Discovery Ventures Inc. Announces the Hiring of an Independent Consulting Engineer
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2012) - Discovery Ventures Inc. ("Discovery", "DVN" or the "Company") (TSX VENTURE:DVN) wishes to announce that it has hired an independent consulting Engineer, Wayne Ash, PEng, to conduct a full site survey of the Willa Mining project located in the Slocan Valley Mining district of British Columbia. Mr. Ash will also complete a NI 43-101 Technical report as part of his consulting agreement.
Mr. Ash accompanied Discovery Ventures Inc. personnel to the mine site for the week of October 22nd to October 27th to walk the property and assess the mine workings. He will keep the company apprised of all advancements made on the property.
The Willa project is located in one of the most highly mineralized regions of British Columbia for both base and precious metals. Since the early 1890's the Slocan mining region has hosted more than 20 mining/milling operations and some 200 additional mines that have shipped ore to custom mills and smelters. The mine workings consist of two adit levels and one internal level with two declines and two raises connecting the levels. The main 1025 level runs for 900 meters and is equipped with 60lb rail.
The Willa deposit is located 8km south of Silverton on Red Mountain Road, named as a result of extensive red soils resulting from weathering of sulphide minerals in the local bedrock. Regional geology has the Willa situated in the southern portion of the Selkirk Mountains, within the highly metallised Omineca Crystalline Belt, consisting of Paleozoic and Mesozoic volcanic, sedimentary and plutonic rocks.
Total exploration expenditure on the Willa project is in excess of $15 million to date.
President of the Company Akash Patel states, "Discovery is very excited about this project and the past development work getting this deposit ready for the next step. There has been a lot of work completed to get the property to its current state. With mining exploration and development cost's rising, the $15 Million dollars of work completed over the past number of years would be increased substantially with today's exploration and development costs."
About Discovery Ventures Inc.
Shares issued: 23,641,749
Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on three core assets including the Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; The Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totalled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit.
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This press release contains projections and forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery such as the statement that the closing of the Agreement may occur and that the option may be exercised. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the agreement for any reason. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.
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Discovery Ventures Inc.