Highlights from 10 holes released this week include 4.4m grading 246 grams per tonne silver, 0.39g/t gold, 6.5% lead and 0.4% zinc within a 37.1m interval grading 47g/t silver, 0.09g/t gold, 1.1% lead and 0.4% zinc at Parcionera.
At Josefina, the company reported 3.3m grading 196g/t silver, 0.17g/t gold, 5.6% lead and 4.9% zinc within a 41.7m interval grading 58g/t silver, 0.10g/t gold, 0.7% lead and 1.0% zinc.
"Step-out holes at Parcionera have doubled the drill-confirmed strike extent to at least 1km with clear potential for further expansion to the northeast," said Discovery Metals president and CEO Taj Singh.
"A review of historic drill core also indicates that Parcionera has a depth extent of at least 470m. Drilling at the Josefina vein trend intercepted high-grade veins, several of which were within broader zones of disseminated mineralization. This opens the possibility of expanding the higher-grade bulk-tonnage domain to the east."
Discovery has completed 45,400m in 116 holes as part of its expanded 55,000m phase 1 drilling programme targeting bulk-tonnage mineralisation within and to the east and northeast of both mineralised corridors, and testing the width, grade and continuity of high-grade vein systems that transect the deposit. The company has four drill rigs on site and assays are pending from 39 holes.
Shares in Discovery Metals are trading at C$2.19, valuing the company at $666 million.