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Discovery Ventures Inc.(DVN.V) Enters Into a Definitive Agreement to Acquire the Will

Discussion in 'Stock Market News & Analysis' started by mickymoose99, Nov 19, 2012.

  1. mickymoose99

    mickymoose99 Member

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    Discovery Ventures Inc.(DVN.V) Enters Into a Definitive Agreement to Acquire the Willa Gold Deposit

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2012) - Discovery Ventures Inc. ("Discovery", "DVN" or the "Company") (TSX VENTURE:DVN) wishes to announce that further to its news release of October 18, 2012, it has entered into a definitive option agreement (the "Option Agreement") with 0951719 B.C. Ltd (the "Optionor") to acquire up to an 80% interest in the Willa property, consisting of 5,328 hectares located in the Slocan Mining Division, British Columbia, south of the town of Silverton B.C. (the "Property"), subject to the Optionor's underlying option agreement with and a 2.5% NSR in favour of the registered owners (the "Option").

    Pursuant to the Option Agreement, the Company may exercise the Option by providing written notice of its intent to exercise the Option after making certain payments and share issuances to the Optionor and incurring work expenditures on the Property as follows: i.upon execution of the Option Agreement: paying $50,000; ii.within 5 business days of receiving approval of the transaction by the TSX Venture Exchange ("TSXV Approval"): paying $150,000 and issuing 1,000,000 shares; iii.on or before the 1st anniversary of receiving TSXV Approval: paying $350,000, issuing 4,000,000 shares and incurring $500,000 of work on the Property; iv.on or before the 2nd anniversary of receiving TSXV Approval: paying $1,000,000, issuing 6,000,000 shares and incurring $500,000 of work on the Property; v.on or before the 3rd anniversary of receiving TSXV Approval: paying $1,450,000, issuing 7,000,000 shares and incurring $500,000 of work on the Property.

    Once the Company has exercised the Option, it has a right of first refusal to purchase the remaining 20% interest held by the Optionor at fair market value, thus giving the Company a 100% interest in the Willa project.

    If in the event there is a sale of mineralized material from the Property prior to the exercise of the Option, the net proceeds, subject to the 2.5% NSR, shall be divided between equally between the Company and the Optionor. After the exercise of the Option, the net proceeds, subject to the 2.5% NSR, shall be divided according to the parties' respective interests.

    Since the early 1890's the Slocan mining region has hosted more than 20 mining/milling operations and some 200 additional mines that have shipped ore to custom mills and smelters.

    The mineral property consists of 5,328 hectares located 8 kms south of the town of Silverton, B.C.. It is strategically located in one of the most highly mineralized regions of British Columbia for both base and precious metals. The Willa Deposit is situated in the southern portion of the Selkirk Mountains, within the highly metallised Omineca Crystalline Belt, consisting of Paleozoic and Mesozoic volcanic, sedimentary and plutonic rocks.

    Completed underground mine workings consist of two adit levels, an internal level with two declines and two raises connecting the levels. The main haulage level (1025) runs for 900 meters and is equipped with 60lb rail.

    Cumulative historical exploration expenditures on the Willa project exceed $15 million. These expenditures were incurred by several operators, including Noranda, Rio Algom, BP Minerals, Bethlehem Resources Corp., Northair Mines Ltd. and Hudson Bay Mining & Smelting. Work completed includes 596 drill holes totalling 189,000 feet (57,250 metres) of core drilling and 8,500 feet (2,575 metres) of underground workings, extensive geophysics and sampling consisting of 17,150 analyses for gold, copper and silver. A pre-feasibility study and a 550 tonne metallurgical bulk sample were completed in 2004.

    The Companies that conducted the previous exploration and development programs ensured that all work was compiled and archived to the highest standard. The database has been preserved, is fully intact, and has been extensively reviewed by Discovery and its geotechnical team. A NI 43-101 historical resource calculation was completed on the Willa Deposit in 2005, as reported by David Makepeace PEng. This resource used a 3.5 g Au/mt cut-off grade and only considered measured and indicated categories. The resource is as follows:

    2005 Technical Report (grade cut-off 3.5 g Au/mt):

    Category

    Metric tons

    Gold (g/mt)

    Copper (%)

    Silver (g/mt)

    Measured

    495,784

    7.18

    0.94

    12.16

    Indicated

    292,467

    5.71

    0.67

    13.26

    TOTAL

    788,251

    6.63

    0.84

    12.57

    In 2003 a NI 43-101 resource was completed by Geospectrum Engineering (David Makepeace PEng.) and is presented for comparative purposes. Other than the 2005 presented resource, there are no current compliant resources in the project. The 2005 and the 2003 resource estimates are considered to be "Historic Resources" as they have not been confirmed or updated to meet a current NI 43-101 standard.

    Discovery Ventures is not treating any of the 2005 and 2003 estimates as a current NI 43-101-compliant resource. The Company has not yet undertaken the work necessary to have the historical 2005 and 2003 estimates verified by a Qualified Person. All other "reserves" and "resources" described and documented by previous operators are considered to be "Historic Resources" under NI 43-101. The properties will require future exploration and verification to convert "Historic Resources" into current NI 43-101-compliant resources, which the Company intends to carry out in due course. The historical estimates should not be relied upon.

