Break Out Ahead? Discovery Minerals Ltd (OTCMKTS:DSCR)

Discovery Minerals Ltd (OTCMKTS: DSCR) has gained momentum this morning after a news update.

Market Action

As of 10:52, DSCR stock has moved up over 20% to $0.0088. The stock has seen a total volume of 185.60 million shares, better than its average volume of 182.28 million shares. The stock has moved in range of $0.0071 – 0.0108 after opening at $0.0077.

DSCR Has News This Morning

Discovery Minerals Update on Ruby Mine

  • DSCR announced that it has engaged Simon Meldrum as Senior Geologist and completed a comprehensive site assessment starting on April 28 and concluding on May 8, 2021. Mr Meldrum will continue with the evaluation of the Project in his office for later publication.
  • Mr. Meldrum brings over 30 years experience as a Geologist with specific expertise in exploration and reconceptualizing mines with known production, targeting new ore resources, significantly increasing mine yield.
  • It was previously reported that the Ruby produced an estimated 250,000 troy ounces of gold from 1850’s to early 1900s.
  • Furthermore, that 3.5 miles of unmined river channels on the Ruby mining claims have an estimated potential of 370,000 oz of gold yet to be mined from the buried placer, based on historical data.
  • The main focus of the May 8th investigation was to inspect existing mining equipment and resources in place to advance the mining plan as well as plan for additional geological exploration to identify additional ore resources.

Russell Smith CEO of Discovery Minerals commented: ” The potential for locating additional enrichment zones and ore resources in the greenstone belt has obliged us to reevaluate initial estimates, where we feel we could quite possibly identify 2 to 5 times the currently estimated ore resources.

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