Discovery Ventures - MAX Mill Improvements Underway
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 23, 2014) - Discovery Ventures Inc. (TSX VENTURE:DVN)(FRANKFURT:0DV) ("Discovery" or the "Company"), announces it has engaged Sundown Holdings Inc. (Sundown) of Kelowna, BC, to commence various maintenance and upgrades to the MAX Mill. Sundown was the original contractor who moved and constructed the mill in 2006 and 2007. Sundown also assisted during operations at MAX by providing millwrights and operators to FortyTwo Metals Inc. During that period the mill demonstrated high availability, in excess of 97% to the operation, a testament to its successful re-construction at MAX.
The MAX mill, camps and offices have been on care and maintenance since the end of 2011 and Sundown's scope of work initially includes repairing and renovating some of the structures that have suffered roof damage since that time. Other tasks include repairs and basic modifications to some of the systems in the plant as preparation for a larger package of modifications planned to be done in 2015. No production will commence during this time.
About Discovery
Discovery is an exploration and development stage company focused on the WillaMAX project, which is prospective for gold, copper and silver. 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 south east 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.