    Of critical importance is that the geologic logging, drill hole surveying, drill hole and underground assaying, or any of the metallurgical testing on the deposit was not verified during the recent site visit by the Company's Qualified Person. Thus, these 2003 "resource summaries" are not relevant or reliable and presently only qualify under NI 43-101 Technical Report guidelines as "Historic Resources."

    Resource figures based upon the Makepeace March 2003 Report, are as follows:

    2003 Technical Report (grade cut-off 3.5 g Au/mt):

    Category

    Metric tons

    Gold (g/mt)

    Copper (%)

    Silver (g/mt)

    Measured

    487,989

    6.77

    0.97

    11.59

    Indicated

    292,457

    5.31

    0.65

    11.94

    TOTAL

    780,446

    6.22

    0.85

    11.72

    2003 Technical Report (grade cut-off 2.5 g Au/mt):

    Category

    Metric tons

    Gold (g/mt)

    Copper (%)

    Silver (g/mt)

    Measured

    792,744

    5.30

    0.83

    9.95

    Indicated

    591,765

    4.11

    0.62

    9.79

    TOTAL

    1,384,509

    4.79

    0.74

    9.88

    2003 Technical Report (grade cut-off 1.5 g Au/mt):

    Category

    Metric tons

    Gold (g/mt)

    Copper (%)

    Silver (g/mt)

    Measured

    1,364,879

    3.89

    0.68

    8.80

    Indicated

    1,316,763

    2.91

    0.51

    7.05

    TOTAL

    2,681,642

    3.41

    0.60

    7.94

    The Resource estimates (Makepeace, 2003) were made with Surpac software, with: •Cut-offs of 1.5g/t, 2.5 g/t and 3.5g/t gold

    •Rock bulk density of 2.9 t/m3

    •Capping of erratically high gold assays to 34.3 g/t

    The 2003 estimates were based upon a database including data from 556 core holes totalling 50,890m, 2,570m of underground workings and 17,150 analyses for Au, Cu, and Ag.

    President of the company Akash Patel stated: "Discovery is very excited about the opportunity to develop a project with the past developments including a NI 43-101 resource with a measured component. This resource along with the previous exploration expenditures in excess of $15 million will be the foundation on which to build the next phases of mine development."

    Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the Province of British Columbia, Canada. Along with the Willa deposit, the Company is also developing three other mineral projects including the Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; the Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totalled 4.15 million ounces
     
  2. mickymoose99

    mickymoose99 Member

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    Discovery Ventures Inc (DVN.V). Announces the Appointment of Walter Marting as a Dire

    Discovery Ventures Inc (DVN.V). Announces the Appointment of Walter Marting as a Director

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2012) - Discovery Ventures Inc. ("Discovery", "DVN" or the "Company") (TSX VENTURE:DVN) wishes to announce the appointment of Walter (Del) Marting, Jr. as a Director of the Company.

    Mr. Marting brings 35 years of experience in mining and mine development to the Company. He obtained his BA from Yale University in 1969, was a member of the Military: US Navy SEAL Team Two Little Creek, VA, LTJG Platoon Officer between 1970 - 1973, and obtained his MBA from Harvard Business School in 1975.

    From 1975 - 1977 he held the position of Production Supervisor at Climax Molybdenum Company, Leadville, CO., a division of Amax, Inc., (now part Freeport McMoran, following Cyprus and Phelps Dodge acquisitions). His responsibilities included supervision of underground and open pit mining at the world's largest primary molybdenum producing property. He also had responsibility for production crews and administrative functions involving production planning, budgeting and union negotiations at a facility that employed 1,200 miners, produced 60 million pounds annually of molybdenum and copper byproducts and had annual revenues of $180 million.

    From 1977 - 1982 he held the position of Director of Planning at Amax, Inc., Greenwich CT. where he was responsible for operations at Amax's existing worldwide molybdenum properties, and where he was additionally responsible for all strategic planning related to acquisitions and prospective acquisitions of exploration projects. He played an integral role in the planning and permitting of the technically complex Mt. Emmons molybdenum property in Crested Butte, CO. His duties also included the supervision of Amax's annual budget and production planning at two Colorado properties, the Climax Mine and the Henderson Mine. Amex's molybdenum division had annual revenues of $250 million and employed over 5,000 people worldwide.

    From 1982 - 1984 Mr. Marting was Vice President of Finance and Administration of Amax's European subsidiary, located in Paris, France. He was responsible for all financial, treasury, accounting, control and administrative functions. Operations included production facilities in Holland, UK and Italy with sales and exploration offices in Germany, Sweden, and Africa. Total sector staffing exceeded 1,200 people.

