Discovery Ventures Inc.

October 04, 2011 03:01 ET

Discovery Ventures Inc.: Drilling Now Underway on Copper/Silver Prospect at La Sarita, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2011) - Discovery Ventures Inc. ("Discovery") (TSX VENTURE:DVN) wishes to report that it has been informed by the operator that drilling on the Copper/Silver prospect at La Sarita, Mexico is now underway. This phase of drilling will consist of approximately 1,800 metres of drilling covering 6 holes.

Discovery Ventures Inc. recently announced (September 19th, 2011) that it completed the first phase of drill preperations on the La Sarita, Mexico. Phase 1 consisted of geological mapping and grid soil sampling work on its La Sarita project in Sonora Mexico. This phase of work also included a 3D IP (induced polarization) survey to define sub surface geological structures, (completed) surface and underground sampling.

The La Sarita project contains copper/silver mineralization over a recorded strike length of at least 2.4 km with indications of depth of 100 to 500 meters. Currently the company is waiting for detailed sampling results throughout the property to come back from the lab in order to identify more drill targets.

Discovery Ventures Inc. recently announced (September 9th, 2011)Dr. R. H. McMillan's P.Geo.'s recent visit to the property. He gives us a table below recommending diamond drill holes to test the current top-priority targets. All reference points are to the ground IP-magnetic survey grid. Recommended holes D, E and F are designed to constitute a "fence" to test for supergene and hypogene skarn-manto type mineralization that might be the source causing the strong IP-magnetic anomaly at the west-central portion of the property. Outcrop in the area contains leached boxwork silica and garnet skarn suggesting intense supergene leaching of sulphide-rich material. Stratigraphy strikes 025 degrees, dipping 85 degrees SE.

Hole # Location Az (Dip) Length Technical Justification for Target
A 2+00W, top of hill (-90) 250 Site 2 - high grade Cu-Ag skarn-manto below porphyritic ignimbrite cover
B 15+50N, 08+00W (-90) 300 Cu showing in intrusive, chargeability >30 ms
C 16+40N, 02+50W 000 (-50) 200 Site 1 - high grade Cu-Ag skarn-manto
D 23+00N, 10+00W 110 (-45) 350 Chargeability >35ms, magnetic variability, possible supergene enriched Cu-Ag skarn-manto, stratabound Cu on surface on strike to NE
E 23+00N, 06+50W 290 (-45) 350
F 23+00N, 12+00W 110 (-45) 350
Total 1,800

The property encompasses a number of historic small-scale artisanal type mining operations dating back to the late 1800s with both underground and surface workings. Sonora Mexico is home to the Cananea and the La Caridad mines two large scale copper mines. The Cananea (90 miles north west of the La Sarita) is one of the largest open pit mines in the world and having opened in 1899 one of the oldest in North America. La Caridad includes a copper mine and concentrator, as well as a smelter, refinery and rod plant and is located 35 miles north of La Sarita.

President David Rees stated, "It is exciting to finally be underway on the La Sarita Copper/Silver prospect. The La Sarita is DVN's flagship prospect and has had recent samples as high 3.8 % Copper and 22.6 ounce per ton Silver. Management is eagerly anxious to get the drill results back from this drill program. With Copper and Silver near all time highs, this is a very exciting time to commence drilling on the La Sarita prospect, not to mention the close proximity to two very large Copper mines."

About Discovery Ventures Inc. Shares issued: 17,866,320

Discovery Ventures Inc explores for and develops 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 totaled 4.15 million ounces of gold from 52 separate veins; a value at current prices exceeding 5 billion dollars; 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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