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Last C$0.12 CAD
Change Today -0.01 / -8.00%
Volume 320.7K
DVN On Other Exchanges
As of 3:57 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

discovery ventures inc (DVN) Snapshot

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09/4/14 - C$0.42
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discovery ventures inc (DVN) Details

Discovery Ventures Inc., a natural resource company, acquires, explores, and develops mining properties in Canada. The company explores for gold, copper, and silver deposits. It primarily holds interests in the Rabbitt Mine property with 19 mineral claims located in the Similkameen mining division, British Columbia. The company was incorporated in 1999 and is headquartered in Vancouver, Canada.

discovery ventures inc (DVN) Top Compensated Officers

President, Director and Member of Audit and F...
Total Annual Compensation: C$29.9K
Chief Financial Officer, Director and Member ...
Total Annual Compensation: C$40.7K
Compensation as of Fiscal Year 2013.

discovery ventures inc (DVN) Key Developments

Discovery Ventures Inc. Appoints Dan Omeniuk as Director, CEO and Chairman of the Board of Discovery

Discovery Ventures Inc. announced that it has appointed Dan Omeniuk as Director, CEO and Chairman of the Board of Discovery, effective July 09, 2015. Dan is the president of Trappers Transport, a North American leader in providing temperature controlled transportation services. Dan is the founder of Trappers Transport and has led this company from being a small business to an industry leader over the last 30 years.

Discovery Ventures Inc. Makes Formal Application with the Ministry of Mines for a 10,000 Tonne Bulk Mine Permit for Willa Project

Discovery Ventures Inc. announced that the company has made formal application with the Ministry of Mines for a 10,000 tonne bulk mine permit on Willa Mine project. The 10,000 tonne bulk sample is recovered under a usual Notice of Work, which entails identifying all works that are proposed, along with detailed plans of the operation, including a Mine Emergency Response Plan. In addition, a Metal Leaching and Acid Rock Drainage Prediction and Prevention Plan is required. These plans have been initiated by the company. The permit allows for trenching, blasting, drilling, underground exploration and a 10,000 tonne bulk sample, subject to certain terms and conditions. The 2015 portion of the work will commence in the near future and will include re-opening underground portals for exploration, mine planning and engineering; and rehabilitation of access roads. The proposed mining method at Willa mining project will utilize long-hole stoping and shrinkage stoping. It is estimated that the majority of the economically-exploitable Mineral Resources will be amenable to long-hole mining methods, with minimum stoping widths of five metres and maximum widths in some stoping blocks exceeding thirty metres. Shrinkage stoping methods will be applied in cases where the mineral width is less than five metres, but where the grade is sufficiently high to warrant the expected higher unit development and stoping costs. Additional drilling will be conducted during both development and production phases to better define additional mineral blocks. Following, or even during the 10,000 tonne bulk sampling, the Company intends to apply for a Small Mines Permit to remove up to 75,000 tonnes per year. This can be done under a Notice of Work to the Mines Inspector. In addition, the Company will apply to have the Mineral Claim converted to a Mineral Lease, which is done by application to the Provincial Government.

Discovery Ventures Inc. Announces Positive Results from the Current Metallurgical Test Work Program

Discovery Ventures Inc. announced it has received positive results from the current metallurgical test work program, conducted by MetSolve Labs on the intermediate-grade mineral samples from the Willa Mine. Discovery arranged for MetSolve Labs of Langley, British Columbia, an independent arm's length laboratory, to perform metallurgical testing on intermediate-grade gold and copper mineral samples from the Willa Mine to confirm the accuracy of certain historical metallurgical test work conducted in the 1980's and in 2004 as set out in the NI 43-101 compliant Technical Report on the Willa Deposit, issued November 23, 2012. This historical metallurgical test work was based on high-grade mineralization taken from chip and muck samples from one section of the West Zone and indicated metallurgical recoveries ranging from 78.8 to 83% for gold and 86.6 to 93.9 % for copper. A Qualified Person has not done sufficient work to assess the relevance or reliability of the historic samples, or to verify the historic data or assumptions relating thereto. For the current metallurgical test program, diamond drill core from the 2004 diamond drilling program was taken from holes drilled over a wider range of the West Zone and was broken into three categories: a) sub-grade (value less than USD 115/tone), Intermediate-grade (value USD 115 to USD 174/tone) and High-grade (USD 175/tone or greater). The dollar values are in Canadian funds, based on a world gold price of USD 1,200/troy oz., a copper price of USD 3.00/lb., and a silver price of USD 20.00/troy oz., and taking into account internal and external mine dilution, milling recoveries of 82% for gold, 82% for silver, and 90% for copper, transport of copper concentrate, plus expected smelting and refining costs and losses, and a CAD at USD 0.90. The current phase of metallurgical testing of gold and copper mineral samples was conducted on the Intermediate grade mineralization in order to determine the bias, if any, in the historical test results relating to high-grade mineral samples. Discovery expected that the metallurgical recoveries from the Intermediate grade mineral would be lower than the high-grade mineral samples tested historically since generally, lower grade mineral tends to result in lower metallurgical recoveries. The results of the most recent test current metallurgical test work on the intermediate-grade gold and copper mineral samples, however, indicated recovery of 84.7% for gold and 95.8% for copper, an increase rather than the expected decrease. Discovery believes that the increase in recoveries is due, in part, to the extraction of a gold-bearing pyrite concentrate. Discovery notes, however, that assuming the copper associated with the pyrite concentrate cannot be recovered, the overall recovery of copper would drop to the range of 90 to 92%. Recovery of the gold-bearing pyrite concentrate resulted in an extremely low sulfide content in the final tailings, a condition seldom met in other tailings deposits. The sampling was restricted to the diamond drill core recovered from the 2004 drill program, since core from earlier drilling was not available. The sampling was restricted to the ten holes drilled on the West Zone.


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