    From 1984-1986 Mr. Marting was President and CEO of the Lucky Chance Mining Company, a Reno, Nevada based gold and silver mining company with properties located in California, Nevada and Arizona. The Company successfully reopened and restarted production facilities at the famed 16-1 mine in Allegheny, CA. This property dates back to California's original gold rush period and was noted for its very high-grade ore - 1.0 au ounce/ton - and for the specimen quality of its gold ore. The mine was eventually sold to Transwestern Mining Co., a subsidiary of New Mexico Power of Albuquerque, NM.

    From 1986 - 1992 Mr. Marting was a Principal with L.J. Kaufman and Co, an investment banking firm located in Los Angeles, CA. His primary focus was on venture capital funding of private, early stage companies in aviation and health care.

    From 1992 - Present, Mr. Marting is a Principal and Founder of M and M Advisors, Inc., a privately held company located in Reno, Nevada that provides investment banking and financial advisory services to early stage companies in the Western USA.

    The Company's President, Mr. Akash Patel states:

    "Discovery Ventures is privileged that Mr. Marting, a person with such vast knowledge and experience, has accepted the appointment as a director of the Company. We are very pleased that he has agreed to work with the Company to develop its portfolio of properties."

    AKASH PATEL, President

    This press release contains projections and 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 such as the statement that the closing of the Agreement may occur and that the option may be exercised. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the agreement for any reason. 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.

    About Discovery Ventures Inc.

    Shares issued: 23,641,749

    Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on four core assets including the Willa deposit located 8km south of Silverton in the Slocan mining region; Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; The Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totalled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit
     
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    mickymoose99 Member

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    Discovery Ventures (DVN.V). Announces Increase to Its Offering

    Discovery Ventures (DVN.V). Announces Increase to Its Offering



    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2012) - Discovery Ventures Inc. ("Discovery" or the "Company") (TSX VENTURE:DVN) The Company is also pleased to announce that due to high interest in its private placement, it is increasing the amount offered from the original 8,000,000 units to up to 8,818,000 units. The price of $0.25 per unit and other terms of the offering will remain the same with each unit comprising of one common share and one share purchase warrant with an exercise term of 5 years along the pricing schedule as indicated above. As with the original offering, a finder's fee of a combination of cash, shares and/or warrants will be paid to eligible finders in relation to this financing, all in accordance with regulatory policies. The increase in the private placement is subject to approval by the TSX Venture Exchange. The Company intends to use the proceeds of the offering towards general working capital and its exploration projects.
     
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    mickymoose99 Member

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    Discovery Ventures (DVN.V) Announces Further Increase to Its Offering

    Discovery Ventures (DVN.V) Announces Further Increase to Its Offering


    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2012) - Discovery Ventures Inc. ("Discovery" or the "Company") (TSX VENTURE:DVN) The Company is pleased to announce that due to high interest in its private placement, it is further increasing the amount offered from the increased amount announced December 3rd of up to 8,818,000 units to up to 9,568,000 units effective December 4, 2012. The price of $0.25 per unit and other terms of the offering will remain the same with each unit comprising of one common share and one share purchase warrant with an exercise term of 5 years along the pricing schedule as indicated below. As with the original offering, a finder's fee of a combination of cash, shares and/or warrants may be paid to eligible finders in relation to this financing, all in accordance with regulatory policies. The increase in the private placement is subject to approval by the TSX Venture Exchange. The Company intends to use the proceeds of the offering towards general working capital and its exploration projects.

    The Company further wishes to announce that it has closed the 1st tranche of the private placement consisting of 7,108,000 units for an aggregate gross raised amount of $1,777,000. The Company's news release of November 26, 2012 announced the original offering of up to 8,000,000 units at $0.25 per unit, where each unit consists of one common share of the Company and one share purchase warrant with a 5 year term at the exercise price of $0.35 per common share in the first year, $0.40 per common share in the second year and $0.45 per common share from the third to fifth year. The hold period expiry date in respect of the shares comprising the units and the shares issued upon exercise of the shares purchase warrants related to the 1st tranche is April 1, 2013. In connection with the closing of the 1st tranche, finders received an aggregate of $165,650 and 622,600 compensation warrants.
     
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    mickymoose99 Member

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    Discovery Ventures Inc. (DVN.V) Files Willa Technical Report With TSX Venture Exchan

    Discovery Ventures Inc. (DVN.V) Files Willa Technical Report With TSX Venture Exchange

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2012) - Discovery Ventures Inc. ("Discovery" or the "Company") (TSX VENTURE:DVN) Further to the Company's news release of November 19, 2012, "Discovery Ventures Inc. Enters Into a Definitive Agreement to Acquire the Willa Gold Deposit" the Company is pleased to announce the filing of its NI 43-101 Technical Report in support of its application for acceptance for filing of the Definitive Agreement with the TSX Venture on the Willa Gold Deposit project. Further, the Company continues to identify and pursue other acquisitions in the natural resource sector and infrastructure needed for existing and future projects.
     
