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Discovery Harbour Resources (TSXV:DHR)

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Last Post: 6/23/2017 5:44:49 PM - Followers: 1 - Board type: Free - Posts Today: 0

Discovery Harbour's most recent acquisition, the Wabassi project is an earned-in 51% interest (49% Northern Shield: TSX-V:NRN) in a layered intrusion with potential Cu-Ni mineralization (drill indicated, 2008 and 2011). The Wabassi project features a land position covering 35,136 ha. This district-size land holding with multiple volcanogenic massive sulphide discoveries, a significant gold drill intercept and indications of Cu-Ni-PGE potential. Wabassi is the first new volcanogenic massive sulfide district discovered in Canada in over 20 years.

The Wabassi project now has three filed NI 43-101 reports (1 filed by Northern Shield, 2 by Discovery Harbour) and Discovery Harbour has earned its 51% interest in the Wabassi project, positioning Discovery Harbour to pursue the exploration and development of the Wabassi project which operates as a participating joint venture with Northern Shield.

VANCOUVERJan. 15, 2014 /CNW/ - Discovery Harbour Resources Corp. (TSXV:DHR) ("Discovery" or the "Company") and its partners, Northern Shield Resources (TSXV:NRN) ("Northern Shield") and Great Lakes Resources LLC ("Great Lakes"), a private company, announce that the Fall 2013 exploration program, which was initiated on October 4, 2013, at their Wabassi Project in Northwestern Ontario ended onDecember 5, 2013 and final assay results from drilling have been received.

As reported in the press release dated December 11, 2013, the program had a planned budget of Cdn $1.5 million which was funded by Discovery and Great Lakes and was designed to complete detailed geophysical surveys and approximately 2,800 meters of drilling (see Discovery News Releases dated October 11, 2013November 14, 2013 and December 11, 2013).

Ground and Bore Hole EM (electromagnetic) surveys were completed on 5 separate grids and drilling of both surface-derived and bore hole EM targets was completed on 3 targets within the Wabassi Project for a total of 7 holes, comprising an actual total of 2,881 meters of drilling for an approximate total expenditure of Cdn $1.65 million.

The best result was drill hole 13WA-43 where mineralization graded 4.88% Zn; 0.6% Cu; 18.9 g/t Ag and 0.183 g/t Au from 314.7m to 328.95m (14.22m) on Anomaly "E". Other drill holes did not generally intercept significant mineralization. However, where drilling failed to explain the targeted geophysical responses, volcanic lithologies, typical hosts to VMS style mineralization, were intersected. Additionally, down hole pulse EM surveys conducted during this program identified a number of off hole anomalies that have sufficient intensity and size to merit ranking as priority targets for future drill testing.

The targets that were tested are all priority geophysical responses from airborne and ground electromagnetic and magnetic surveys. The results for each target are described below.

Anomaly "Q" - Drill holes 13WA-46 (approximately 284m) & 13WA-47 (approximately 257m)

Two holes, spaced approximately 225m apart, along the axis of the conductor, were drilled at Anomaly Q. However the anomaly was not satisfactorily explained and therefore bore hole (down hole) pulse EM surveys were conducted from top to bottom of each of holes 13WA-46 & 47. The results of these two down hole surveys indicate that moderate to strong conductors reside off-hole (approximately 35m to 50m) in each of holes 13WA-46 & 13WA-47. Anomaly Q remains as a priority drill target at Wabassi.

Anomaly "E" - Drill holes 13WA-43 (approximately 362m), 13WA- 44 (approximately 563m), 13WA-45 (approximately 356m) & 13WA-49 (approximately 820m)

The planned objective of this phase of drilling at the Anomaly E VMS discovery was to test the continuity of the mineralization, both laterally, along strike and vertically to a depth of at least -500m.

Hole 13WA-43 was planned to prove that three conductors, located approximately 325 vertical meters below surface, are attributable to VMS-style mineralization. Drilling intersected stringer zone pyrite, pyrrhotite & chalcopyrite mineralization and alteration in the footwall, beneath the main sulfide body from approximately 283.15m to 314.7m (approximately 31.55m). A zone of continuous semi-massive and massive sulfide mineralization (pyrrhotite-pyrite-sphalerite-chalcopyrite) was intercepted in 13WA-43 as predicted. As reported by ALS Chemex, assays from 314.7m to 328.95m indicate 14.22m @ 4.88% Zn; 0.6% Cu; 18.9 g/t Ag and 0.183 g/t Au, including, 324.05m to 328m (3.95m) @ 17.3% Zn; 0.983% Cu; 30 g/t Ag and 0.2 g/t Au.

