Discovery Metals is focused on discovering and advancing high-grade silver-zinc–lead carbonate-hosted deposits within a large district in northern Mexico and holds a 1,500km2 land position in Coahuila State.
The projects show widespread evidence of historic mining, dating from Spanish Colonial times through the middle of the 20th century, including shafts, adits, small open cuts and prospect pits. Mineralized material remaining in the walls of workings frequently exceeds 1 kg/t silver and 30% combined lead and zinc using a hand-held Niton Analyzer and conventional grab and chip sampling. With the exception of mechanized trenching by the vendors at Puerto Ric, none of the properties have seen any modern exploration or drilling. All are road accessible. All targets will be assessed as potential milling or direct-ship mining opportunities.
The projects all contain attractive host rocks, intrusive rocks that may have provided a source of heat and fluids, and have high-grade silver-lead-zinc+/-copper/gold mineralization exposed on surface.
Key points related to Mexican CRDs (carbonate replacement deposits) are:
- Deposits occur along ~2,000 km long belt of carbonate rocks from SE Arizona to south-central Mexico
- Fold and thrust architecture controls mineralization
- High temperature Zn-Pb-Ag+/-Cu+/- Au mineralization
- Deposits form mantos and chimneys in Carbonate rocks
- Deposits typically 10-15Mt (can exceed 100Mt in some cases)
- High grade, with weathering down to 50m forming Supergene Non-Sulphide Zinc deposits.
- Polymetallic, with metal contents ranging from 1- 18% Zn, 1-12% Pb, 60-600g/t Ag, up to 2% Cu and 6g/t Au
The Company has 100% control of approximately 120,000 ha nearby / surrounding its advanced projects (Puerto Rico, Minerva, Monclova) with the aim of carrying out reconnaisance and property-level mapping / sampling (rock/soil) and geophysics to continuously generate new prospects / targets. The Company currently has several early-stage properties in this Regional package that possess features similar to its advanced-stage projects (favourable carbonate formation, presence of nearby intrusives, weak / strong surface alteration, compelling dimensional characteristics) and warrant further work.
The key early-stage projects in the Coahuila regional package include the Kika Ag-Zn-Pb project (CRD –style), the Jemi Ag-Zn-Pb and Rare Earth projects (CRD / skarn / quartz sulphide vein styles) and the Renata / Santa Rosa Ag-Zn-Pb projects (CRD-style).
A map showing the location of all of Discovery’s claims in Coahuila is shown below: