- Discovery Silver (DSV) is releasing results from 19 holes drilled during its Phase 2 drill program on its Cordero Silver Project
- The project is located in Chihuahua State, Mexico
- The Toronto mineral exploration company intercepted 337 grams per tonne of silver equivalent over 34 metres
- The intercepts were made below the Preliminary Economic Assessment (PEA) open pit
- Discovery Silver is up 4.2 percent, trading at $1.24 per share at 2:34 p.m. ET
Discovery Silver (DSV) is releasing results from 19 holes drilled during its Phase 2 drill program on its Cordero Silver Project.
The project is located in Chihuahua State, Mexico.
The Toronto-based mineral exploration company intercepted 337 grams per tonne of silver equivalent over 34 metres.
The intercepts were made below the Preliminary Economic Assessment (PEA) open pit.
Cordero is the company’s flagship project.
Current results include resource upgrade drilling for the Pre-Feasibility Study, which the company plans to publish in the fourth quarter.
It also expects to conduct expansion drilling of the PEA open pit and resource pit.
“We continue to intercept excellent grades both within and on the margins outside of the open pit defined in our 2021 PEA. This will further increase the confidence in the resource supporting our upcoming PFS and underscores the potential to expand the PFS open pit. In addition, our resource expansion drilling in the far northeast continues to highlight the prospectivity of this part of the deposit. Broad-spaced drilling to date has identified multiple sub-parallel mineralized corridors in this area that have the potential to expand the resource along strike and at depth,” said Discovery Silver CEO Taj Singh.
The company is also attempting expansion drilling in the far northeast of the deposit.
The company owns a 100-percent-interest in the property.
It completed the PEA in November and the company has approximately C$60 million cash on hand.
Discovery Silver is up 4.2 percent, trading at $1.24 per share at 2:34 p.m. ET.