Discovery Minerals Applauds Geological Team's Review of Ruby Gold Mine and Work Program

Rhea-AI Summary

Discovery Minerals (OTC PINK:DSCR) has completed a geological review of the Ruby Gold Mine in Northern California. The mine, which operated from 1878 to 1965, is set for reactivation based on the potential of sub-½ ounce alluvial gold, unworked paleo river channels, and bedrock gold near quartz lodes. The company aims to create a 3D model to better understand the geological structure and gold distribution. Future drilling will focus on quartz lode and placer exploration to gauge the mine's gold production potential.

Positive

• Completion of geological review indicates potential for gold production.
• Plans to reactivate the Ruby Gold Mine could lead to increased revenue.
• Focus on modern geophysics and drilling may enhance exploration efficiency.

Negative

• Reliance on historical data could pose risks due to potential inaccuracies.
• Forward-looking statements indicate uncertainty in achieving projected results.

Discovery Minerals applauds the results of their Geological team's evaluation of the Ruby Gold mine.

GRASS VALLEY, CA / ACCESSWIRE / June 22, 2021 / Discovery Minerals LTD (OTC PINK:DSCR), the precious metals exploration and production company, is pleased to announce the completion of their geological review and work program for the Ruby Gold Mine on the widely known " Mother Lode " in Northern California.

Discovery Minerals plans to re activate the Ruby Gold mine which worked deep lead (channel) placer gold over an extended period between 1878 and 1965. The mine development concept rests on three factors a) that sub ½ ounce alluvial gold which was considered waste rock over much of the mine's history remains in place or as backfill b) that several kilometres of unworked paleo river channels remain to be mined as well and c) bedrock gold associated with orogenic type gold mineralised quartz lodes underlying and in close proximity to the buried gravel channels remain in place.

The current work objective is to compile a three-dimensional model of the topography and historical data including the base of the overlying volcanics (post deep lead cover rocks), the gold bearing conglomeratic river channels from historical plans, the top of bedrock and within the basement metamorphic and greenstone geology (from underground workings and define the broad location, width, and orientation of known quartz-gold lode structures. The Company CEO, Russell Smith, stated that with the use of modern Geophysics and drilling the Company will transform the gold bearing gravel mining operation into a major gold producing area over time.

Geological Summary

The Ruby Claims geology can be summarised as comprising three key components.

1. Basement geology comprised of steeply dipping to vertical metamorphic schists, phylllite, carbonates and quartzites cut by greenstone which are the products of the serpentinization of diorites and/or amphibolite's emplaced into deep seated N-S trending fault structures. Quartz lode structures typical of orogenic gold systems tend to develop near the greenstone units, and along the quartz lodes high-grade gold +/- arsenopyrite and pyrite ore shoots occur over intervals measured in terms of 10's to 100's of metres strike length. The presence of bright green mariposite - a chrome rich mica, is perceived to be an indicator of quartz lode gold grade potential.
2. Pre-volcanic deep lead conglomeratic fluvial deposits deposited on the eroded and apparently peneplaned metamorphic basement geology. The lowest of these meandering fossilised river channels which trend from north to south deviating to the west between greenstone units, where the gravels rest directly on the metamorphic bedrock tend to contain the highest concentration of particulate gold and the largest gold slugs or nuggets. As sedimentation continued other meandering river channels developed interbedded with finer grained fluvial sediments, some of which cut down though the older river channels others were perched on basement ledges as higher levels. Other younger less mineralised or barren river channels occur within the overlying volcanic stratigraphy. In a broad sense the channels mapped out by Alling coupled with their relative levels based on where the channels crop out on surface suggest that the southerly trending and coalescing river courses skirted around a central N-S trending ridge of higher basement - a ridge that appears to broadly coincide with the presumed trend of known quartz lodes in the basement stratigraphy.
3. Tertiary volcanics overly the paleo river channels, and fluvial deposits are comprised of ash units, laharic deposits, crystal tuffs and lavas. Older volcanic units tend to be rhyolitic and the result of explosive volcanic activity trending with time to andesitic tuffs and lahars and finally overlain by basaltic andesite to basaltic effusive lavas. The volcanic activity occurred during a period of rapid uplift and as a result deep channels were eroded through the older volcanic stratigraphy and fluvial deposits resulting in a partial destruction of the river channel stratigraphy. Notably: white or chocolate coloured ‘pipe rock' after rhyolitic ash deposits mark the start of the volcanic events and often mark the top of the deeper / older better gold grading paleo river channels.

Each of these geological components are to be found within the Ruby area, exposed by deeply incised gorges that trend E to W, cross cutting through to the basement stratigraphy. Remnants of the overlying Tertiary volcanics cap the ridge line ranging up to 200m thick locally, but exposures of the underlying gravels and basement on valley margins indicate that the pre volcanic topography was very uneven within volcanics lying directly on the basement stratigraphy in most areas. Remnants of the pre volcanic fluvial grave deposits exposed on the valley sides have been worked by hydraulic mining methods (bolder terraces) and often have tunnels driven into the hill side to work the concealed drifts close by. The result is a complex interplay between erosion surfaces and fluvial / volcanic deposits on the basement metamorphics.

Recommendations

Completion of the data compilation and if possible acquiring maps illustrating the extent of the workings between the Carson and Ruby mines is considered a priority prior to finalising a drill proposal for the project. If this data is not available geophysical exploration including a) deep penetrating radar and b) shallow seismic mapping is advised to gain information on the basement/gravel and gravel/volcanic interfaces, perhaps broadly map out underground openings and possibly define where more competent quartz lode structures coupled with greenstones are localised across the property.

Drill planning following on from the geophysical surveys would aim to achieve the following objectives through drilling from both underground and from surface.

1. Quartz lode exploration - Diamond drilling (minimum HQ core) would perhaps be the best method for gaining bed rock - Quartz lode geology information from underground coupled with end of hole diamond drilling from surface.
2. Placer exploration - Inclined (-60 degree) holes to the east drilled from surface along at least three E-W section lines, starting with RC collar though to the anticipated base of volcanic/barren channels, followed by diamond drilling through the gold bearing gravels and fluvial deposits into the basement with further extensions for holes that are expected to test for quartz lode geology as well.

Though these are only preliminary recommendations it is readily apparent that more information must be added to the historical data to complete a precise evaluation of both the placer and bed rock lode gold potential. De-risking the project though data acquisition should be considered a priority.

Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.

Discovery Minerals Ltd.
Russell Smith
admin@discoveryminerals.com
310 607 8252

SOURCE: Discovery Minerals Ltd.

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FAQ

What is the significance of the geological review for Discovery Minerals (DSCR)?

The geological review highlights the potential for reactivating the Ruby Gold Mine, suggesting possible gold deposits and increased revenue.

What are the next steps for DSCR after the Ruby Gold Mine evaluation?

The company plans to compile a 3D geological model and commence drilling for quartz lode and placer exploration.

When did the Ruby Gold Mine operate?

The Ruby Gold Mine operated from 1878 to 1965.

What geological features are being explored at the Ruby Gold Mine?

The exploration focuses on sub-½ ounce alluvial gold, unworked paleo river channels, and bedrock gold near quartz lodes.