Discovery Ventures, Inc. (OTCQX: DTVMF) is an exploration
and development stage mining company focused on the WillaMax gold project in
southeast British Columbia, Canada. The Willa property is highly developed,
with current measured and indicated resources of over 758,000 metric tons
grading 6.67 grams of gold per unit. The Max project, which is located
approximately 135 kilometers away from the Willa project, features the
necessary infrastructure to effectively process the company’s mined resources,
providing Discovery with financially-viable means of production moving forward.
Earlier this month, the company announced the results from
the recently completed test work program on the Willa Mine. According to the
news release, the test, which was conducted by MetSolve Labs, found the
metallurgical recoveries from the site’s intermediate grade mineral samples to
be greater than indicated by historical records. In the weeks to come, the
company will look to build on these strong results as testing on the site’s
high grade and sub-grade samples begins.
“We are encouraged by these results,” Akash Patel, president
and chief executive officer of Discovery, stated in a news release. “These
findings signal a positive outlook for our company’s WillaMax project’s
production potential.”
The Willa property has been explored sporadically since
1893. In 2003, a mineral resource calculation was completed on the property
based on historical drilling results. Two years later, a preliminary mine
design and schedule was developed, but the prevailing metal prices didn’t yield
a sufficient return to make production a feasible option. However, an increase
in gold prices of approximately 280 percent in the last decade has effectively
limited this concern, making the property a potentially lucrative opportunity
for Discovery in the future.
In recent weeks, Discovery took a major step toward
production by entering into a definitive agreement with investor Dan Omeniuk
for up to $7 million in convertible credit. With the proceeds from these credit
facilities, the company will look to rapidly advance.
“We are very excited to have Dan Omeniuk join the Discovery
team,” continued Patel. “Dan brings a wealth of knowledge and entrepreneurship
success and we are confident in his ability to spearhead and advance the
WillaMax gold project.”
For more information, visit www.discoveryventuresinc.com
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