Discovery Harbour Expands Caldera, Nevada Property, Completes Encouraging Mapping Program
January 4, 2018
Vancouver, British Columbia – January 4, 2018 – Discovery Harbour Resources Corp. (TSXV:DHR) (“ Discovery Harbour ” or the “ Company ” ) is pleased to announce it has acquired , through staking , an additional 163 mineral claims to expand its property position at the Caldera epithermal gold p roject in Nevada. Discovery Harbour now controls an area of approximately six km by four km covering multiple gold targets . Additionally a recently completed mapping program successfully delineated a number of structures and alteration patterns , including low temperature clay minerals, that are key elem ents to identify an epithermal gold deposit on the Caldera Project .
Mark Fields, Interim President & CEO, stated “Discovery Ha rbour has spent the better part of 2017 restructuring the company, including its share capital , and completing the necessary work to advance its key asset, the Caldera gold project. The staking has enlarged the project to incorporate the full extents of the recognized epithermal system . Addi tionally the mapping program confirmed the prospectivity by providing evidence that the target bonanza gold – silver zone is preserved and has not been er oded after its formation . Our intent is to conduct a drill program test ing down to depths between 150 to 30 0m , well beyond the depths tested by previous drilling , to intersect the “ boiling zone” where bonanza grade s have the best opportunity of occurring . I believe we are now well positioned from both a company and project perspective for a successful 2018”.
A description of the current and historical data on the Caldera gold project is now available on our website at www.discoveryharbour.com. A summary of the project highlights includes :
- The Caldera gold project is located at the intersection of the Walker Lane and Northumberland Gold Belts, Nevada.
- Discovery Harbour mapping in 2017 detailed key structures and alteration.
- The mapping program concluded “General observations including boiling textures, sheeted-stockwork, narrow veins and an interpreted silicified maar, indicating a paleosurface, reinforce the premise of a preserved low sulphidation epithermal system with good exploration potential at depth.”
- Spectrometer analysis of samples taken during the mapping program confirmed that the clay alteration minerals are low temperature products characteristic of the distal and shallow levels of a low sulphidation epithermal gold system.
- Discovery Harbour staking has expanded the project to cover possible extensions of gold mineralization and it now controls 100% of approximately 24 square kilometres over the key low sulphidation epithermal gold targets, subject to a 2% net smelter royalty over the core areas.
- Historical work includes small scale gold production, shallow drilling and extensive rock and soil sampling by multiple parties.
- Shallow drilling to an average depth of less than 100m has intercepted numerous multi-gram gold intercepts over five feet or more (see our website for a listing of the highlights) in six different zones;
- Rock sampling includes 804 rock chip samples of which 74 are over 5 g/t gold and 367 are over 1g/t gold.
- Soil sampling has partially defined gold anomalies over mapped structures as well as the pathfinder elements mercury, antimony and arsenic in several areas.
- The Caldera gold project was generated by Don Merrick and John Zimmerman of Genesis Gold Corp, a private Utah company specializing in gold exploration in the Western US (www.genesisgoldcorp.com), the foundation of which are the claims first staked by Zsolt Rosta.
- Discovery Harbour is currently planning its 2018 work programs, which includes drilling.
Mark Fields, P.Geo., 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.
ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.
Interim President & CEO
Disclaimer for Forward-Looking Information
This news 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 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, or (iii) 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 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.