These intercepts exhibit that the zinc-copper-silver-gold mineralization residing at shallower depths in the core portion of Anomaly E, continues at least -257 vertical meters below surface. Additional down hole EM surveying is warranted to determine if this mineralization continues at depths below hole 13WA-43.

Hole 13WA-44 was designed to test surface pulse EM responses located at vertical depths of -450m to at least -650 m. No semi-massive or massive sulfides were encountered and the deep conductor was not explained. Footwall alteration and copper stringer zone mineralization (pyrrhotite-pyrite-chalcopyrite) was encountered from approximately 448.1m to 505.8m (57.7m). This approximate 57.7m section of copper stringer zone ranged from 0.26% Cu with assays reporting highs of 1.2% Cu from 465.25m to 465.75m (0.5m) and 2.5% Cu from 504.8m to 505.8m (1m).

Consequently, a bore hole EM survey was performed in 13WA-44. This survey produced a strong off-hole response, interpreted to be located approximately 35m to the southwest of this hole. The response occurred from approximately 505m to 535m.

Holes 13WA-45 and 49 did not explain the targeted conductors and further work is required to determine the conductor source. Assays from hole 13WA-45 did not indicate anomalous base or precious metalmineralization. However, hole 13WA-49 did intercept 7.3 g/t Au associated with a quartz-tourmaline vein. This intercept was assayed from 539.87m to 540.87m (1 meter interval / 1 sample). The conductors present in this portion of Anomaly E remain as priorities to test.

Anomaly "C"

Another objective of this program was to explain the ground PEM targets generated from the surveying ofAnomaly "C" which consists of 3 separate conductive zones, C1, C2 and C3.  One of these zones, "C1" was drill tested in 2010 (10WA-18) and successfully intercepted weak to moderate zinc-copper-silver mineralization contained within a gabbro-norite of the Wabassi Intrusion and not in typical volcanic lithologies that are host to VMS systems globally.

Drill hole 13WA-48 explained the conductor as it intercepted pyrrhotite with minor sphalerite, chalcopyrite and silver as disseminations and net-textured mineralization in the gabbros from 171m to 226m (55 m). These gabbros are believed to be part of the younger Wabassi Intrusive Complex and, during intrusion into the volcanic stratigraphy, may have incorporated pre-existing VMS mineralization.

Regional Targets - Ground Surveys / Drill Site Preparation

In addition to the ground surveys already mentioned above, pulse EM and magnetic survey data were collected over Anomalies M, N1 and A3. The results of the EM surveys over these zones indicate that:

  • Anomaly M has a weak to moderate conductor but is located deeper than expected. The drilling attempt during the 2013 spring program apparently drilled over the top of the ground response. Additional drill testing at Anomaly M is warranted while further work is required to understand the source of other geophysical anomalies on the Wabassi Project.
  • Anomaly N ground survey results did not reveal any new targets. The original target there remains unexplained. One hole from the spring, 2013 program at Anomaly N produced visible gold as reported in a press release dated May 15, 2013. This occurrence also warrants additional investigation.
  • Ground pulse EM surveying of the A3 Zone, the proposed southwestern extension of the A2 VMS discovery from 2010, did not produce a drill target of merit. Further work within the A2 discovery area may produce further knowledge of the A3 response. A2 also warrants further drilling and bore hole EM.

Please note that the drill intercepts reported do not represent true thickness or width of the mineralized intervals. Additional drilling is required to determine true dimensions of the mineralization described.

All geochemical analyses were performed by ALS Chemex in Vancouver, BC. ALS Chemex has an arms's length relationship with Discovery, Great Lakes and Northern Shield.

Trace level gold was analyzed using the Chemex Au-ICP-21 analytical method, a 30 gram fire assay with ICP-AES finish and the high grade gold assay used the Chemex Au-Gra-21 method, a 30 gram fire assay with Gravimetric finish. Samples were analyzed for base metals by four acid digestion and ICP-AES.

