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Monday, October 25, 2021

Discovery Minerals Ltd (OTCMKTS: DSCR) Major Comeback as its Historic Ruby Mining Claim & Discovery Minerals Coin Gain Traction

Discovery Minerals Ltd (OTCMKTS: DSCR) has been on the move northbound in recent days after some time below a penny the stock is once again making moves towards recent highs of $0.036. The stock is getting noticed by some heavy hitters with dollar volume topping several million dollars per day. Currently under heavy accumulation DSCR is moving steadily northbound with many new investors buying in every day. DSCR is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars. A break over $0.036 and its blue skies ahead. The Company recently launched its Discovery Minerals Coin, a utility cryptocurrency. The Discovery Minerals Coin (“DSC”) is what is known as a Tethered Coin, whereby once fully distributed DSC will have a total of 2,100 Bitcoin, 2,100 Ethereum, 2,100 ounces of Gold, and 2,100 ounces of silver “backing” the coin.  

DSCR has been on the move since the Company completed the agreement with Sierra Gold LLC. to acquire the Ruby Mining claims and commence mining operations. The Ruby is one of California’s best-known buried placer mines and is considered by many to be one of the largest producing river channel mines of modern times. It features a system of gold-bearing Tertiary channels which have been reported to have already produced over 250,000 ounces of gold. The Ruby is also renowned for its production of course and jewelers-grade gold, with the largest gold nugget weighing 201 ounces or 17 pounds. It is conservatively estimated that 134,844 ounces of gold are available for near-term recovery from identified channels using the existing Ruby infrastructure. Placer refers to mining the buried watercourse riverbed at Ruby. There are 3.5 miles of river channels yet to be mined on the Ruby mining claims. Historically the channels have produced up to 106,000 oz per mile, indicating a potential of 370,000 oz of gold still to be mined from the buried placer. (310,000 oz Gold is worth $646 million dollars at current gold prices.  

Discovery Minerals Ltd (OTCMKTS: DSCR) operating out of Grass Valley, California, is an acquisition and development company that targets natural resource properties and cutting-edge technology opportunities through its subsidiaries. The Company recently acquired the Ruby Mine from Sierra Gold LLC. The Ruby is one of California’s best-known buried placer mines and is considered by many to be one of the largest producing river channel mines of modern times. It features a system of gold-bearing Tertiary channels which have been reported to have already produced over 250,000 ounces of gold. The Ruby is also renowned for its production of course and jewelers-grade gold, with the largest gold nugget weighing 201 ounces or 17 pounds. It is conservatively estimated that 134,844 ounces of gold are available for near-term recovery from identified channels using the existing Ruby infrastructure. Placer refers to mining the buried watercourse riverbed at Ruby.  There are 3.5 miles of river channels yet to be mined on the Ruby mining claims. Historically the channels have produced up to 106,000 oz per mile, indicating a potential of 370,000 oz of gold still to be mined from the buried placer.  

In addition to the well-established placer ore that will be mined initially, one of the most exciting features of the Ruby mine is the large greenstone belt formed in the Archean Age that is largely unexplored and is the source of the placer gold. The Discovery Minerals Geologists will be investigating this greenstone belt. There are clear indications of this occurrence in the Wolf Vein that produced 1625 oz of gold by the earlier miners from the vertical greenstone formation that underlies the buried river channels. Although only worked at very shallow depths underfoot from the main Ruby access tunnel, the production was reported to have averaged 10 grams per ton of gold at working widths. Using modern geological concepts & technologies that have emerged around the world in other gold mining areas, Discovery Geologists will use experience gained in the past 40 years were shut down mines have often doubled their original output of gold by starting new operations adjacent to and underneath these previous operations. Geologists have proposed that with careful evaluation and a judicious drilling program a substantial new resource could be uncovered.  

The Ruby Mine is located between Downieville and Forest City, in Sierra County, California, approximately 100 miles north of Sacramento and 90 miles west of Reno, NV. The property covers approximately 1,755 acres consisting of the subsurface mineral rights and mining claims. Identifying additional channels as well as lode deposits in quartz veins that are known to exist on the property and will require additional development and geological survey work that has already commenced. The Ruby is fully permitted for mining operations and there is over $3.5M in equipment and infrastructure already in place which includes a fully operational treatment facility. The property also features an excellent system of roads and is accessible via paved highway from Reno or Sacramento, has abundant water and timber available for mining use, and has PG&E power available on-site.  

