Discovery Reports 402 m of 134 g/t AgEq including 112 m of 247 g/t AgEq in the

TORONTO, Sept. 14, 2020 (GLOBE NEWSWIRE) — Discovery Metals Corp. (TSX-V: DSV, OTCQX: DSVMF) (“Discovery” or the “Company”) is pleased to announce results from four diamond drill holes targeting bulk-tonnage mineralization in the South Corridor at its flagship Cordero project (“Cordero” or “the Project”) located in Chihuahua State, Mexico. The South Corridor has seen significantly less drilling than the North Corridor and will be a key area of focus for the remainder of the 55,000-metre (“m”) Phase 1 drill program. The goal of this drill program is to define a large-scale, high-margin project with excellent leverage to rising silver prices.

The highlight hole in this release is C20-343. Intercepts include:

• 401.7 m averaging 134 grams per tonne silver equivalent (“g/t AgEq¹”) from 66.9 m (49 g/t Ag, 0.07 g/t gold (“Au”), 1.0% lead (“Pb”) and 1.1% zinc (“Zn”)) including:
  • 30.3 m averaging 182 g/t AgEq¹ (57 g/t Ag, 0.10 g/t Au, 0.8% Pb, 2.2% Zn) from 181.2 m
  • 112.3 m averaging 247 g/t AgEq¹ (96 g/t Ag, 0.08 g/t Au, 2.0% Pb, 1.8% Zn) from 243.5 m
  • 44.2 m averaging 241 g/t AgEq¹ (84 g/t Ag, 0.10 g/t Au, 1.8% Pb, 2.0% Zn) from 413.7 m

Taj Singh, President and CEO, states: “Hole C20-343 returned one of the best-ever intercepts at Cordero. The fact that it came from the South Corridor, an area of the deposit that has seen significantly less drilling, is even more encouraging. The remarkably long intercept begins at shallow depth and includes multiple zones of high-grade mineralization, including an interval of 112.3 m averaging 247 g/t AgEq¹.

“Initial drilling in our Phase 1 program has been successful in defining a higher-grade bulk-tonnage domain in the North Corridor with a strike extent of over 1.5 km. While this domain remains open along strike and at depth, the focus of our drill targeting for additional bulk-tonnage mineralization has now shifted to the South Corridor. The drills are now targeting areas of the deposit where there are significant gaps in previous drilling in order to efficiently grow the pit-constrained higher-grade resource at Cordero. Our initial results show tremendous promise and we look forward to follow-up drilling in the South Corridor.”

DRILL RESULTS:

The four holes in this release were drilled in the South Corridor and were designed to in-fill significant gaps in previous drilling. Hole C20-343 returned a consistent high-grade intercept over a 401.7 m interval near-surface that averaged 134 g/t AgEq¹. The down-hole drill trace was approximately 100 m west of C20-337 (refer to press release dated July 20, 2020). C20-337 returned 258.9 m averaging 77 g/t AgEq¹ (28 g/t Ag, 0.06 g/t Au, 0.4% Pb and 0.8% Zn) from 61.0 m including 44.8 m averaging 139 g/t AgEq¹ (35 g/t Ag, 0.10 g/t Au, 0.7% Pb and 1.7% Zn) and 23.6 m averaging 186 g/t AgEq¹ (82 g/t Ag, 0.09 g/t Au, 0.8% Pb and 1.7% Zn). Mineralization in C20-343 consisted of galena and sphalerite in disseminations, veinlets and stockworks hosted in dacite, sedimentary rock and breccias. Higher-grade mineralization was hosted in southwest-striking breccias and veins that dip steeply to the northwest.  

The remaining holes were drilled between 120 m and 250 m to the northeast of C20-343. All holes returned broad intercepts of mineralization consisting of dacite, calcareous sediment and breccia-hosted sulphide veins, stockworks and disseminations. Drill hole locations for all holes are shown in Figure 1 (see links below). Detailed drill highlights are provided in the table below.

¹All results in this news release are rounded. Assays are uncut and undiluted. Widths are drilled widths, not true widths, as a full interpretation of the actual orientation of mineralization is not complete. Intervals for this release were chosen based on a 10 g/t AgEq cutoff up to a maximum of 20 m of internal dilution. Sub-intervals were chosen based on a 25 g/t AgEq cutoff with no more than 5 m of dilution in any sub-interval….