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Discovery Harbour Advances Caldera Property Permitting, Amends Property Terms
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2020) - Discovery Harbour Resources Cor...
About this update from Discovery Harbour Resources Corp.
[{"type":"text","content":"Discovery Harbour Advances Caldera Property Permitting, Amends Property TermsVancouver, British Columbia--(Newsfile Corp. - June 3, 2020) - Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the \"Company\" or \"Discovery Harbour\") is pleased to announce positive progress towards receiving the required permits for a drill program on its Caldera gold project in Nevada. The Company has also negotiated improved property terms. The United States Forest Service (\"USFS\") has completed its review of the Exploration Plan of Operations (\"the Plan\") submitted by the Company (see News Release, April 8, 2020) in furtherance of the planned Caldera drill program. The USFS has determined the Plan meets the regulatory requirements to proceed with its environmental review. To conduct this review, the USFS has determined that only an archaeological survey will be required. The Company has engaged a Nevada contractor and expects that the required archaeological work will be completed within the next few weeks, at which point a report will be prepared and submitted to the USFS. The environmental review identifies the level of environmental impact and determines the form of impact assessment. Once a determination is made, the final environmental impact assessment will be completed. Future drilling will be subject to further USFS and other regulatory approvals.Mark Fields, the President and CEO of the Company, comments, \"We are pleased that our permitting is proceeding in a timely manner. We are on track to undertake a drill program this fall, subject to financing and final regulatory approvals. The Plan includes testing up to 10 drill targets in five separate mineralized areas. Our strategy is to drill 100 to 300 metres deeper than any previous drilling on the Caldera project. We believe the high-grade gold occurrences historically drilled over significant widths at or near surface were deposited by a deeper, potentially high grade, low sulphidation epithermal gold system. The planned drill program will be the first test to the necessary depth.\" (See News Releases, April 8, March 4, February 10, January 9, 2020).The Company is also pleased to announce an amendment to the Company's property option agreement to acquire a 100% interest in the Caldera project, subject to advance minimum royalty payments and a 2% retained ...