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Discovery Metals jumps on Cordero drilling

Discovery Metals has announced results from eight diamond drill holes completed at its Cordero project in Chihuahua, Mexico, including hits in high-grade feeder structures.
Discovery Metals jumps on Cordero drilling Discovery Metals jumps on Cordero drilling Discovery Metals jumps on Cordero drilling Discovery Metals jumps on Cordero drilling Discovery Metals jumps on Cordero drilling

Cordero in Chihuahua, Mexico

Staff reporter

The company continues to intercept wide zones of bulk-tonnage style mineralisation along the north-east extension, while developing its understanding of the previously overlooked high-grade vein trends on the property.

Drilling highlights included 1.4m grading 700 grams per tonne silver, 0.74g/t gold, 16.1% lead and 14.0% zinc or 1,907 g/t silver-equivalent within a 5.3m breccia interval that averaged 225g/t silver, 0.27g/t gold, 5.1% lead and 5.5% zinc or 653g/t silver-equivalent in the 1.2km-long Todos Santos vein trend.

"Four of the eight drill holes in this news release hit high-grade feeder structures … in our first ever drill hole targeting the Todos Santos vein trend, and 1,119g/t silver-equivalent over 1.5m at the Parcionera vein trend," said president and CEO Taj Singh.

Phase one drilling commenced in September 2019 and was recently expanded from 35,000m to 55,000m with a second drill rig added in July with more to follow. Some 19,440m in 49 holes been completed with assays from five holes pending. Drilling will focus on targeting broad zones of breccia-hosted mineralisation in the east and north-east of both mineralised corridors and testing the width, grade and continuity of extensive high-grade vein systems identified in and adjacent to historical artisanal underground workings.

Shares in Discovery Metals opened 13% higher at C$1.37, valuing the company at $352 million.