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    mickymoose99 Member

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    Discovery Ventures Inc. (DVN.V) Receives Conditional Approval of Willa Option Agreeme

    Discovery Ventures Inc. (DVN.V) Receives Conditional Approval of Willa Option Agreement


    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2013) - Discovery Ventures Inc. ("Discovery", "DVN" or the "Company") (TSX VENTURE:DVN) wishes to announce that the Company has received conditional acceptance of the acquisition of mineral claims located in the Slocan mining district of British Columbia known as the Willa deposit. The mineral property consists of 5,328 hectares and is located south of the town of Silverton, B.C. (the "Property"). In furtherance of TSX Venture Exchange approval of share issuances to the optionors of the Property subsequent to the completion of the Phase 2 and 3 work programs under the option agreement, the Company is seeking shareholder approval at its AGM scheduled for February 15, 2013 for share issuances that would increase the shareholdings of the optionor above 20% of the issued shares of the Company.

    The Company's submission of the acquisition included a NI43-101 Geological Technical Report completed by Wayne M. Ash, P.Eng of Ash & Associates Consulting Ltd. and David K. Makepeace, P.Eng. of Micon International Limited.

    The deposit has been extensively explored and developed by several operators, including Noranda, Rio Algom, BP Minerals, Bethlehem Resources Corp., Northair Mines Ltd. and Hudson Bay Mining & Smelting. An extensive database is under review which covers work that includes 596 drill holes totaling 189,000 feet (57,250 metres) of core drilling and 8,500 feet (2,575 metres) of underground workings, extensive geophysics and sampling consisting of 17,150 analyses for gold, copper and silver.

    Bench-scale metallurgical test-work was conducted by three companies including Lakefield Research, Gary Hawthorn (Northair Group) and PRA Labs between 1985 and 2005. The results of locked-cycle tests indicated recoveries of 81% Au and 93% Cu. A concentrate grading 24% Cu was projected from a mineral head grade in the order of 7.0 g Au/t and 0.9% Cu.

    The Company has initiated the permitting process in anticipation of the final TSX-V approval and initiating work at Willa in early spring. Work will include determination of all the permits required for further exploration and development at the Property and bulk sampling, and also include commencement with permit applications and negotiations.

    Company president Akash Patel comments, "With the Willa deposit having had historical exploration expenditures of approximately CDN$ 18 million to develop it to its present status, we believe the project will offer Discovery Ventures shareholders significant value in today's exciting gold market."

    If you would like to be added to Discovery's news distribution list, please send your email address to info@discoveryventuresinc.com or visit our website located at www.discoveryventuresinc.com.

    David K. Makepeace, P. Eng. and Wayne M. Ash, P.Eng. are the Qualified Persons who have reviewed and approved the technical data in this news release.

    AKASH PATEL, President

    This press release contains projections and 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 such as the statement that the closing of the Agreement may occur and that the option may be exercised. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the agreement for any reason. 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.

    About Discovery Ventures Inc.

    Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on four core assets including the Willa deposit located 8km south of Silverton in the Slocan mining region; Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; the Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totaled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit.
     
  7. mickymoose99

    mickymoose99 Member

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    Discovery Ventures (DVN.V) Now a TSX Venture 50(R) Company

    Discovery Ventures (DVN.V) Now a TSX Venture 50(R) Company



    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2013) -Discovery Ventures Inc. (TSX VENTURE:DVN) announces that it has been named to the TSX Venture 50® . The TSX Venture 50® are the top ten companies on the TSX Venture Exchange, in each of five major industry sectors - mining, oil and gas, technology and life sciences, diversified industries, and clean technology that have exhibited a strong track record in regard of returns on investment, market cap growth, trading volume and analyst coverage in 2012. Akash Patel, President and CEO of Discovery Ventures stated: "Our Company is honoured to have received this noteworthy ranking of the TSX Venture Exchange which also signals a strong endorsement of the efforts of the team here at Discovery who have been responsible for advancing our mission objectives during the current market environment."

    AKASH PATEL, President

    About Discovery Ventures Inc.

    Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on four core assets including the Willa deposit located 8km south of Silverton in the Slocan mining region; Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; the Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totaled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit.
     
  8. mickymoose99

    mickymoose99 Member

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    Discovery Ventures Inc. (DVN.V) Closes Willa Property Acquisition and Announces Resou

    Discovery Ventures Inc. (DVN.V) Closes Willa Property Acquisition and Announces Resource Estimate



    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2013) - Discovery Ventures Inc. ("Discovery" or the "Company") (TSX VENTURE:DVN) is pleased to announce that further to its news release of November 19, 2012, the TSX Venture Exchange ("TSXV") has accepted for filing a transaction wherein the Company was granted an option to acquire an interest in the Willa property located in the Slocan Mining Division, British Columbia, south of the town of Silverton B.C. (the "Property"). Pursuant to the option agreement with 0951719 B.C. Ltd (the "Optionor"), the Company has issued the Optionor 1,000,000 common shares as an initial tranche to earn an interest in the Property. The hold period expiry date in respect of this initial tranche of shares is June 20, 2013.

    The Willa Property is the subject of the National Instrument 43-101 technical report entitled "Technical Report On The Willa Deposit Slocan Mining District, British Columbia, Canada" dated November 23, 2012 and jointly authored by David K. Makepeace P.Eng. of Micon International Limited and Wayne M. Ash P.Eng. of Ash & Associates Consulting Ltd. (the "Technical Report") both independent of the Company as defined under NI 43-101. The Technical Report has been filed on SEDAR (www.sedar.com) under the Company's profile.

