Discovery Silver - President and CEO, Taj Singh.
President and CEO, Taj Singh.
Source: Stock Day Media.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Discovery Silver (DSV) has intersected 258 g/t AgEq over 66 m and 120 g/t AgEq over 143 m at the Cordero Silver Project
  • Additional highlights include 59.4 m averaging 171 g/t AgEq and 48.9 m averaging 159 g/t AgEq
  • Phase two drilling will focus on upgrading inferred resources, resource expansion and testing the high-grade vein systems that transect the deposit
  • Discovery is focused on its flagship 100-per-cent owned Cordero Project, one of the few silver projects globally that offers margin, size and scalability
  • Discovery Silver (DSV) is up by 0.47 per cent and is currently trading at $2.15 per share

Discovery Silver (DSV) has intersected 258 g/t AgEq over 66 m and 120 g/t AgEq over 143 m at the Cordero Silver Project.

The results stem from the recently completed phase one drill program targeting bulk-tonnage mineralization at the project.

Additional highlights

  • 59.5 m averaging 153 g/t AgEq
  • 86 m averaging 108 g/t AgEq 
  • 82.3 m averaging 136 g/t AgEq 
  • 59.4 m averaging 171 g/t AgEq 
  • 48.9 m averaging 159 g/t AgEq

Drill results

Mineralization is hosted within northeast trending domains defined over a strike length of 1.4 km open to the northeast. Hole C21-425 confirmed mineralization to a depth of 600 m, approximately 100 m below the pit bottom from the 2018 PEA.

Mineralization consists predominantly of galena, sphalerite and pyrite in disseminations, veinlets and stockworks hosted in breccia, rhyodacite and intervals of replacement mineralization in calcareous sediments. 

Phase one drilling

Discovery will use the data from the 75,000 m of new drilling (178 holes) in this program, along with 133,000 m of historic drilling (292 holes), to support an updated resource (Q3 2021) and PEA (Q4 2021).

Phase 2 drilling

The company has completed 11,000 m (31 holes) as part of its phase 2 drill program, which will be ongoing through the remainder of the year.

The program will focus on upgrading inferred resources for inclusion in a prefeasibility study, resource expansion of bulk-tonnage mineralization, and testing of the width, grade and continuity of the high-grade vein systems that transect the deposit. There are currently four drill rigs operating on site.

Taj Singh, President and CEO of Discovery Silver, commented,

“This current set of holes, drilled in areas where there were significant gaps in previous drilling, confirm the continuity of higher-grade mineralization at depth in the South Corridor. Excellent grades over broad widths were encountered on a consistent basis highlighting the potential for Cordero to emerge as one of the few multigenerational mines in the silver space. We look forward to compiling the final assay results from our phase 1 drill program for incorporation in our resource update in Q3 2021 and preliminary economic assessment in Q4 2021.”

Discovery is focused on its flagship 100-per-cent owned Cordero Project, one of the few silver projects globally that offers margin, size and scalability.

Discovery Silver (DSV) is up by 0.47 per cent and is currently trading at $2.15 per share as of 2:42 pm ET.

More From The Market Herald
Barrick Gold - CEO, Mark Bristow

" Barrick Gold (TSX:ABX) announces $70M investment in Tanzanian communities

Barrick Gold Corporation (ABX) has announced a $70 million investment to support the development and infrastructure of Tanzanian mine communities.

" Durango (TSXV:DGO) closes $515K flow through financing

Durango Resources (DGO) has closed its private placement for gross proceeds of C$515,500.
Tocvan Ventures (CSE:TOC) - CEO, Brodie Sutherland.

" Colibri (CBI) and Tocvan (TOC) report gold discoveries at Pilar Gold & Silver Project

Tocvan Ventures (TOC) and Colibri Resource Corp (CBI) have received drilling results from the Pilar Project.

" Pure Gold Mining (TSXV:PGM) closes $31M non-brokered private placement

Pure Gold Mining (PGM) has closed the final tranche of a non-brokered private placement for total gross proceeds of C$31,086,144.