Discovery Ventures Inc.

Discovery Ventures Inc.

September 09, 2014 08:30 ET

Discovery Ventures Inc. Plans to Refine Geological Resource Model for Willa

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 9, 2014) - Discovery Ventures Inc. (TSX VENTURE:DVN)(FRANKFURT:ODV) ("Discovery" or the "Company"), is pleased to announce that it has recently engaged Micon International Limited, a Vancouver, B.C. based geology and mining consultancy to update and refine the geological modeling of the Willa Resource.

As previously announced, Eagle Mapping is currently conducting a high-accuracy airborne LiDAR survey to deliver detailed topographic information and a digital terrain model. Once completed, that information will be included in the new modeling to confirm, and if necessary adjust surface drill-hole collar locations within the current drill hole database.

Micon will then continue to refine the drillhole database to determine the domains required to model the deposit in high resolution. Drillhole statistics will be generated to best identify the appropriate mineralized domains, capping of those domains and identifying any hard boundary contacts to be utilized during interpolation. Geostatistics will be undertaken to identify the appropriate mineral resource search radii and their orientation. It is anticipated that the model will be run using inverse distance squared (ID2), inverse distance cubed (ID3) and ordinary kriging (OK) for comparison purposes. The work will be conducted by Micon under the supervision of Mr. David Makepeace, P.Eng. and Tom Stubens, P.Eng. Mr. Makepeace has been involved in Willa project exploration work, including drilling and resource estimates since 2003. He has significant hands-on experience with the Willa project and has reviewed all of the historical exploration activities and results undertaken to date.

The Company's President, Akash Patel, commented: "This is an important step forward for our WillaMax Project and our business model."

About Discovery

Discovery is an exploration and development stage company focused on the WillaMAX project which is prospective for gold. A summary of the project is provided in a recent WillaMAX Preliminary Economic Assessment (PEA) released May 26, 2014 as amended June 20, 2014 prepared by Wayne M. Ash, P.Eng. The WillaMAX project would combine the Willa copper-gold resource with processing facilities at the MAX Mine, both located in south east BC. Due diligence is underway for project financing that is anticipated to facilitate the completion of key acquisitions and advance engineering and permitting work for both sites. The MAX Mine acquisition includes existing permits, a modern mill & concentrator and sizeable tax loss pools.

On behalf of the Board of Directors,

Akash Patel, President, CEO and Director, Discovery Ventures Inc.

This press release contains forward-looking information that involve 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. 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: (i) adverse market conditions; and (ii) risks inherent in the mineral exploration industry in general. 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 does not intend to update these forward-looking statements.

Neither 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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