    The Company advises that the Technical Report has upgraded the historical mineral resource announced in the Company's November 19, 2012 news release from historical to a current mineral resource as defined by NI 43-101.

    The current mineral resource reported in the Technical Report is as follows:

    Willa Measured Mineral Resources



    Cut-off

    Tonnage

    Gold

    Copper

    Silver



    (g Au/t)

    (t)

    (g Au/t)

    (%Cu)

    (g Ag/t)



    1.5

    1,428,934

    3.97

    0.67

    8.97



    2.5

    814,970

    5.52

    0.84

    10.55



    3.5

    495,784

    7.18

    0.94

    12.16


    The Mineral Resource estimate within the Measured category based on a 3.5 g Au/t cut-off was: 495,784 t grading 7.18 g Au/t, 0.94 %Cu and 12.16 g Ag/t.

    Willa Indicated Mineral Resources



    Cut-off

    Tonnage

    Gold

    Copper

    Silver



    (g Au/t)

    (t)

    (g Au/t)

    (%Cu)

    (g Ag/t)



    1.5

    1,200,508

    2.96

    0.49

    7.46



    2.5

    522,487

    4.32

    0.59

    10.99



    3.5

    262,415

    5.71

    0.67

    13.26


    The Mineral Resource estimate within the Indicated category based on a 3.5 g Au/t cut-off was: 262,415 t grading 5.71 g Au/t, 0.67 %Cu and 13.26 g Ag/t.

    There is a combined Measured and Indicated resource of 758,199 t grading 6.67 g Au/t, 0.85 %Cu, and 12.54 g Ag/t.

    Willa Inferred Mineral Resources



    Cut-off

    Tonnage

    Gold

    Copper

    Silver



    (g Au/t)

    (t)

    (g Au/t)

    (%Cu)

    (g Ag/t)



    1.5

    915,727

    2.19

    0.32

    5.18



    2.5

    238,797

    3.07

    0.35

    6.23



    3.5

    73,591

    3.39

    0.29

    5.42


    The Mineral Resource estimate within the Inferred category based on a 3.5 g Au/t cut-off was: 73,591 t grading 3.39 g Au/t, 0.29 %Cu and 5.42 g Ag/t.

    The Technical Report reports that the companies that conducted the previous exploration and development programs on the Property ensured that all work was compiled and archived to the highest standard. The database used in calculating the 2005 mineral resource estimate has been preserved, is fully intact, and has been extensively reviewed by Mr. Makepeace and Discovery Consultants. A NI 43-101 mineral resource calculation was completed on the Willa Deposit by Mr. Makepeace in 2003, based on the historic drilling. Mr. Makepeace also acted as a supervisory consulting geologist during the 2004 diamond drill program, which included 39 additional hole checks and twinning of holes. He also completed several channel samples to re-confirm the mineralization and bulk sample results in the West Zone. Finally, Mr. Makepeace updated the 2003 mineral resources in 2005. Mr. Makepeace undertook and is responsible for both mineral resource estimates (2003 and 2005).

    The mineral resource estimates, which were valid in 2003 and 2005, have been verified and remains valid under current standards and since no mining production has occurred since that time, the 2005 mineral resource estimate is considered current.

    The Willa deposit is located in the Central Kootenay District of south-eastern British Columbia, Canada. It is approximately 425 km east-northeast of Vancouver, British Columbia and 270 km west southwest of Calgary, Alberta.

    Bench-scale metallurgical testwork was conducted by three companies including Lakefield Research, Gary Hawthorn (Northair Group) and PRA Labs between 1985 and 2005. The results of locked-cycle tests indicated recoveries of 81% Au and 93% Cu. A concentrate grading 24% Cu was projected from a mineral head grade in the order of 7.0 g Au/t and 0.9% Cu.

    The property has been on care-and-maintenance since 2005. Re-activation of the underground workings, environmental permitting and approvals, First Nation and community engagement, re-evaluation of the mineral resources at different cut-off grades, re-development of the mine design and re-evaluation of the capital and operating costs must be completed before an economic assessment of the deposit can be conducted.

    It is recommended that the next phase of work should include permits to re-open the portals and inspect the underground workings to identify any ground control issues. Additional permits will be required to improve the road access and create the surface facilities to further re-evaluate the workings. A permit will be required to obtain a bulk sample of the mineralized zones. Access to a mill to undertake the bulk sample will be required. The present map accuracy is +/- 10 m from a BC TRIM dataset. A more detailed aerial topographical survey to achieve a +/- 2 m accuracy map of the area for surface planning purposes and future mineral resource calculations is required. This phase of work is estimated to cost approximately CDN $606,000.