Michael J. Senn, a licensed professional geologist and director of Discovery, is the Qualified Person for Discovery as described in National Instrument 43-101 and is responsible for and has approved the technical contents of this release.

ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.

"Ian Graham"

Ian Graham
President, CEO and Corporate Secretary

 
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#35   Discovery Harbour amends debenture, proposes rollback Sam Dan 06/23/17 05:44:49 PM
#34   Further update from DHR properties in two separate NRs Sam Dan 06/21/17 06:49:12 PM
#33   DISCOVERY HARBOUR PROVIDES UPDATE ON CALDERA PROJECT AND Sam Dan 06/13/17 05:20:09 PM
#32   A financing by major shareholder Director Richard Gillam Sam Dan 04/07/17 03:20:51 PM
#31   NEW PRESIDENT/CEO hope it helps. Sam Dan 03/15/17 07:21:58 PM
#30   DISCOVERY HARBOUR ENTERS EXTENSION TO THE AGREEMENT TO Sam Dan 02/27/17 08:47:58 PM
#29   Its disappointing that no one is posting on Sam Dan 06/09/15 05:35:16 PM
#28   Obviously management is gearing up for drilling. The Sam Dan 05/20/15 09:25:44 AM
#27   DISCOVERY HARBOUR ANNOUNCES NEW COPPER TARGETS DEFINED AT Sam Dan 05/19/15 03:48:50 PM
#26   Letter to shareholders from President Sam Dan 05/06/15 08:51:29 AM
#25   DISCOVERY HARBOUR ANNOUNCES CLOSING OF SALE OF 51% Sam Dan 04/27/15 10:53:36 AM
#24   Any body still access this Board?? Sam Dan 03/25/15 05:04:12 PM
#23   DHR announcing a funding move. Sam Dan 02/12/15 06:20:54 PM
#22   Easier read from DHR Sam Dan 01/26/15 11:52:15 PM
#21   Finally results of drilling in Nevada released today-looks Sam Dan 01/26/15 05:35:39 PM
#20   Important that "Ring of Fire infrastructure is completed Sam Dan 11/19/14 10:19:22 AM
#19   DHR announces beginning of drill program. Sam Dan 10/29/14 09:28:46 AM
#18   Exciting news today. The tone of the PR Sam Dan 08/11/14 09:37:36 AM
#17   As DHR moves forward on 2BAR obviously their Sam Dan 07/24/14 10:03:02 AM
#16   Further update re newest play at 2 BAR Sam Dan 07/16/14 10:05:32 AM
#15   A new project for Discovery Harbour. Hope Sam Dan 06/20/14 06:55:51 PM
#14   Mr. Bruno Hegner reports Sam Dan 06/19/14 03:57:40 PM
#13   Change in the head of DHR- hope they Sam Dan 02/06/14 11:32:58 AM
#12   ASSAY REPORTS FROM FIRST MAJOR DRILLING AT WABASSI Sam Dan 01/15/14 06:59:44 PM
#11   UPDATE Wait for the assays. Sam Dan 12/12/13 12:05:30 AM
#10   TSX approves this important move by DHR Sam Dan 12/02/13 06:09:06 PM
#9   Lonely here Latest news could use some explanation Sam Dan 11/14/13 07:00:59 PM
#8   Very significant PR- will go a long way Sam Dan 10/11/13 12:45:26 PM
#7   This PR shows a significant controlling share purchase! Sam Dan 09/12/13 11:31:23 AM
#6   FINALLY PP CLOSED- HOPEFULLY SHARE PRICE NOW FREE Sam Dan 09/11/13 12:33:04 PM
#5   Another positive result for DHR- if anyone cares Sam Dan 08/23/13 11:36:00 AM
#4   This news just in as well- ANYONE OUT Sam Dan 08/22/13 11:51:50 AM
#3   Guess this dilution is necessary although disappointing Sam Dan 08/22/13 10:23:07 AM
#2   Notice that drilling has started from management today Sam Dan 05/29/13 05:44:11 PM
#1   [bDiscovery Harbour Announces 4.90 Ounces per Ton Gold Sam Dan 05/15/13 04:35:39 PM
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