Discovery Minerals LTD is an acquisition and development Company that targets natural resource properties primarily in precious metals and mining operations. Discovery Minerals is pleased to announce that mining operations will commence on the War Eagle Mountain Project in late June, 2019 on the Oro Fino Trench.
As previously reported the initial mining target is a near surface extension of the Oro Fino Vein with approximately 70,000 tons of ore. The recent independent survey by Geoff Boswell of Underhill Associates revised the ore grade from 10g per ton to 15g per ton Gold with a ratio of 5 oz of Silver for each oz of Gold. It is also expected to find enrichment cross structures with greater tonnages in the dilation zone and higher grades of gold & silver at these intersections. While this initial operation is progressing the Company expects to encounter further ore positions while mining development headings to expand operations. To be clear this is only a small fraction of the War Eagle Mountain Project and the Company’s planned operations. Oro Fino is one of three vein structures that have shafts to a 1250 feet depth and can be traced for 2 miles. The other two significant structures being Central and Poorman.
Russell Smith, CEO of Discovery Minerals, Ltd, stated:
The Company and their JV partner are enjoying the prospect of the commencement of a serious mining campaign on this prolifically productive and well regarded historic mining area, situated in the Owyhee Gold area of the Silver City Mining District. We have a tremendous team in place and look forward to reporting on continued progress as we identify additional target ore bodies. All Geologists, including the most recent conclusions of Underhill Associates, state that War Eagle Mountain contains multiple high grade gold and silver veins, similar to those of the rich mines of northern Nevada and we look forward to many years of operations to fully develop this resource. This is both the culmination of many previous years of work and the beginning of an extremely exciting time for the Company and our Shareholders. As always I would like to thank our Shareholders for their continued support as we grow Discovery Minerals.”