Eight Diamond Drill Holes Completed At The Cordero Project

TORONTO – Discovery Metals Corp. reported that eight diamond drill holes have been completed at its flagship Cordero project located in Chihuahua State, Mexico. The holes are part of a 30,000-35,000 meter (m) Phase 1 drill program that commenced in September 2019. The goal of this program is to define a high-margin project with scale that retains excellent leverage to rising metal prices. Drill holes were focused on defining and extending the higher-grade mineralized footprint to the north-east and south-west of the previously defined limits of the Pozo de Plata zone.

Taj Singh, President and CEO, said, “These drill results continue to illustrate the strongly mineralized footprint at Cordero. Hole C20-319, the furthest north-east hole drilled by Discovery for which assays have been received, intercepted 168.8 m of 207 g/t AgEq1 (70 g/t Ag, 0.10 g/t Au, 1.5% Pb and 1.9% Zn). Hole C20-317, the Company’s furthest south-west hole drilled to date, intercepted 79.0 m of 159 AgEq1 g/t (90 g/t Ag, 0.22 g/t Au, 0.9% Pb and 0.5% Zn). In total there is approximately 1,250 m of strike extent between these two holes. This not only demonstrates the sheer scale of the mineralized system but the broad widths and excellent grades near-surface also highlight the high-margin potential that exists at Cordero.”

48 holes totaling 17,500 m have been completed to date at Cordero. Assays from 16 holes are pending. All holes have been drilled roughly perpendicular to the main structural north-east trend of higher-grade mineralization. Initial drilling from the Phase 1 drill program was focused on understanding the mineralizing controls in the Cordero system. Drill holes for this current release were focused on testing and defining the mineralization potential to the north-east and the south-west of the core Pozo de Plata zone. Drilling north-east of Pozo de Plata confirmed broad zones of silver-rich breccia mineralization across a strike length along this extension of approximately 600 m. Hole C20-319, the northeastern-most hole drilled by the Company for which assay results have been received, intercepted 168.8 m of 207 g/t AgEq1 (70 g/t Ag, 0.10 g/t Au, 1.5% Pb and 1.9% Zn).  The remaining holes in this news release drilled along this north-east trend also intercepted wide zones of breccia-hosted mineralization. Subsequent drilling has targeted mineralization further north-east of hole C20-319.

The Company announced on March 31, 2020, that it had temporarily suspended all exploration activities at its Mexican operations due to the increased health and safety risks associated with the growing number of COVID-19 cases in the country. The shutdown is expected to last until the end of this month, as per the most recent administrative order from the Federal Government of Mexico suspending all non-essential business activities until that date. The Company has put in place business continuity plans so that exploration activity can quickly ramp up once it is deemed safe to do so.