Vancouver, British Columbia--(Newsfile Corp. - June 30, 2021) - Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the "Company" or "Discovery Harbour") is pleased to announce that the United States Forest Service ("USFS") has concluded its review of the drill permit application with a positive decision for the epithermal gold Caldera property in Nevada. The positive USFS Decision Memo provides approval of the Company's Plan of Operations for Discovery Harbour to undertake a drill program on up to 10 drill targets this summer (for a description of the drill targets please refer to the Company's website, www.discoveryharbour.com, and the news release of August 31, 2020). The Company has engaged a drill contractor and is finalizing all necessary arrangements. In connection with the drill permit, the Company is making arrangements to post a $49,200 bond, a standard condition for a drill permit of this type. The Company expects to confirm all necessary logistics and contractors in order to begin drilling in August.
Mark Fields, the Company's President and CEO, stated, "We are very pleased to receive the positive drill permit decision. It has been a longer process than we anticipated, however, we have used the time to carefully prepare for the drill program. We are fully funded to drill test a series of the low sulphidation epithermal gold targets at depths substantially deeper than any historical drilling at Caldera. I would like to thank our shareholders for their patience as we worked our way towards this drill program."
Mark Fields continues, "It is an exciting time with both the Caldera and Fortuity 89 properties advancing. We can now confirm our drill plans for Caldera, and Newcrest is rapidly advancing activity on the Fortuity 89 property through their evaluation and target identification for a drill program (see Discovery Harbour news releases, March 9, 2021 and April 12, 2021). The properties are only a few kilometres apart with similar geology and gold deposition models."
Mark Fields, P.Geo., is the Qualified Person for Discovery Harbour as defined in NI 43-101 and has reviewed and approved the technical contents of this news release.
About Discovery Harbour
Discovery Harbour is focused on sourcing, exploring and developing mineral properties in mining-friendly jurisdictions. Its current primary focus is to undertake a drill program on Caldera, a low sulphidation epithermal gold project in Nevada. Additionally, Discovery Harbour has an agreement with Newcrest Resources, Inc on its Fortuity 89 property in Nevada.
Newcrest Mining Limited (ASX: NCM) (TSX: NCM) (PNGX: NCM) is one of the world's largest gold mining companies. Its purpose is to create a brighter future for people through safe and responsible mining. Newcrest owns and operates a portfolio of predominantly low cost, long life mines and a strong pipeline of brownfield and greenfield exploration projects - predominantly in the Asia-Pacific and North and South America.
ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.
Mark Fields, P.Geo., B.Comm.(Hon.)
President and Chief Executive Officer
Discovery Harbour Resources Corp.
Tel: (604) 681-3170
Fax: (604) 681-3552
Disclaimer for Forward-Looking Information
This news release contains 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 Harbour, such as statements that Discovery Harbour intends to pursue the Caldera Project. There are numerous risks and uncertainties that could cause actual results and Discovery Harbour's plans and objectives to differ materially from those expressed in the forward‐looking information, including: (i) adverse market conditions; (ii) exploration results, (iii) permitting requirements or (iii) the financial position of the Company. 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. Except as required by law, Discovery Harbour does not intend to update these forward‐looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89079