    David K. Makepeace, P. Eng. and Wayne M. Ash, P.Eng. are the Qualified Persons who have reviewed and approved the technical data in this news release
     
  9. mickymoose99

    mickymoose99 Member

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    Discovery Ventues Inc. (DVN.V) Announces the Appointment of Johnathan Cooper as a Di

    Discovery Ventues Inc. (DVN.V) Announces the Appointment of Johnathan Cooper as a Director



    VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2013) - Discovery Ventures Inc. ("Discovery" or the "Company") (TSX VENTURE:DVN) is pleased to announce the appointment of Johnathan M. Cooper as a Director of the Company.

    Johnathan Cooper is the president of Black Ink Communications, a technical writing and corporate communications firm with an emphasis on the resource industry. He has provided financial modeling services, corporate communications, and sat as a director for both public and private companies. Prior to this, Mr. Cooper was national sales manager with a European watch company where his duties included full P&L responsibility, financial forecasting, budget planning and management of a national sales team and 7 retail stores. Further, he was formerly a licensed stockbroker in Vancouver, BC where he specialized in resource based stocks, focusing on merger and acquisition opportunities. Mr. Cooper holds a bachelors degree from the University of British Columbia.

    The Company's President, Mr. Akash Patel states:

    "Discovery Ventures is pleased to welcome Mr. Cooper as a director of the Company. We are very pleased that he has agreed to work with the Company to develop its portfolio of properties."

    About Discovery Ventures Inc .

    Shares issued 34,659,749

    Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on four core assets including the Willa deposit located 8km south of Silverton in the Slocan mining region; Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; The Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totalled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit.
     
  10. mickymoose99

    mickymoose99 Member

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    (DVN.V) Announces it has Entered Into Discussions With Roca Mines Inc. Regarding Asse

    Discovery Ventures Inc.(DVN.V) Announces it has Entered Into Discussions With Roca Mines Inc. Regarding Asset Acquisitions



    VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 23, 2013) - Discovery Ventures Inc. ("Discovery" or the "Company") (TSX VENTURE:DVN) is pleased to announce that it has entered into discussions with Roca Mines Inc. and commenced due diligence efforts with respect to the potential acquisition assets.

    The permitting process for the development and rehabilitation of the Willa Deposit has been initiated. The Company expects to start work on the project as soon as permits to proceed are attained. The Wllia host a NI 43-101 compliant resource at a cut-off grade of 3.5 grams Ag/tonne (3.5 g/t), the Measured category of the Mineral Resource is 495,784 t with an average grade of 7.18 g Au/t, 0.94% Cu and 12.16 g Ag/t. The Indicated category at the same cut-off grade is 262,415 t grading 5.71 g Au/t, 0.67% Cu, and 13.26 g Ag/t, for a total mineral resource of the Measured and Indicated categories of 758,199 t grading 6.77 g Au/t, 0.86% Cu, and 12.54 g Ag/t. The Company has initiated several technical and corporate due diligence efforts on assets held by Roca Mines Inc., including its wholly owned subsidiary FortyTwo Metals Inc. the owner of the MAX Molybdenum Mine. MAX is a 500 tpd operation (currently on care and maintenance) located 125 km away from the Company's Willa Deposit that could serve as a potential site for the processing of mineralized material extracted from the Willa property.

    The Company's President, Mr. Akash Patel states:
     
  11. mickymoose99

    mickymoose99 Member

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    Discovery Ventures (DVN.V) and Roca Mines Announce Entry into Agreement for Discovery

    Discovery Ventures (DVN.V) and Roca Mines Announce Entry into Agreement for Discovery to Acquire Max Mine and Mill from Roca




    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 6, 2013) - Discovery Ventures Inc. (TSX VENTURE:DVN) ("Discovery") and Roca Mines Inc. ("Roca") are pleased to jointly announce they have entered into a binding letter agreement dated November 4, 2013 (the "Agreement") with each other and FortyTwo Metals Inc., a wholly-owned subsidiary of Roca ("FortyTwo"), whereby Roca granted an exclusive option to Discovery to acquire all of the issued and outstanding common shares of FortyTwo. FortyTwo holds, among other assets, the Max Mine which includes an underground molybdenum mine, crushing, milling and concentrating facilities, tailings storage facilities, mineral claims, mining leases, licenses and other holdings located near Trout Lake in the Revelstoke mining division of the Province of British Columbia. The Max Mine is located approximately 135 kilometres from Discovery's Willa Project and is a formerly producing molybdenum mine that operated from 2007 until November 2011 when depressed metal prices led to its closure. The Agreement and the transactions contemplated therein are subject to approval from the TSX Venture Exchange (the "Exchange").

    Akash Patel, President of Discovery, stated, "We are very excited about the proposed acquisition of the Max Mine and mill complex and the strategic synergies that may result by combining Discovery's existing Willa Project with the Max Mine processing facility."

