Discovery Ventures Inc.

April 12, 2012 08:00 ET

Discovery Ventures Inc. Announces the Acquisition of A Gold-Copper Property in the Vicinity of Taseko's Prosperity Copper Deposit, BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 12, 2012) - Discovery Ventures Inc. ("Discovery", "DVN" or the "Company") (TSX VENTURE:DVN) is pleased to announce that it has acquired an option to earn a 50% interest in the Big Creek property located approximately 47 kilometres north east of the Taseko Mines (TKO) Prosperity Porphyry copper deposit. The Prosperity deposit is a Gold-Copper porphyry with a 1.0 billion tonne measured and indicated resource with grades of 0.41 g/t gold and .24% copper.

Discovery has targeted this general area as having the potential to host other significant Copper-Gold porphyry. The Big Creek property consists of 15 claims and has an attractive target that is defined by a 300 nT magnetic low. The dimensions of the magnetic low are 8 km N-S by 4 km E-W. This magnetic low appears to be split by a NNW to SSE trending fault passing through its centre. In addition a strong gravity low is coincident with the magnetic low, indicating an intrusive centre.

Discovery will begin an initial exploration program on the Big Creek property this spring. New discoveries and modelling have indicated possible areas of British Columbia that were previously overlooked in the past. Discovery is hoping to option other properties that offer similar exploration potential.

Mr. Mike England states, "I am quite optimistic about this acquisition for Discovery. The potential that exists here is quite exciting with having so much success near by with Prosperity's big Gold-Copper porphyry discovery".

The technical contents of this release were approved by Marvin Mitchell, P.Eng., a qualified person as defined by National Instrument 43-101.

About Discovery Ventures Inc. Shares issued: 19,842,418

Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada, and Sonora, Mexico. The Company is currently focused on three core assets including the Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; The Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totalled 4.15 million ounces of gold from 52 separate veins; and the La Sarita mining concessions located 100 miles south of the US/Mexico border, 20 km southeast of the town of Moctezuma.

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Michael England, President

This press release contains projections and 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 such as the statement that the closing of the Agreement may occur and that the option may be exercised. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the agreement for any reason. 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.

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Discovery Ventures Inc.
    Michael England
    1-604-683-3995 or Toll Free: 1-888-945-4770