Discovery Harbour Announces Newcrest Relinquishes Option on Fortuity 89 Project
Vancouver, May 30, 2022 - Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the "Company" or "Discovery Harbour") announces that it has been advised by Newcrest Resources, Inc., a wholly owned subsidiary of Newcrest Mining Limited ("Newcrest"), that it is relinquishing its option to earn an interest in the Fortuity 89 Project, Nevada.
Mark Fields, President & CEO of Discovery Harbour stated, "We would like to thank Newcrest for their exploration expertise and work programs on Fortuity 89. Their exploration progressed the Fortuity 89 Project from a greenfield project to one with prospective drill targets. Newcrest has been an excellent partner to have, advancing Fortuity 89 to the stage where a robust database of well executed geology, geochemistry, and geophysics, along with the initial reverse circulation drilling results, are available to provide a framework for further work. Discovery Harbour will evaluate the data to determine the next steps for exploration at Fortuity 89."
About the Fortuity 89 Project
The Fortuity 89 Project is a 35 square kilometre property located in the Walker Lane Gold Belt of Nevada. It is a few kilometres west of Discovery Harbour's Caldera Project. The target on both properties is a high grade low sulphidation epithermal gold deposit. Newcrest completed an initial exploration program in 2021 which included a geophysical program encompassing a 675 line kilometre drone airborne magnetic survey, a 250 station ground gravity survey and a 45 line kilometre audio band magnetotellurics (AMT) resistivity survey as well as geological and alteration mapping and sampling with a soil geochemical program (see news release July 14, 2021). In 2022 Newcrest completed a total of 1,663 metres of drilling in five reverse circulation drill holes. Analytical results are being evaluated.
Alan Morris, CPG, 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 foci are the Caldera and Fortuity 89 low sulphidation epithermal gold projects in Nevada.
ON BEHALF OF THE BOARD OF Discovery Harbour Resources Corp.
"Mark Fields"
Mark Fields, B. Sc. (Geology), 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. 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 (iv) 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/125769