Discovery Harbour Resources Announces Gold Intercepts from Drill Program on Caldera Gold Property, Nevada

2021-11-22 07:11:05

Vancouver, British Columbia–(Newsfile Corp. – November 22, 2021) – Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the “Company” or “Discovery Harbour“) announces that results from the final four of five drill holes have been received from the Company’s Caldera drill program. Selected core from each of the five holes was sent for analysis. Gold was intercepted in drill holes CP21-02, 04 and 05. Drill hole CP21-02 has a best result of 2.40 grams gold per tonne (g/t) and 187 ppm silver over 1.5 metres and extensive intervals of anomalous gold. Drill hole CP21-04 has a best result of 2.71 gold g/t over 1.2 metres, other intervals of over 1 gold g/t and extensive intervals of anomalous gold. Drill hole CP21-05 has a best result of 1.53 g/t over 0.9 metres and anomalous gold in several other intervals. The drillholes each intersected primarily volcanic tuffs, with zones of moderate to strong propylitic and argillic alteration and multiple fault zones.

Mark Fields, President & CEO, comments: “Encouraging gold values were intersected in three of the five drill holes, which were drilled in three very separate areas of the Caldera property. Some, but not all, of the extensive faulted and altered intervals carried multiple intersections in excess of one gram gold per tonne with other intercepts of anomalous gold values, all of which occurred from both shallow and deeper parts of the drill holes. Although we did not intersect the type of bonanza zone we were hoping for, the results point to the gold fertile nature of the mineralizing system at Caldera. We will use the extensive analytical data we have gathered as well as the geological and spectrometer data to better understand the low sulphidation epithermal gold system at Caldera and determine the next steps. In addition, we are looking forward to Newcrest’s drill program, which, subject to drill rig availability, is planned to begin in January for the Fortuity 89 property (see news release October 28,2021).”

Selected Results, Drill Holes CP21-02 to CP21-05

Drill Hole From (m) To
Interval (m) Gold
Arsenic (ppm) Antimony (ppm) Mercury (ppm) Comment
CP21-02 1.5 15.9 14.4 212 6.6 242 26 0.031 Healed breccia clasts, strong argillic alteration, fault gouge, welded tuff
  137.5 163.1 25.6 393 19.1 395 12 0.028 Clay gouge in fault, strongly altered
Includes 139.0 140.5 1.5 2,400
(2.40 g/t)
(187 g/t)
475 60 0.164  
CP21-03                 No significant results
CP21-04 9.8 11.0 1.2 2710
(2.71 g/t)
15.2 209 193 1.115 Iron stained clay with quartz vein clasts
  92.3 94.9 2.6 951 15.9 78 31 1.000 Fault zone, lithic tuff clasts in clay matrix
  164.6 168.5 3.9 562 2.1 17 4 0.111 Highly altered lithic tuff with tan clay seams
  196.4 197.8 1.4 1,285
(1.285 g/t)
4.4 11 4 0.072 Fault zone, tuff clasts in rock flour – clay gouge
CP21-05 110.0 110.9 0.9 1,525
(1.525 g/t)
51.2 100 10 Pending Altered ash flow tuff
  158.8 160.0 1.2 0.866 8.8 23 21 Pending Highly altered / broken lithic tuff, oxidized pyrite veinlets
  173.1 174.3 1.2 0.529 2.7 23 nd Pending Fault zone, rounded clasts lithic tuff in clay gouge

m: metres
ppb: parts per billion
ppm: parts per million
nd: not detected
See news release Oct 25, 2021 for results from drill hole CP21-01

The Company completed drilling a total of slightly over 1900 metres, testing five low sulphidation epithermal gold targets (see map below) on the Caldera Property. Each hole was deeper than any previous drilling on Caldera and each site was selected to test the boiling zone, typically found at approximately 300+ metres below the paleo-surface, where precious metals are concentrated. The Caldera gold property lies in a fertile gold region at the intersection of the Walker Lane and Northumberland Gold Belts northwest of Tonopah, Nevada.

Junior Mining NetworkFigure 1

Quality control/quality assurance

Core samples summarized in this news release and for the entire Caldera 2021 drill program were collected under the supervision of a geologist at the drilling rig. Drilling was completed using primarily HQ (63.5mm) diameter core, and NQ (47.6mm) diameter core for a portion of CP21-05.

Core logging was conducted on the property followed by shipment either to a core cutting facility in Elko, Nevada or to storage in Tonopah, Nevada. Core samples selected for assay were sawed in half, sending half to the ALS Global sample preparation lab in Elko, Nevada and the remaining half is retained for future reference. ALS Global crushed and pulverized the samples to >85% passing a 75 micron screen (ALS PREP-31). Sample pulps were then shipped by ALS Global to their analytical labs in Reno, Nevada and North Vancouver, BC for fire assay for gold (Au-ICP21 package) four acid digestion with ICP-OES finish (ME-ICP61 package for trace elements, and Hg-MS42 for mercury). One sample in hole CP21-02 was run for silver via the Ag-OG62 since it was over limit for the original method.

Samples were generally 1.52 metres (5 feet) core length, however varied from 0.61 metres to 3.05 metres based on stratigraphy, alteration, mineralization, and core recovery. Standards were introduced at a rate of 1 standard per 20 samples.

Alan Morris, CPG, 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.

About Discovery Harbour

Discovery Harbour is focused on sourcing, exploring and developing mineral properties in mining-friendly jurisdictions. Its current primary focus is the drill program on Caldera, a low sulphidation epithermal gold project in Nevada. Additionally, Discovery Harbour has an agreement with Newcrest Mining Limited on its Fortuity 89 property in Nevada.


“Mark Fields”

Mark Fields, B. Sc. (Geology), B.Comm.(Hon.)
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, (iii) permitting requirements or (iv) 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.

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