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Discovery Harbour Outlines Eight Target Areas For 2020 Drilling on Caldera Gold Project, Nevada

09.01.2020  |  Newsfile

Vancouver, 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:

  • 142 drill holes;
  • 804 rock samples;
  • 1,365 soil samples, some with multi-element data, others with only gold and silver and lacking pathfinder elements such as antimony, arsenic and mercury;
  • Numerous old workings; and
  • Magnetic geophysical surveys.

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:

Target Area Number of Targets Summary Description
Adara 8 Multiple shorter northwest trending structures, with inflections, abundant old workings, multiple historical shallow drill holes with anomalous and some high grade Au intercepts, partial historical soil analyses with strong gold anomalies.
Barak 2 Northerly striking, shorter, structures, limited drilling with some anomalous results.
Calista 4 Two long linear parallel northwest structures, abundant old workings, notable brecciation, partial historical soil analyses with strong gold anomalies.
Darius 4 Multiple parallel longer northwest trending structures, minimal outcrop.
Electra 2 Vein outcropping, short strike extent on surface, weaker alteration, Electra and Faustus topographically separated from other areas.
Faustus 3 Sheeted stringer veining in minimal outcrop.
Gemina 6 Long linear parallel northwest structures, cluster of targets in area with anomalous gold in rocks.
Harmonia 1 Different character, strong alteration and partial historical soil samples indicate anomalous pathfinder elements for an epithermal system.

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:

Drill Hole Gold (g/tonne) Length (feet) Depth (feet) Comments
EMC-8 32.88 5 145 to 150 Hole ended in mineralization
GW-5 37.92 10 335 to 345
CD07-02 2.75 10 65 to 75
CD07-24 9.03 5 75 to 80

Note: Historical drilling was reverse circulation with five foot sample intervals.

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.

Current Work

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.

Please refer to the Discovery Harbour website for further details and results at: www.discoveryharbour.com.

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.

For more information, please visit the Company's website at www.discoveryharbour.com.

ON BEHALF OF THE BOARD OF Discovery Harbour Resources Corp.

"Mark Fields"

Mark Fields
President and Chief Executive Officer
Discovery Harbour Resources Corp.
Tel: (604) 681-3170
Fax: (604) 681-3552

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.

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



To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1559/51273_6d03805324be3a03_002full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51273


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