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

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






June 22, 2021 – Discovery Minerals LTD (OTC: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 m ine 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

DISCOVERY MINERALS ANNOUNCES OFFICIAL LAUNCH OF THE DISCOVERY MINERALS COIN.

GRASS VALLEY, CA / ACCESSWIRE / May 11, 2021 / Discovery Minerals LTD (OTC PINK:DSCR), the precious metals exploration and production company, is pleased to announce the launch of it’s Discovery Minerals Coin, a utility cryptocurrency.

The Discovery Minerals Coin (“DSC”) is what is known as a Tethered Coin, whereby once fully distributed DSC will have a total of 2,100 Bitcoin, 2,100 Ethereum, 2,100 ounces of Gold, and 2,100 ounces of silver “backing” the coin.

For more information on the Discovery Minerals Coin please go directly to the company’s website https://discoverymineralscoin.com/ . Upon the completion of this initial phase, the Company plans on listing the Discovery Minerals Coin (DSC) on various centralized and decentralized cryptocurrency exchanges.

“We have already generated a significant amount of interest for the purchase of the Discovery Minerals Coin, and its utility as a method of payment will further fuel its demand” said Russell Smith, President and CEO of Discovery Minerals Ltd. “Our coin, coupled with our mineral deposits and developments offers potential long term value creation for our shareholders and stakeholders” further added Mr. Smith.

About Discovery Minerals Ltd

Discovery Minerals Ltd. (OTC PINK: DSCR) is an acquisition and development company that targets natural resource properties and cutting-edge technology opportunities through its subsidiaries. The Board of Directors has determined that these activities be continued with an emphasis on early positive cash flow from any projects undertaken.

About Discovery Minerals Coin : 0xf4a9b9311d5167dc36e6b39f5c0baaa60bbcbbc1

Total Supply : 210,000,000
Phase I Price: $2.00 (50 coin minimum)
Symbol: DSC

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.
Info@discoveryminerals.com

SOURCE: Discovery Minerals Ltd.

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DISCOVERY MINERALS UPDATE ON RUBY MINE

Discovery Minerals Update on Ruby Mine Operations

Discovery engages Senior Geologist, completes additional site assessment indicating increased ore resources in the Ruby Mine quartz greenstone belt

GRASS VALLEY, CA / ACCESSWIRE / May 19, 2021 / Discovery Minerals LTD (OTCQB:DSCR), is an acquisition and development company that targets natural resource properties and cutting edge technology opportunities is pleased to announce that it has engaged Simon Meldrum as Senior Geologist and completed a comprehensive site assessment starting on April 28 and concluding on May 8, 2021. Mr Meldrum will continue with the evaluation of the Project in his office for later publication.

Mr. Meldrum brings over 30 years experience as a Geologist with specific expertise in exploration and reconceptualizing mines with known production, targeting new ore resources, significantly increasing mine yield. It was previously reported that the Ruby produced an estimated 250,000 troy ounces of gold from 1850’s to early 1900s. Furthermore, that 3.5 miles of unmined river channels on the Ruby mining claims have an estimated potential of 370,000 oz of gold yet to be mined from the buried placer, based on historical data. It is factual that by bringing modern mining operations and geological process, this production can be greatly enhanced.

The main focus of the May 8th investigation was to inspect existing mining equipment and resources in place to advance the mining plan as well as plan for additional geological exploration to identify additional ore resources. The most exciting aspect of new exploration are four quartz occurrences in the greenstone belt. Only one of these occurrences, the Wolf Vein has been mined. The Wolf vein produced 1,600 oz of gold by the earlier miners from the vertical greenstone formation that underlies the buried river channels. The Wolf vein winze runs to a depth of approximately 350 feet below the main access tunnel. This is notable given other proven mines in the Alleghany District produced strong enrichment zones in the quartz belt to a depth of over 3,300 feet. Example : the 16 to One mine that was closed by the Federal Govt. Manpower Act in 1942.

Russell Smith CEO of Discovery Minerals commented: ” The potential for locating additional enrichment zones and ore resources in the greenstone belt has obliged us to reevaluate initial estimates, where we feel we could quite possibly identify 2 to 5 times the currently estimated ore resources. Highlights being looked at include:

  • Four identified quartz veins at the Ruby Mine, where only the Wolf Vein has been explored to 350 feet with most work well above that. Other mines in the surrounding Mining Districts have produced to well over 10,000 feet depth.
  • The 16 to One Mine in its early days produced $3.0 million of gold from quartz reef mining from the Tightner Vein, where mining started 40 years after the quartz was uncovered by drift mining operations.
  • The Empire Mine, in the Grass Valley Mining area produced about 5.8 million ounces of gold. “

Russell Smith , CEO, continues “We have only begun to scratch the surface of what Ruby has to offer Discovery Minerals Shareholders. When you consider the 16 to One mine had one enrichment zone or pocket that produced over $1.0 million of gold you can begin to understand the vast potential of the Ruby Mine. We have seen reports of 10 grams per ton ore produced, but pockets in other mines close by have produced grades of over 10 oz per ton. Repeatedly. This is quite incredible. I am extremely pleased that we were able to recruit Simon Meldrum as I consider him one of the foremost experts in the world for reconceptualizing existing & previous mining operations to identify additional ore resources. I sincerely feel there is no better person to help maximize the potential of this operation”

Discovery Minerals expects to commence mining operations by July-August, 2021 to begin physical mining as well as winterize operations for year round mining and treatment.

