Discovery Silver Corp is engaged in developing, exploring, and mining precious metals.
On April 9, 2021, the company, formerly known as Discovery Metals Corp, rebranded to the present name. However, it retained the ticker symbol ‘DSV’ on the Toronto Stock Exchange.
Discovery Silver Corp focuses on constructing large scale and high margin silver mine projects in Mexico.
Discovery Silver holds a 100 per cent stake in the Cordero Project, acquired in 2019.
The flagship project is located in the Central Mexican Silver Belt’s eastern Sierra Madre Occidental Mountain system in the Chihuahua State.
The Mexico-based mine is a polymetallic deposit with multiple high-grade silver-zinc-lead-gold and sulfide veins.
The company conducted a preliminary economic assessment in April 2018, which highlighted that the Cordero Project is expected to produce approximately 40,000 tons of mineral resources per day for nearly 29 years, reportedly.
Discovery Silver also invests in various pipeline projects, including Monclova Project, Puerto Rico Project and Minerva Project.
Puerto Rico Project
It consists of three mines, namely the Puerto Rico Mine, the San Jose Mine, and the Zaragoza Mine. These represent large silver-zinc-lead carbonate replacement deposits with a production capacity of one million tons of mineral ores. The mining company says that the project is under the process of drill permission.
It owns mineral rights in roughly 350 square kilometers in the region.
The property consists of three prospects: Mina Minerva, Concordia and Tercia. The project is located approximately 230 kilometers northwest of Melchor Muzquiz City in Mexico’s Coahuila State.
It is a silver-lead-zinc deposit subject to artisanal mining and situated within the range of 20-100 kilometers of other pipeline projects.
The project comprises two main zones, the Real Viejo and the Soledad areas, located 25 kilometers southwest of Monclova City. The deposit is reportedly a prospective composite mine with a history of extracting precious and base metal ores, including silver, gold, copper, iron, etc.
The company has reportedly invested C$90 million in exploration, resource expansion and development of new high-grade assets with bulk tonnage mineralization.
In 2021, it was among the OTCQX Best 50 by the OTC Markets Group. In addition, it was included in the TSX Venture 50 list for 2020.