Josefina Vein Drilling At Cordero Reported Intersects

TORONTO - Discovery Silver Corp. reported results from 13 diamond drill holes drilled along the Josefina high-grade vein trend at its flagship Cordero project located in Chihuahua State, Mexico. The holes are part of the recently completed Phase 1 drill program. The results from this program will be incorporated in a new resource estimate in 3Q 2021 and PEA in 4Q 2021. Phase 2 drilling is ongoing and is focused on resource definition and expansion.

Taj Singh, President and CEO, said, “These latest drill results from Josefina have returned some of our highest-grade hits to date. With our Phase 1 drilling now complete we have transformed what started as a loosely defined vein with less than 1 km of strike extent into a prominent corridor with two well-defined veins with a total strike extent of more than 2.5 km. Our drilling has also established the presence of higher-grade bulk-tonnage style mineralization adjacent to the Josefina veins which suggests most of the vein trend will likely fall within the open pit. These results have exceeded our expectations and, from modest beginnings, should result in Josefina being a key value driver in the mine plan for our upcoming PEA.”

Highlight intercepts include: 1.1 m averaging 3,934 g/t AgEq1 from 404.8 m (1,570 g/t Ag, 16.25 g/t Au, 7.0% Pb and 19.0% Zn) in hole C21-457; 1.1 m averaging 3,424 g/t AgEq1 from 92.2 m (1,960 g/t Ag, 0.32 g/t Au, 15.4% Pb and 21.6% Zn) within 28.5 m averaging 245 g/t AgEq1 (122 g/t Ag, 0.06 g/t Au, 1.1% Pb and 1.9% Zn) in hole C21-435; 1.2 m averaging 2,789 g/t AgEq1 from 62.4 m (1,480 g/t Ag, 0.22 g/t Au, 13.1% Pb and 20.0% Zn) within 58.8 m averaging 157 g/t AgEq1 (87 g/t Ag, 0.05 g/t Au, 0.9% Pb and 0.8% Zn) in hole C21-437; 1.4 m averaging 2,139 g/t AgEq1 from 288.5 m (1,385 g/t Ag, 0.49 g/t Au, 7.5% Pb and 10.9% Zn) in hole C21-436; 4.5 m averaging 1,179 g/t AgEq1 from 204.5 m (385 g/t Ag, 1.15 g/t Au, 5.9% Pb and 11.9% Zn) in hole C21-435; and 1.3 m averaging 1,374 g/t AgEq1 from 86.0 m (420 g/t Ag, 0.32 g/t Au, 8.8% Pb and 14.9% Zn) in hole C21-459.

The Josefina vein trend consists of two principal southwest-trending subparallel veins with an interpreted combined strike extent of more than 2.5 km. The holes confirm continuity of bonanza grade mineralization along the central part of the vein trend. High-grade veins were intercepted within broader zones of mineralization in the majority of holes pointing to the bulk-tonnage potential in this part of the deposit. The increased density of drilling from the Phase 1 drill program will allow for the veins and bulk-tonnage mineralization to be modeled separately for the resource update to ensure a more accurate estimate of the overall grade and tonnage along the Josefina trend.  

The veins along the Josefina trend dip steeply to the northwest and mineralization typically consists of semi-massive galena, sphalerite and pyrite. Drilling has confirmed the depth continuity of veins at Josefina to at least 400 m below surface. The vein trend is open at depth below this.