For more information on the DSC coin, please go to: https://discoverymineralscoin.com/

About Discovery Minerals Ltd.
Discovery Minerals Ltd. (OTC PINK:DSCR) is an acquisition and development company that targets natural resource properties and cutting edge technology opportunities through its subsidiaries. The Board of Directors has determined that these activities be continued with an emphasis on early positive cash flow from any projects undertaken.

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.

Authorized by Russell Smith, CEO.

Contact:
Discovery Minerals Ltd.
Info@discoveryminerals.com

SOURCE: Discovery Minerals Ltd.

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https://www.accesswire.com/648087/Discovery-Minerals-Update-on-Ruby-Mine

DISCOVERY MINERALS SELECTS ALT 5 SIGMA FOR THE DEVELOPMENT OF ITS DISCOVERY COIN AND PAYMENT GATEWAY

GRASS VALLEY, CA / ACCESSWIRE / April 20, 2021 / Discovery Minerals LTD (OTC PINK:DSCR), the precious metals exploration and production company, is pleased to announce the selection of Alt 5 Sigma Inc., for the development of its Discovery Coin (“DSG”) and Payment Gateway. The goal for creation of a gold-backed Discovery Coin is for revenue diversification to create liquidity and assist in monetizing gold resources

According to the agreement, Alt 5 Sigma plans to mint a total of 210 million of the Discovery Gold Coins onto the Ethereum Blockchain with DSG. Once fully subscribed, the intent is for the Discovery Gold Coin to be tethered to 2,100 Bitcoins, 2,100 Ethers, 2,100 ounces of physical gold and 2,100 ounces of physical silver. In addition to the minting of the coin, Alt 5 Sigma will assist the company with payment processing, secondary listing, as well as deploying a merchant payment gateway using their proprietary technology, enabling merchants globally to accept Discovery Gold Coin as payments.

“We have been exploring the creation of a gold-backed coin, leveraging gold reserve assets in mining claims. Alt 5 Sigma’s team and technology has really set themselves apart when it came time to select a blockchain technology provider,” said Russel Smith, President and CEO of Discovery Minerals. “The Discovery Gold Coin is a great opportunity for both our shareholders and holders of the Coins alike. As the Ruby gold mine consolidates into expanded production, Discovery Minerals Ltd will explore dedicating part of the reserves and production to the Discovery Gold Coin assets. Details of such a transaction are currently being formulated,” further added Mr. Smith. Mr. Andre Beauchesne, Chairman of ALT 5 Sigma, applauded this concept as being positive for both Discovery Gold Coin and Discovery Minerals Ltd .

About Discovery Minerals Ltd

Discovery Minerals Ltd. (OTC PINK: DSCR) is an acquisition and development company that targets natural resource properties and cutting-edge technology opportunities through its subsidiaries. The Board of Directors has determined that these activities be continued with an emphasis on early positive cash flow from any projects undertaken.

About Alt 5 Sigma Inc.

ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency, and compliance.

ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5’s products and services are available to Banks, Broker-Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.

www.alt5sigma.comwww.alt5pro.comwww.alt5pay.comwww.alt5prime.comwww.alt5connect.com

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.

CONTACT:
Alt 5 Sigma Inc.
Andre Beauchesne, President and CEO
info@alt5sigma.com
Tel. 1-888-778-7091

Discovery Minerals Ltd.
Russell Smith
Info@discoveryminerals.com

SOURCE: Discovery Minerals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/641211/Discovery-Minerals-Selects-Alt-5-Sigma-for-the-Development-of-its-Discovery-Coin-and-Payment-Gateway

DISCOVERY MINERALS LTD. UPDATE

LOS ANGELES, CA / ACCESSWIRE / August 23, 2017 / Discovery Minerals Ltd. (OTC PINK: DSCR) has assembled and delivered all relevant documents to the Company CPA for processing of the delinquent financial statements for future posting on OTC Markets.

Discovery Minerals Ltd has signed an LOI on silver, lead and zinc mining property in Ontario, Canada. The Company will review the voluminous data from previous production and diamond drilling with close attention being paid to the silver content in the residual tailings dump on site of approximately 200,000 tons.

Discovery Minerals Ltd is continuing to negotiate on several other mining projects including a substantial gold property located overseas.

About Discovery Minerals Ltd:

Discovery Minerals Ltd., (OTC PINK: DSCR) is an acquisition and development company that targets natural resource properties and cutting edge technology opportunities through its subsidiaries. The Board of Directors has determined that these activities be continued with an emphasis on early positive cash flow from any projects undertaken.

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.

Contact:

Corporate Communications
310-855-2642

SOURCE: Discovery Minerals Ltd.

Discovery Minerals acquires Ruby Mine and commences operations

  • Discovery Minerals (OTCPK:DSCR +14.2%to acquire the Ruby Mine from Sierra Gold.
  • The Ruby is one of California’s best-known buried placer mines, and is considered by many to be one of the largest producing river channel mines of modern times.
  • Russel Smith, CEO comments, “We are extremely happy to complete our agreement with Sierra Gold LLC. to acquire The Ruby Mining claims and commence mining operations on this historic project. While Ruby has been one of the most prolific mines in California, what is so extraordinary is how much of the claims are virtually unexplored. The combination of already identified near term mining targets with the largely unexplored greenstone belt provides significant potential of additional gold reserves. We will bring new technology and geological survey process to Ruby that we believe will quickly identify new mining targets.”