    Summary of the Transaction

    Discovery may exercise the option and acquire all of the shares of FortyTwo for a total purchase price of $5.675 million, consisting of cash payments of $5,050,000 and the issuance of 2,500,000 shares of Discovery at a deemed price of $0.25 per share in accordance with the following schedule:
    •$50,000 paid to Roca as a non-refundable deposit upon entry into the Agreement;
    •$750,000 payable to Roca within 10 days of receipt of conditional approval from the Exchange (the "Approval Date"), following which the first stage of the option will be deemed exercised and Roca will transfer 16% of the share capital of FortyTwo to Discovery;
    •$950,000 payable to Roca within 60 days of the Approval Date, following which the second stage of the option will be deemed exercised and Roca will transfer 19% of the share capital of FortyTwo to Discovery (35% in the aggregate); and
    •$3.3 million payable to Roca and the issuance of 2.5 million shares of Discovery to Roca within 150 days of the Approval Date, following which the third and final stage of the option will be deemed exercised and Roca will transfer the remaining share capital of FortyTwo to Discovery.

    The majority of the purchase price will be used by Roca to maintain the Max Mine in good standing over the next few months until exercise of the option and to retire approximately $3.1 million in secured and unsecured liabilities of FortyTwo. Upon the exercise of the third stage of the option and the transfer of the remaining shares of FortyTwo to Discovery, FortyTwo will have no material liabilities or encumbrances.

    In addition to the Max Mine, FortyTwo also holds tax pools accumulated to date of approximately $50 million and the Max Project which consists of 59 mineral claims totalling approximately 5,489 hectares and certain undersurface rights located in Revelstoke mining division of the Province of British Columbia. Due to management's decision to focus on development of the Willa Project and current economic factors, Discovery takes the position that the Max Project is incidental to the proposed acquisition of FortyTwo and, once acquired, will not constitute a material property of Discovery. As a result, Discovery is not required under applicable securities law or policies of the Exchange to prepare a technical report on the Max Project in accordance with National Instrument 43-101 at this time. The Max Project is subject to a 2.5% NSR in favour of a third party, 60% of which (1.5%) may be repurchased at the price of $1 million for each 30% of the NSR (or 0.75%).

    Discovery intends to finance the acquisition of FortyTwo through one or more private placements on terms to be determined. In the event the first stage or the second stage of the option is exercised and subsequent stages are not exercised by Discovery for any reason, the parties have agreed to enter into a shareholders' agreement on terms as set out in the Agreement. Under such circumstances, the provisions of the shareholders' agreement are intended to protect Discovery's investment in FortyTwo by restricting certain corporate transactions and share transfers and to ensure that Discovery's investment in FortyTwo is protected in the event of a business combination involving FortyTwo.

    Summary of Discovery's Willa Project

    It is the strategy of Discovery to utilize the Max Mill to process minerals from Discovery's Willa Project. The Willa Project consists of 5,328 hectares and is located 8 kilometers south of the town of Silverton, British Columbia and is strategically located 135 highway kilometers from the Max Mill.

    Underground mine workings consist of two adit levels, an internal level with two declines and two raises connecting the levels. The main track haulage level (1,025 meters) is completed for 900 meters to the core of the mineralized zones.

    The Willa Project has been developed over time, with historic expenditures of approximately $18 million to develop it to its present status. Geological mapping, as well as Geochemical and geophysical surveys have led to 596 diamond drill holes totalling approximately 189,000 feet (57,250 meters) of core drilling and approximately 8,500 feet (2,575 meters) of underground workings. With the exception of a bulk metallurgical sample of 545 tonnes, no production mining has been commenced at the Willa Project.

    Discovery has a current NI 43-101 report for the Willa Project titled, "Technical Report on the Willa Deposit Slocan Mining District, British Columbia, Canada" dated November 23, 2012. At a cut-off grade of 3.5 grams Au/tonne (3.5 g/t), the Measured Mineral Resource category of the Mineral Resource is 495,784 tonnes with an average grade of 7.18 g Au/t, 0.94% Cu and 12.16 g Ag/t. The Indicated Mineral Resource category at the same cut-off grade is 262,415 tonnes with an average grade of 5.71 g Au/t, 0.67% Cu, and 13.26 g Ag/t, for a total Mineral Resource of the Measured and Indicated categories of 758,199 tonnes grading 6.77 g Au/t, 0.86% Cu, and 12.54 g Ag/t.

    Bench-scale metallurgical test-work was conducted by three companies including Lakefield Research, Gary Hawthorn (Northair Group) and PRA Labs between 1985 and 2005. The results of locked-cycle tests indicated recoveries of 81% Au and 93% Cu. A concentrate grading 24% Cu was projected from a mineral head grade in the order of 7.0 g Au/t and 0.9% Cu.
     
  12. mickymoose99

    mickymoose99 Member

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    Discovery Ventures (DVN.V) Announces Conditional Approval from TSXV of Proposed Acqui

    Discovery Ventures (DVN.V) Announces Conditional Approval from TSXV of Proposed Acquisition of Max Mine and Mill






    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 7, 2013) - Discovery Ventures Inc. ("Discovery") (TSX VENTURE:DVN) is pleased to announce it has received conditional approval from the TSX Venture Exchange with respect to the binding letter agreement dated November 4, 2013 (the "Agreement"). Pursuant to the terms of the Agreement, Roca Mines Inc. ("Roca") has granted an exclusive option to Discovery to acquire all of the issued and outstanding common shares of FortyTwo Metals Inc., a wholly-owned subsidiary of Roca. As discussed in Discovery's news release dated November 6, 2013, FortyTwo holds, among other assets, the Max Mine which includes an underground molybdenum mine, crushing, milling and concentrating facilities, tailings storage facilities, mineral claims, mining leases, licenses and other holdings located near Trout Lake in the Revelstoke mining division of the Province of British Columbia. The Max Mine is located approximately 135 kilometres from Discovery's Willa Project and is a formerly producing molybdenum mine that operated from 2007 until November 2011 when depressed metal prices led to its closure.

