Discovery Silver Corp. [DSV-TSXV; DSVSF-OTCQX] reported results of the final 26 drill holes from its phase 2 drill program on its 100%-owned flagship Cordero silver project located in Chihuahua state, Mexico.
These holes consisted of upgrade and expansion drilling of the PEA (preliminary economic assessment) pit and expansion drilling of the 2021 resource pit. Drilling will be used to support a prefeasibility study (PFS) planned for early 2023. The company has also provided an update on its continuing exploration program on its property-wide targets.
Highlight intercepts from phase 2 drilling include 58 metres averaging 208 g/t silver equivalent (AgEq) (99 g/t silver, 0.33 g/t gold, 1.6% lead and 1% zinc) from 78 metres and 48 metres averaging 231 g/t AgEq (100 g/t silver, 0.63 g/t gold, 1.8% lead and 0.8% zinc) from 148 metres in hole C22-614. These intercepts were from upgrade drilling within the PEA starter pit.
Hole C22-644 returned 125 metres averaging 111 g/t AgEq (37 g/t Ag, 0.04 g/t Au, 0.4% Pb and 1.6% Zn) from 265 metres.. This intercept was directly below the 2021 resource pit in an area previously modeled as waste.
Hole C22-634 returned 42 metres averaging 201 g/t AgEq (76 g/t Ag, 0.06 g/t Au, 1.0% Pb and 2.4% Zn) from 453 metres. This interval is located approximately 20 metres below the resource pit.
Hole C22-636 returned 86 metres averaging 120 g/t AgEq (32 g/t Ag, 0.02 g/t Au, 0.1% Pb and 2.2% Zn) from 716 metres, highlighting the mineralization potential at depth.
Tony Makuch, Interim CEO, stated: “The completion of our Phase 2 drill program, consisting of close to 80,000 metres in over 250 drill holes, represents another major milestone in the advancement of our Cordero project. This program consistently intercepted mineralization beneath and to the northeast of the open pit outlined in last year’s Preliminary Economic Assessment highlighting the potential to expand the size of the open pit in our upcoming PFS.
“Our PFS is now expected to be completed in early 2023, a slight delay from our original target of mid to late 4Q 2022. The additional time will allow us to further optimize the study to incorporate recent positive metallurgical developments including the streamlining of the process circuit via co-processing of oxides and sulphides and cost efficiencies through lower reagent consumption and a coarse grind size.”