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Monday, October 18, 2021

Gold at Ruby Mining Claims; Discovery Minerals Ltd (otcmkts: DSCR) Commences Mining Operations at Legendary California Buried Placer Mine

Discovery Minerals Ltd (otcmkts: DSCR) has been running all of 2021 after taking off from its triple zero lows late last year. DSCR is emerging as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. Currently under heavy accumulation DSCR is moving steadily northbound with many new investors buying in every day. On Tuesday the stock traded $8 million in dollar volume on 300 million plus shares traded. 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. 

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 on this historic project. 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. On Tuesday DSCR reported management has just completed an extremally successful trip and has completed the meeting with the geologist at The Ruby Mine. 

Discovery Minerals Ltd (otcmkts: DSCR) is an acquisition and development company that targets natural resource properties and cutting-edge technology opportunities through its subsidiaries. The Board of Directors has determined that these activities be continued with an emphasis on early positive cash flow from any projects undertaken. 

In April DSCR completed an agreement to acquire the Ruby Mine from Sierra Gold LLC. Discovery’s geologists have commenced generating a 3-D model of the property and workings as well as geological evaluation and assessment of all known existing resource targets. 

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. 

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On April 20 DSCR announced the selection of Alt 5 Sigma Inc., for the development of its Discovery Coin (“DSG”) and Payment Gateway. The goal for creation of a gold-backed Discovery Coin is for revenue diversification to create liquidity and assist in monetizing gold resources 

According to the agreement, Alt 5 Sigma plans to mint a total of 210 million of the Discovery Gold Coins onto the Ethereum Blockchain with DSG. Once fully subscribed, the intent is for the Discovery Gold Coin to be tethered to 2,100 Bitcoins, 2,100 Ethers, 2,100 ounces of physical gold and 2,100 ounces of physical silver. In addition to the minting of the coin, Alt 5 Sigma will assist the company with payment processing, secondary listing, as well as deploying a merchant payment gateway using their proprietary technology, enabling merchants globally to accept Discovery Gold Coin as payments. 

“We have been exploring the creation of a gold-backed coin, leveraging gold reserve assets in mining claims. Alt 5 Sigma’s team and technology has really set themselves apart when it came time to select a blockchain technology provider,” said Russel Smith, President and CEO of Discovery Minerals. “The Discovery Gold Coin is a great opportunity for both our shareholders and holders of the Coins alike. As the Ruby gold mine consolidates into expanded production, Discovery Minerals Ltd will explore dedicating part of the reserves and production to the Discovery Gold Coin assets. Details of such a transaction are currently being formulated,” further added Mr. Smith. Mr. Andre Beauchesne, Chairman of ALT 5 Sigma, applauded this concept as being positive for both Discovery Gold Coin and Discovery Minerals Ltd . 

On May 4 DSCR stated on twitter: $DSCR – The company is pleased to announce it has completed the meeting with the geologist at The Ruby Mine. We had a extremely successful trip and will be tweeting more images from our meeting. 

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Discovery Minerals Ltd (otcmkts: DSCR) has been running all of 2021 after taking off from its triple zero lows late last year. DSCR is emerging as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. Currently under heavy accumulation DSCR is moving steadily northbound with many new investors buying in every day. On Tuesday the stock traded $8 million in dollar volume on 300 million plus shares traded. 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.  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 on this historic project. 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. On Tuesday DSCR reported management has just completed an extremally successful trip and has completed the meeting with the geologist at The Ruby Mine. 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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