Discovery Silver Demonstrates Expansion Potential at Cordero

Discovery Silver announced the drilling results of its Phase 2 drill program at the Cordero Silver project in Chihuahua. The latest 26 holes were formed through upgrade and expansion drilling to support a Pre-Feasibility Study (PFS) planned for early 2023.

“The completion of our Phase 2 drill program, consisting of close to 80,000m in over 250 drill holes, represents another major milestone in the advancement of our Cordero project,” said Tony Makuch, Interim CEO, Discovery Silver. Moreover, he reported that this program consistently intercepted mineralization beneath and to the northeast of the open pit outlined in last year’s Preliminary Economic Assessment (PEA), highlighting the potential to expand the size of the open pit in the company’s upcoming PFS. 

The final set of Phase 2 drill holes focused on two main areas: upgrade and expansion drilling of the PEA open pit and expansion drilling of the resource at depth in the northeast of the deposit. 

“Our PFS is now expected to be completed in early 2023, a slight delay from our original target of mid to late 4Q 2022. The additional time will allow us to further optimize the study to incorporate recent positive metallurgical developments,” added Makuch.

The highlight intercepts include 58.3m of 208g/t silver equivalent from 78.1m and 48.3m of 231g/t silver equivalent from 147.6m in both intercepts from well C22-614. It also intercepted 50m of 109g/t silver equivalent from 140.0 m in well C22-613. 

“Drilling continues to be successful in demonstrating the continuity of mineralization beneath the resource pit constraint highlighting the potential to expand the resource at depth in the northeast of the deposit,” the company reported.

Cordero, located in the northern part of a prolific mining belt in Chihuahua, is one of the largest silver deposits in the world and is 100 percent owned by Discovery Silver. According to the company, Cordero has the potential to be developed into a highly capital-efficient mine that offers a combination of margin, size and scalability. 

In addition, recently the company reported that it seeks to further highlight its strong environmental and social commitment this year by strengthening its ESG approach. Discovery highlighted that its ESG 2021 report is expected to be released in the summer, while certifications such as the International Association for Sustainable Economy (IASE) are expected to be obtained in 2H22.

In an interview with MBN, Taj Singh, President, CEO and Director, Discovery Silver, said Discovery Silver is “committed to improving the lives of its host communities in every possible way. We have been very active in carrying out social and environmental programs in the area, regularly providing educational support and basic supplies to families in need and carrying out extensive environmental and ecological studies with a focus on rehabilitation and improvement. As always, we seek to always improve to deliver more.”