Vancouver, British Columbia – January 21, 2020 – Discovery Harbour Resources Corp. (TSXV: DHR) (the “Company” or “Discovery Harbour”) is pleased to announce results from Phase 1 of its detailed soil sampling on the Caldera Gold Project in Nevada. A total of 718 samples were collected over a portion of the 30 targets that Discovery Harbour has identified as potential drill targets. Phase 2 of the detailed soil sampling program will collect a further approximately 500 samples once weather permits. When all the samples have been collected Discovery Harbour will, combined with the historical soil data, have excellent multi-element data coverage over all 30 potential drill targets.
Mark Fields, President and CEO of Discovery Harbour, comments: “These are encouraging results and, as we expected, will help to prioritize and select targets for our planned 2020 drill program. I was particularly encouraged by the consistently high tenor of the gold results in the soil sampling program and these further support the high grade nature of the low sulphidation epithermal gold model we are pursuing. The pathfinder elements are consistently anomalous and are correlated with the gold anomalies. We will begin to integrate the new soil data with the historical data to prioritize the drill targets. Our near term objective is to have a cohesive and uniform data set over the specific targets that have been prioritized as potential drill targets.”
The program successfully identified numerous gold and silver anomalies as well as pathfinder element anomalies, including antimony, arsenic and mercury. The summary results are described in the table below and the gold results are in the attached map to this news release.
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.
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.
The soil sampling program was initially announced and described by news releases on October 15, 2019, November 12, 2019, November 26, 2019 and January 9, 2020.
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.
Disclaimer for Forward-Looking Information
This news release contains forward‐looking information that involves various risks and uncertainties regarding future events. Such forward‐looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery Harbour, such as statements that Discovery Harbour intends to pursue the Caldera Project. There are numerous risks and uncertainties that could cause actual results and Discovery Harbour’s plans and objectives to differ materially from those expressed in the forward‐looking information, including: (i) adverse market conditions; (ii) exploration results, or (iii) the financial position of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward‐looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Discovery Harbour does not intend to update these forward‐looking statements.
Caldera Property Phase 1 Soil Sampling Results – Figure 1