Discovery Ventures Inc.-Willa Permit Received
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 24, 2014) - Discovery Ventures Inc. (TSX VENTURE:DVN)(FRANKFURT:ODV) ("Discovery" or the "Company"), is pleased to announce that it is in receipt of Mines Act Permit MX-5-786, approved by the Ministry of Energy and Mines, to undertake its planned underground sampling and mapping activities at the Willa Project, near Silverton, BC.
Willa Underground Exploration Program 2014
The Company will conduct an underground percussion drilling campaign to collect new samples from the Willa resource. The drilling will be used to composite a metallurgical sample that will be further processed such that a final tailings product can be geochemically characterized in the lab. The results of the tailings characterization studies will be presented in future studies and applications for the proposed WillaMAX project and will form an important part of future planning.
Access to the Willa development has been intentionally blocked since 2005 and re-entering the underground workings will provide an opportunity for the Company and its consultant to verify current ground conditions. While these are assumed to be excellent based on historical information, a geotechnical review will also be completed during this program.
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.
