Jan 17 2019
The target of Discovery Minerals LTD, an acquisition and development company, is natural resource properties principally related to precious metals and mining operations.
The company’s Board takes pleasure in announcing the official launch of its mining program on the silver and gold mining War Eagle Mountain Property in Idaho. As part of the first phase, which has already started, the Company has commissioned a sequence of reports on the Project by professionals in the fields of Mining Engineering, Geology, Mill engineering, and Surveying. It is anticipated that these reports will be completed by the end of April 2019 and are indispensable to make a mining plan and start physical preparations for mining.
The War Eagle Mountain Project is the easternmost gold dome on the Owyhee Gold Trend of the Silver City Mining District in southern Idaho. This mining area, which trends east-west for 5 miles, includes Florida Mountain, War Eagle Mountain, and DeLamar Mountain. The main silver and gold veins on War Eagle Mountain are the “Central,” “Oro Fino,” and the “Poorman.” The “Oro Fino” vein system, which extends not less than 12,000 feet long, includes six other main veins linked with it. The “Poorman” and “Central” have roughly 40 offshoots linked with them.
On the basis of the analyses of the extensive data on the mined area, the Company Geologist stated, “There is plenty of scope for more ore on the main veins and probably scope for an open pit mine on the North West (‘NW’) veins between them. North trending veins, like Poorman and Oro-Fino/Golden Chariot, are probably the main controlling faults and are mineralized. They have generated a NW trending vein set between them that taps the hydrothermal fluids from below, being generated by a porphyritic quartz diorite which is responsible for the Tertiary volcanic sequence.”
Previously, the Kinross Gold Corporation mined the nearby DeLamar and Florida Mountains and produced roughly $1.8 billion in silver and gold production. Many years ago, while serving at the adjacent DeLamar Mountain open pit Operation, the Chief Geologist for Kinross noted, “My experiences at Florida & DeLamar Mountains dictate that any new exploration ventures should be focused on the War Eagle Mountain if a large scale project is the desired goal in this mining district.”
Opinions such as these and other similar ones put forward by technically qualified personnel have made the Directors of Discovery Minerals Ltd. to be extremely optimistic about accessing an economic silver and gold production operation within a comparatively short period of time. Some of the ore positions have already been targeted to be mined.
This production focus is the culmination of years of work on a project that we expect will produce positive results for many years to come. In the most simple terms, the best place to find a new gold mine is adjacent to an existing proven mine resource. War Eagle Mountain lies directly in a massive mineralized fault line in southern Idaho which has produced extraordinarily rich results in the adjacent properties. There has never been large scale mining operations at the War Eagle Mountain utilizing modern state of the art equipment and mining techniques. Much of the mining was in the 1860s and 1870s, when miners had only basic equipment to drive through very tough rock. Picks and shovels were used plus only hammers and handsteel were used to bore blast holes. Clearly the rich gold was a great incentive. We are confident in our ability to fully develop this tremendous resource from both narrow vein and open pit mining operations. We look forward to reporting on the progress of this project as we move forward developing and implementing our mining plan.
Russell Smith, CEO, Discovery Minerals Ltd