Discovery Minerals takes Option to Purchase Royalty on Menary Gold Mine
Reno, Nevada. January 7, 2014 - Discovery Minerals Ltd. (OTC PINK: DSCR) is
pleased to announce that it has taken an option to purchase a royalty. The Royalty is a
1.5% NSR interest on gold production from four (4) claim blocks for 16 claim units
located in Menary Twp., Kenora District of Ontario.
The Option to purchase the NSR for $50,000 is for a six month minimum period with an
extension available at the election of the Company, by paying an extension Fee.
Highlights of the pertinent factors affecting the value of the NSR are below:
- Diamond drill program of over 4700 m. outlined multiple gold zones in qtzcarbonate
hosted shears/vein systems over the Wagg showing (on Patented claim)
- Multiple visible gold hits/observed in the core and in bedrock surface exposures
often over 1 once/ton in grade.
- Preliminary bulk sample test of approx. 1000 metric tons recovered a significant
amount of free-milled gold.
- approx. 900 tons of tailings on site - grading 3.5 g/ton remain on site
- a number of other gold occurrences can be found on the property - Wagg,
Galbraith ‘A’, New Shear and Galbraith ’B’veins
- property is along strike and in the same geological/greenstone Belt as the Rainy
River Resource (Richardson Twp. Deposit, now New Gold Inc. with + 5 million
Oz. Au outlined- link to New Gold Inc. – ‘ www.newgold.com’ )
- property is in good standing and will be for at least 5+ years having over $1.2
million expended on it in the last three years – see press releases Kings Bay Gold
Corp. (Link – ‘www.kingsbaygold.com’ – Menary Property )
- total land package consists of 10 claims for 61 claim units or approximately 2440
acres in size
- property is located approx. 6 kms. from Hwy 71 and 14 kms. southeast of Nestor
Falls, Ontario which is one hour’s drive south of Kenora or 1 hrs. drive north of
Fort Frances, Ontario. Property is readily accessible for field work and drilling
viewing in the summer months.
- potential for gold, silver, copper, nickel and cobalt mineralization on the property
About Discovery Minerals Limited
Discovery Minerals Ltd. (Frankfurt WKN: A0LB3X) (Kurzel: D7Z) (OTC: DSCR) is a
production stage company formed to acquire and develop natural resource properties.
Activities include gold, precious metals and petroleum minerals, including rare earth
minerals production and sales. The Company initiated a new program to evaluate
undervalued assets, including clean tech and alternative energy investments, for potential
addition to its portfolio.
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