Discovery Silver drills 73 metres of 241 g/t AgEq at Cordero, Mexico

Discovery Silver Corp. reported results from the first 13 holes from its phase 2 drill program on its 100%-owned flagship Cordero silver project located in Chihuahua State, Mexico. This current set of holes is focused on upgrading resources for inclusion in a prefeasibility study planned for 2022.

The company’s latest resource update, originally scheduled for release at the end of this month, has been delayed slightly due to the inclusion of additional drill metres and is now expected to be completed in the middle of October. The preliminary economic assessment (PEA) is on track for completion in the fourth quarter of 2021.

Highlight intercepts include 73.1 metres averaging 241 g/t silver equivalent (AgEq) from 75.0 metres (104 g/t silver, 0.06 g/t gold, 0.8% lead and 2.5% zinc) in hole C21-510. Hole C21-523 returned 133.8 metres averaging 103 g/t AgEq from 69.0 metres (39 g/t Ag, 0.07 g/t Au, 0.8% Pb and 0.7% Zn).

Hole C21-519 returned 28.6 metres averaging 300 g/t AgEq from 265.5 metres (101 g/t Ag, 0.12 g/t Au, 1.6% Pb and 3.2% Zn), including 9.4 metres averaging 759 g/t AgEq (257 g/t Ag, 0.26 g/t Au, 4.1% Pb and 8.1% Zn). Hole C21-537 returned 22.6 metres averaging 298 g/t AgEq from 409.8 metres (94 g/t Ag, 0.11 g/t Au, 1.7% Pb and 3.3% Zn).

Taj Singh, president and CEO, stated: “Highlight intercepts from this release are from both the north and south corridors and demonstrate the potential to expand the higher-grade resource as we tighten up the drill spacing across the deposit through our phase 2 drill program.

“The slight delay in delivering our resource estimate to mid-October is due to incorporating approximately 15,000 m of additional drill data completed subsequent to the cut-off date for the phase 1 drill program. This additional drill data is expected to result in better definition of high-grade zones and enhance the overall classification of the resource estimate for the deposit.”

The initial drill holes from phase 2 drilling were predominantly focused on the south corridor and in the northeast extension of the north corridor. This set of holes was targeting improved definition of high-grade zones within the bulk-tonnage domain and will be included in a prefeasibility study on the project planned for 2022.

There are currently four drill rigs operating on site. Despite the increased risk that the Delta variant poses to future exploration at the project, phase 2 drilling is progressing as planned.

Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State.