    Akash Patel, President of Discovery stated, "We are very excited about the proposed acquisition of the Max Mine and Mill complex and the strategic synergies that may result by combining Discovery's existing Willa Project with the Max Mine processing facility."

    If you would like to be added to Discovery's news distribution list, please send your email address to info@discoveryventuresinc.com or visit our website located at www.discoveryventuresinc.com.

    Akash Patel, President and Director, Discovery Ventures Inc.
     
  13. mickymoose99

    mickymoose99 Member

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    Discovery Ventures (TSX:DVN) Announces Closing of Its First Tranche Private Placement

    Discovery Ventures (TSX:DVN) Announces Closing of Its First Tranche Private Placement and Payment to Roca Mine






    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 15, 2013) -

    NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN OR INTO THE UNITED STATES.

    Discovery Ventures Inc. ("Discovery") (TSX VENTURE:DVN) announces that it has completed the first tranche of its previously announced private placement financing (the "Financing"), as described in its news release of November 8, 2013, pursuant to which it has issued an aggregate of 4,779,000 units (each, a "Unit") at a price of $0.21 per Unit for aggregate gross proceeds of $1,003,590. Each Unit consists of one common share of the Company (each, a "Share") and one share purchase warrant (each, a "Warrant"). One Warrant entitles the holder thereof to purchase one additional Share at a price of $0.35 per Share for a period of two years from closing of the Financing. All securities issued in the Financing will be subject to a hold period that expires on March 16, 2014. In connection with the closing of the Financing, Discovery paid a finder's fee of $60,215.40 and issued 286,740 Warrants to one finder.

    Discovery used part of the proceeds from the Financing to make a payment to Roca Mines Inc. ("Roca") of $750,000 pursuant to a binding letter agreement dated November 4, 2013 (the "Agreement") with Roca and FortyTwo Metals Inc., a wholly-owned subsidiary of Roca ("FortyTwo"). Following the payment, Discovery is deemed to have exercised the first stage of its option to acquire FortyTwo and Roca must transfer 16% of the share capital of FortyTwo to Discovery. For further information on the Agreement and FortyTwo, please see Discovery's news releases dated November 6, 2013, announcing the entry into of the Agreement, and November 7, 2013, announcing the conditional approval of the TSX Venture Exchange of the Agreement.

    If you would like to be added to Discovery's news distribution list, please send your email address to info@discoveryventuresinc.com or visit our website located at www.discoveryventuresinc.com.

    Akash Patel, President and Director

    Discovery Ventures Inc.
     
  14. mickymoose99

    mickymoose99 Member

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    Discovery Ventures (DVN.V) Announces Receipt of Final Approval from TSXV of Proposed

    Discovery Ventures (DVN.V) Announces Receipt of Final Approval from TSXV of Proposed Acquisition of Max Mine and Mill




    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 3, 2013) - Discovery Ventures Inc. ("Discovery") (TSXV: DVN) is pleased to announce it has received final approval from the TSX Venture Exchange with respect to the binding letter agreement dated November 4, 2013 (the "Agreement"). Pursuant to the terms of the Agreement, Roca Mines Inc. ("Roca") has granted an exclusive option to Discovery to acquire all of the issued and outstanding common shares of FortyTwo Metals Inc., a wholly-owned subsidiary of Roca ("FortyTwo"). As discussed in Discovery's news release dated November 6, 2013, FortyTwo holds, among other assets, the Max Mine which includes an underground molybdenum mine, crushing, milling and concentrating facilities, tailings storage facilities, mineral claims, mining leases, licenses and other holdings located near Trout Lake in the Revelstoke mining division of the Province of British Columbia. The Max Mine is located approximately 135 kilometres from Discovery's Willa Project and is a formerly producing molybdenum mine that operated from 2007 until November 2011 when depressed metal prices led to its closure.

    As discussed in its press release dated November 15, 2013, Discovery closed a private placement financing and used proceeds of $750,000 to exercise the first stage of the option in accordance with the Agreement, following which Roca transferred 16% of the shares of FortyTwo to Discovery. Discovery is currently making arrangements to raise an additional $950,000 in order to exercise the second stage of the option on or before the required date of January 5, 2013. Upon payment of the second tranche, Roca is required to transfer an additional 19% of the shares of FortyTwo to Discovery.

    If you would like to be added to Discovery's news distribution list, please send your email address to info@discoveryventuresinc.com or visit our website located at www.discoveryventuresinc.com.
     
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