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Discovery Minerals Commences Mining Operations
Discovery Minerals Commences Mining Operations.
About this update from Discovery Minerals Ltd.
[{"type":"text","content":"Discovery Minerals Executes Agreement with Sierra Gold LLC to acquire the Ruby Mine in California and has commenced preliminary work.GRASS VALLEY, CA / ACCESSWIRE / April 13, 2021 / Discovery Minerals LTD (OTC PINK:DSCR), is an acquisition and development company that targets natural resource properties and cutting edge technology opportunities is pleased to announce that it has 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 coarse 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 river bed 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 Geologis...