$DSCR Discovery Minerals Update on Ruby Gold Mine
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Posted On: 08/30/2021 8:47:40 AM
$DSCR Discovery Minerals Update on Ruby Gold Mine Activities
Discovery Minerals LTD (OTC PINK
SCR), the precious metals exploration and production company, is pleased to announce the continuation of their geological review and work program for the Ruby Gold Mine on the widely known "Mother Lode" in Northern California.
The Company has chosen to follow the recommendation of their Geological Team and combine the reopening of the previous workings while also undertaking the forward planning approach to establishing reserves by using seismic survey and drilling in combination to help pinpoint ore locations.
Here are excerpts of the Geological Report on work conducted at the RUBY in July, August 2021:
Two options are available for the future development of the Ruby gold mine: 1) a systematic exploration approach where the locations widths and gold potential of the deep lead channels and the underlying orogenic veined structures are assessed and defined through underground mapping, underground drone surveying, drilling and geophysical exploration, and 2) to approach the mine in the traditional fashion of re-opening old exposures and conducting exploration at the underground mine faces. The first option aims to de-risk the investment, the latter carries a higher level of risk throughout the life of mine, leaves potential unquantified, and negates any concept of procuring plant and developing infrastructure to suit a defined resource. The latter also draws into question the concept of redeveloping through a new bigger, truck permissive incline or decline access portal due to uncertainty of where the best potential lies. Pre-development exploration will require a significant up-front cost, while the traditional small mine approach could feasibly advance exploration with gains from production and it is probable that the latter approach will be adopted. Preparations for the systematic exploration approach have been made, available geological and mine data has been digitized, detailed topographic data procured, and plans made for a trial seismic +/-microgravity survey. The objective of a seismic survey is to identify the base of the volcanic cover and secondly highlight where underground openings are located and test lines are planned to determine if a seismic approach would be feasible. The preferred approach would be to fast track the refurbishment of the underground access between the Ruby portal and the Lawry shaft, drill a series of inclined combined RC / diamond holes from surface to gain seismic sounding data for the various lithologies in addition to confirming the location of the volcanic cover / basement interface, probe for deep leads and extend across the orogenic veined structures. And then follow on with a trial seismic (+/-microgravity) survey to determine if a complete 2D/3D seismic survey could significantly reduce metreage of exploration drilling whether from underground of surface required to quantify the potential of the deep lead / lode complex. To date no advance has been made on the drilling or underground refurbishment but preparations have been made and quotes provided for conducting a trial seismic survey. No estimates have been acquired for drilling at this stage but it can be assumed based on costs elsewhere that 4 combined RC/diamond drill holes to 250m depth will probably incur an investment of approximately USD 300,000.
https://finance.yahoo.com/news/discovery-mine...00450.html
Discovery Minerals LTD (OTC PINK
SCR), the precious metals exploration and production company, is pleased to announce the continuation of their geological review and work program for the Ruby Gold Mine on the widely known "Mother Lode" in Northern California. The Company has chosen to follow the recommendation of their Geological Team and combine the reopening of the previous workings while also undertaking the forward planning approach to establishing reserves by using seismic survey and drilling in combination to help pinpoint ore locations.
Here are excerpts of the Geological Report on work conducted at the RUBY in July, August 2021:
Two options are available for the future development of the Ruby gold mine: 1) a systematic exploration approach where the locations widths and gold potential of the deep lead channels and the underlying orogenic veined structures are assessed and defined through underground mapping, underground drone surveying, drilling and geophysical exploration, and 2) to approach the mine in the traditional fashion of re-opening old exposures and conducting exploration at the underground mine faces. The first option aims to de-risk the investment, the latter carries a higher level of risk throughout the life of mine, leaves potential unquantified, and negates any concept of procuring plant and developing infrastructure to suit a defined resource. The latter also draws into question the concept of redeveloping through a new bigger, truck permissive incline or decline access portal due to uncertainty of where the best potential lies. Pre-development exploration will require a significant up-front cost, while the traditional small mine approach could feasibly advance exploration with gains from production and it is probable that the latter approach will be adopted. Preparations for the systematic exploration approach have been made, available geological and mine data has been digitized, detailed topographic data procured, and plans made for a trial seismic +/-microgravity survey. The objective of a seismic survey is to identify the base of the volcanic cover and secondly highlight where underground openings are located and test lines are planned to determine if a seismic approach would be feasible. The preferred approach would be to fast track the refurbishment of the underground access between the Ruby portal and the Lawry shaft, drill a series of inclined combined RC / diamond holes from surface to gain seismic sounding data for the various lithologies in addition to confirming the location of the volcanic cover / basement interface, probe for deep leads and extend across the orogenic veined structures. And then follow on with a trial seismic (+/-microgravity) survey to determine if a complete 2D/3D seismic survey could significantly reduce metreage of exploration drilling whether from underground of surface required to quantify the potential of the deep lead / lode complex. To date no advance has been made on the drilling or underground refurbishment but preparations have been made and quotes provided for conducting a trial seismic survey. No estimates have been acquired for drilling at this stage but it can be assumed based on costs elsewhere that 4 combined RC/diamond drill holes to 250m depth will probably incur an investment of approximately USD 300,000.
https://finance.yahoo.com/news/discovery-mine...00450.html
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