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Discovery Harbour Terminates Agreement to Purchase 100% Ownership of Nevada Project.
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2016) - Discovery Harbour Resources Co...
About this update from Discovery Harbour Resources Corp.
[{"type":"text","content":"Discovery Harbour Terminates Agreement to Purchase 100% Ownership of Nevada Project.Vancouver, British Columbia--(Newsfile Corp. - June 20, 2016) - Discovery Harbour Resources Corp. (TSXV: DHR) (\"DHR\" or the \"Company\") announces the termination of an agreement for the acquisition of a 100% ownership of the 2BAR project located in the Table Mountain Mining District, Churchill County, Nevada. The Company entered into an Exploration License with Option to Purchase (the \"Agreement\") a 100% interest in eleven patented mining claims comprising approximately 227.26 non-contiguous acres (91.97 hectares) on June 19, 2014.The Company's exploration activities at the 2BAR project was comprised of 2 separate drilling campaigns, November, 2014 and June, 2015, an airborne magnetic survey, the staking of 205 unpatented mining claims, the collection of 781 regional soil samples and 78 stream sediment samples, an Induced Polarization geophysical survey, mapping and rock chip sampling. The drilling and Induced Polarization survey were done on the eleven patented claims, the balance of the work was done primarily on the 205 unpatented mining claims.The Company decided that the exploration results were not sufficient to justify making the annual upcoming option payment of US$50,000.00 for the eleven patented mining claims. DHR did have some positive results from the work on its wholly owned 205 unpatented claims and will decide later this summer whether it will proceed with further work on those claims.Discovery Harbour is actively pursuing new opportunities for acquisition and is presently doing diligence on an advanced-staged project with an inferred resource in a mining-friendly jurisdiction. Michael J. Senn, a licensed professional geologist, is the Qualified Person for Discovery Harbour Resources as described in National Instrument 43-101 has reviewed and approved the technical contents of this release.Please direct questions to Discovery Harbour Resources at (604) 689-1799.ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.\"Bruno Hegner\"Frank D. HegnerPresident, CEO, Corporate Secretary and DirectorDisclaimer for Forward-Looking Information Except for statements of historical fact, this news release contains certain \"forward-looking information\" within the meaning of applicable securities law. Forward-looking inform...