Discovery Ventures Inc.: WillaMAX Project Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 4, 2014) - Discovery Ventures Inc. (TSX VENTURE:DVN)(FRANKFURT:ODV) ("Discovery" or the "Company"), is pleased to announce the following WillaMAX Project update. Several project-related tasks have been initiated and some have now been completed, including;
LiDAR Survey
Eagle Mapping Ltd. has completed an aerial LiDAR survey over the Willa Property. The survey, and accompanying digital photography is used to create accurate maps for the roughly 12.5-sq km project area. Aerial LiDAR systems provide very accurate measurements of topography and allow for detailed 'bare-earth' topographic maps to be generated. In addition to providing mapping to 1-m contouring, the survey has also provided an accurate digital terrain model (DTM). The DTM has also been used to complement an updated mine model by allowing for direct reconciliation of drill hole collars, improving the accuracy of the dataset within the model.
Airphoto Interpretation and Hazard Mapping
The Company has engaged Sitkum Consulting Ltd., a geoscience firm based in Nelson, BC to review the project imagery described above and to ground-proof various slopes for potential avalanche and terrain mapping. Sitkum will produce a terrain map that will assist in the design of access and other facilities at the site.
Water Quality Monitoring
Discovery has engaged Masse Environmental Consultants Ltd. of Nelson, BC to initiate detailed baseline water quality monitoring program and to complete a review of historical data collected at the site. The program has been designed and coordinated with assistance from local area residential water users.
Community Engagement Activities
The Company has previously announced the engagement of Vanessa Freberg as Community Engagement Manager for the project. Vanessa has commenced local outreach and recently coordinated an open house in the community of Trout Lake, BC. The Company will expand on these activities as the project proceeds toward permitting.
MAX Mill Improvements
Sundown Holdings Inc. (Sundown) of Kelowna, BC, has recently completed work at the MAX site. The MAX mill, camps and offices have been on care and maintenance since the end of 2011 and Sundown completed repairs, maintenance and basic modifications to some of the systems in preparation for a larger package of modifications planned for 2015. Sundown was the original contractor who moved and constructed the mill in 2006 and 2007 and also assisted during operations at MAX by providing millwrights and operators to the operation.
About Discovery
Discovery is an exploration and development stage company focused on the WillaMAX project that is prospective for gold. A summary of the project is provided in a recent WillaMAX Preliminary Economic Assessment (PEA) released May 26, 2014 as amended June 20, 2014 prepared by Wayne M. Ash, P.Eng. The WillaMAX project would combine the Willa copper-gold resource with processing facilities at the MAX Mine, both located in southeast BC. Due diligence is underway for project financing that is anticipated to facilitate the completion of key acquisitions and advance engineering and permitting work for both sites. The MAX Mine acquisition includes existing permits, a modern mill & concentrator and sizeable tax loss pools.
On behalf of the Board of Directors,
Akash Patel, President, CEO and Director, Discovery Ventures Inc.
This press 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. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; and (ii) risks inherent in the mineral exploration industry in general. 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 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.