Discovery Silver Corp. [DSV-TSX; DSVSF-OTCQX] reported results from feasibility study drilling on its flagship Cordero silver project located in Chihuahua state, Mexico. These holes consist of reserve expansion and definition drilling and will be incorporated in a feasibility study in conjunction with a resource update planned for the first half of 2024.
Highlight intercepts from this current set of drill holes include 52 metres averaging 105 g/t silver equivalent (AgEq) (51 g/t Ag, 0.19 g/t gold, 0.6% lead and 0.9% zinc) from 102 metres and 37 metres averaging 171 g/t AgEq (79 g/t Ag, 0.09 g/t Au, 1.1% Pb and 1.5% Zn) from 276 m in hole C22-722; 15 metres averaging 479 g/t AgEq (278 g/t Ag, 0.08 g/t Au, 3.1% Pb and 2.9% Zn) from 145 m in hole C22-713; and 39 metres averaging 134 g/t AgEq (104 g/t Ag, 0.17 g/t Au, 0.5% Pb and 0.3% Zn) from 46 metres in hole C22-728.
Tony Makuch, CEO, stated: “The reserve expansion and definition component of our feasibility study drill program at our Cordero project is now complete. In total we have added approximately 35,000 metres of drilling in over 100 drill holes since the cut-off for the prefeasibility study resulting in a comprehensive drill dataset supporting the feasibility study of approximately 310,000 metres in close to 800 drill holes. The additional drilling we have completed, including this current set of drill results, has demonstrated the potential to further grow reserves at what is already one of the largest silver deposits globally. Our drilling through the remainder of the year will be focused on engineering drilling to support the feasibility study along with drill testing multiple targets on our large and highly prospective land package.”
The company has now drilled approximately 52,000 metres (164 holes) as part of its feasibility study drill program (since the data cut-off for the PFS study). This includes approximately 35,000 metres of reserve definition and expansion drilling, 7,000 metres of condemnation drilling, and 10,000 metres of engineering drilling (hydrogeology and geotechnical).
Engineering drilling will be continuing through the remainder of the year along with the property-wide drill program which commenced last month. Property-wide drilling will initially target large chargeability anomalies in the Sanson area (approximately 3.5 km to the northeast of Cordero) and skarn targets at depth in the northeast of the deposit. Currently, 9,000 metres of drilling is planned in 2023. This program may be expanded depending on the results of the initial drilling.
This current set of feasibility study drilling consists of 22 drill holes and was focused on reserve upgrade and expansion drilling in the southwest of the deposit. Drill results continue to demonstrate the potential to improve grade and convert waste to ore within the reserves pit.
Hole C22-722, drilled in the southwest of the South Corridor within the reserves pit, returned several long mineralized intervals, including 51.7 metres of 105 g/t AgEq from 101.9 metres, 82.1 metres of 84 g/t AgEq from 165.4 metres and 37.4 metres of 171 g/t AgEq from 275.8 metres. These intervals have the potential to expand the volume of higher-grade blocks laterally and vertically.
Hole C22-728, drilled approximately 75 metres to the north of C22-722, returned 38.5 metres of 134 g/t AgEq from 46.2 metres, potentially increasing estimated grades in this part of the deposit.
Hole C22-725 was drilled in the southwest of the North Corridor and returned 62.1 metres of 94 g/t AgEq from 47.2 metres including 21.7 metres of 158 g/t AgEq potentially increasing the depth extent of higher-grade blocks.
Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits. The PFS published in February 2023, demonstrates that Cordero has the potential to be developed into a highly capital efficient mine that offers the combination of margin, size and scalability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua state, Mexico.