TORONTO, Oct. 12, 2017 (GLOBE NEWSWIRE) — Discovery Metals Corp. (TSX-V:DSV) (“Discovery Metals” or the “Company”) is pleased to announce that it has been granted drill permits for five of its projects from Mexican regulator SEMARNAT (Mexico’s Secretary of Environment and Natural Resources).
The Company has option agreements on seven projects (including the five for which permits have just been granted), all located in northern Coahuila State within an historic high-grade and past producing silver-zinc-lead belt. All projects display alteration and mineralization styles suggestive of carbonate-replacement style mineralization, and include numerous historical artisanal workings. The projects have not been explored with modern methods and all are virtually undrilled. The newly granted permits cover the La Kika, Renata, Santa Rosa, La Minerva, and Jemi-Rare projects.
Discovery Metals President and CEO, Taj Singh commented: “This is a significant step for us. Our company came into existence in August, so we are very pleased to have received these permits in such a short time. Our newly-formed team has been working diligently to develop a detailed exploration plan and has prioritized a number of high-impact targets. We expect to be drilling on at least one project before the end of the year.”
The preparation of the application documents for submission to SEMARNAT for Discovery Metals’ other two projects, Puerto Rico and Monclova, is also underway.
On Behalf of the Board of Directors of:
DISCOVERY METALS CORP.
For further information contact:
Taj Singh, M.Eng, P.Eng, CPA
President & CEO
Discovery Metals Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 the Company 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. We do not assume any obligation to update any forward-looking statements except as required under applicable laws
About Discovery Metals
Discovery Metals is focused on discovering and advancing high grade polymetallic deposits in a recently assembled land package of approximately 300,000 hectares over a large and historic mining district in northern Coahuila State, Mexico. The portfolio of seven key properties, all with shallow high grade silver-zinc-lead mineralization, is situated in a world class Carbonate Replacement Deposit (CRD) belt that stretches from SE Arizona to central Mexico. The land holdings contain numerous historical direct-ship ore workings with over 4,000 m of underground development. No modern exploration or exploration drill testing has been carried out on the properties.