strike length of high-grade mineralization by approximately 100 m. The five best intercepts within this zone, including four intercepts from this release, have returned an average interval of 109 m at 212 g/t AgEq. Today's results, along with the final assay results from our Phase 1 drill program will be incorporated in our upcoming resource estimate due to be released later this quarter.'
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