On May 11 DSCR launched its Discovery Minerals Coin, a utility cryptocurrency. The Discovery Minerals Coin (“DSC”) is what is known as a Tethered Coin, whereby once fully distributed DSC will have a total of 2,100 Bitcoin, 2,100 Ethereum, 2,100 ounces of Gold, and 2,100 ounces of silver “backing” the coin. 

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Earlier this year DSCR reported it has engaged Simon Meldrum as Senior Geologist and completed a comprehensive site assessment on its Ruby Mining claims 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. 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. The most exciting aspect of new exploration are four quartz occurrences in the greenstone belt. Only one of these occurrences, the Wolf Vein has been mined. The Wolf vein produced 1,600 oz of gold by the earlier miners from the vertical greenstone formation that underlies the buried river channels.  

Four identified quartz veins at the Ruby Mine, where only the Wolf Vein has been explored to 350 feet with most work well above that. Other mines in the surrounding Mining Districts have produced to well over 10,000 feet depth. Discovery Minerals expects to commence mining operations by July-August, 2021 to begin physical mining as well as winterize operations for year round mining and treatment. 

On June 22 DSCR announced completion of their geological review and work program for the Ruby Gold Mine on the widely known ” Mother Lode ” in Northern California. Discovery Minerals plans to re activate the Ruby Gold mine which worked deep lead (channel) placer gold over an extended period between 1878 and 1965. The mine development concept rests on three factors a) that sub ½ ounce alluvial gold which was considered waste rock over much of the mine’s history remains in place or as backfill b) that several kilometres of unworked paleo river channels remain to be mined as well and c) bedrock gold associated with orogenic type gold mineralised quartz lodes underlying and in close proximity to the buried gravel channels remain in place. 

The current work objective is to compile a three-dimensional model of the topography and historical data including the base of the overlying volcanics (post deep lead cover rocks), the gold bearing conglomeratic river channels from historical plans, the top of bedrock and within the basement metamorphic and greenstone geology (from underground workings and define the broad location, width, and orientation of known quartz-gold lode structures. The Company CEO, Russell Smith, stated that with the use of modern Geophysics and drilling the Company will transform the gold bearing gravel mining operation into a major gold producing area over time. 

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DSCR has been on the move northbound in recent days after some time below a penny the stock is once again making moves towards recent highs of $0.036. The stock is getting noticed by some heavy hitters with dollar volume topping several million dollars per day. Currently under heavy accumulation DSCR is moving steadily northbound with many new investors buying in every day. DSCR is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars. A break over $0.036 and its blue skies ahead. The Company recently launched its Discovery Minerals Coin, a utility cryptocurrency. The Discovery Minerals Coin (“DSC”) is what is known as a Tethered Coin, whereby once fully distributed DSC will have a total of 2,100 Bitcoin, 2,100 Ethereum, 2,100 ounces of Gold, and 2,100 ounces of silver “backing” the coin. DSCR has been on the move since the Company completed the agreement with Sierra Gold LLC. to acquire the Ruby Mining claims and commence mining operations. The Ruby is one of California’s best-known buried placer mines and is considered by many to be one of the largest producing river channel mines of modern times. It features a system of gold-bearing Tertiary channels which have been reported to have already produced over 250,000 ounces of gold. The Ruby is also renowned for its production of course and jewelers-grade gold, with the largest gold nugget weighing 201 ounces or 17 pounds. It is conservatively estimated that 134,844 ounces of gold are available for near-term recovery from identified channels using the existing Ruby infrastructure. Placer refers to mining the buried watercourse riverbed at Ruby. There are 3.5 miles of river channels yet to be mined on the Ruby mining claims. Historically the channels have produced up to 106,000 oz per mile, indicating a potential of 370,000 oz of gold still to be mined from the buried placer. (310,000 oz Gold is worth $646 million dollars at current gold prices. We will be updating on DSCR when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with DSCR.

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Disclosure: we hold no position in DSCR either long or short and we have not been compensated for this article.

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