Vancouver, British Columbia – January 9, 2020 – Discovery Harbour Resources Corp. (TSXV: DHR) (the “Company” or “Discovery Harbour”) is pleased to announce a progress update on its detailed soil sampling and historical work data compilation programs on the Caldera Gold Project in Nevada. This historical data will be integrated with new data, including from a detailed soil sampling program currently underway, to evaluate and prioritize targets for the drill program planned for this year.
Phase 1 results of a two phased detailed soil sampling program will be available to management for review this month. The Company currently has 30 prioritized targets in eight separate areas that are being considered for drilling. These targets have been systematically ranked with the current data in the context of a high grade – low sulphidation epithermal gold model.
Eight Target Areas
The historical data that is being compiled and evaluated is a result of programs by various companies exploring for a shallow bulk tonnage gold deposit. Discovery Harbour’s mapping program defined 30 targets for the planned drill program. The current soil sampling program, including multi-element data combined with historical data, will prioritize the initial drill targets for a high grade epithermal gold deposit.
The historical data includes the following:
The Company has divided the targets into eight areas throughout the 30 square km Caldera property (see figure 1). The eight areas are as follows:
The Company intends to provide specific details of each of the eight target areas over the next few weeks. Below are descriptions of the Adara and Barak target areas.
Adara Target Area
The Adara area contains eight targets and includes the historic Golden King Mine. Historical drilling intersected sporadic high grade shallow intercepts which are interpreted to be associated with west to northwest trending structures. Highlights of the historical drilling include the following:
Numerous multi gram gold per tonne rock samples have been taken through this area. Historical soil sampling indicates anomalous gold and silver as well as anomalous mercury. Quartz and chalcedony have been mapped in this area.
Barak Target Area
The Barak area contains two targets based on anomalous historical drilling and brecciation in short structures identified through limited outcrop and drilling. Historical drilling intersected anomalous gold over 5 to 25 feet drill intercepts; however, based on Discovery Harbour’s interpretations it appears that some of the historical drilling was oriented sub parallel to the structural strike direction. The brecciated structures are associated with historical anomalous gold and silver results in rock and soil samples.
Discovery Harbour initiated a comprehensive soil sampling program in late 2019 which will provide management with a cohesive and uniform data set over much of the Caldera property and in particular the specific targets that have been prioritized as potential drill targets. The soil analyses will be integrated with the historical data including previous shallow drilling, geology, rock samples, the patchwork of previous soil sampling, alteration and structural mapping, and geophysics, all of which will serve to systematically prioritize targets for a 2020 drill program. The difference between the Company’s drilling strategy and historic drilling is that the latter only tested to an average depth of 100 metres whereas Discovery Harbour’s program involves drill testing to 300 to 500 metres. This is crucial in importance because it means that Discovery Harbour will be the first company to drill test for a deeper high grade epithermal gold deposit on the Caldera property.
Over 700 soil samples were collected in Phase 1 of the detailed soil sampling program. These results will be integrated with the historical data and it is expected that the results will be available later this month. The second phase of the soil sampling program is planned to collect a further 500 samples.
The new soil sampling data will be integrated with the historical data, to evaluate and prioritize targets for the drill program planned for this year. Previous exploration focused on shallow bulk tonnage targets whereas Discovery Harbour will focus on high grade Au-Ag targets associated with a paleo boiling zone that management interprets to lie in the 300 to 500m depth interval.
The 100% Discovery Harbour-optioned Caldera Property was generated by Don Merrick and John Zimmerman of Genesis Gold Corporation, a private Utah company specializing in gold exploration in the Western United States (www.genesisgoldcorp.com), the foundation of which are the claims first staked by Zsolt Rosta.
Mark Fields, P.Geo., is the Qualified Person for Discovery Harbour as defined in NI 43-101 and has reviewed and approved the technical contents of this news release.
ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.
President and Chief Executive Officer Discovery Harbour Resources Corp. Tel: (604) 681-3170
Fax: (604) 681-3552
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caldera Property Target Areas – Figure 1