Discovery Gold Corp - DCGD
Discovery Gold Corporation is an emerging U.S. based mineral exploration company offering shareholders the opportunity to participate in the ownership of high-potential international gold exploration and development.
The Company’s wholly-owned subsidiary, Discovery Gold Ghana Limited, holds a 95% interest in the exclusive rights to explore the Edum Banso Gold Project within the historic and prolific gold producing Ashanti Gold Belt in Ghana.
Discovery Gold is well-positioned to take advantage of the largest gold bull market in history with recent spot prices for gold reaching over US$1600 per ounce. Global inflationary pressures and economic uncertainties are expected to further support gold prices and demand.
The Company’s corporate strategy is to grow through acquisition and exploration of high quality properties within established mining regions.
Discovery Gold is well-positioned to take advantage of the largest gold bull market in history with recent spot prices for gold reaching over US$1600 per ounce. Global inflationary pressures and economic uncertainties are expected to further support gold prices and demand. The Company’s corporate strategy is to grow through acquisition and exploration of high quality properties within established mining regions.
The Company’s wholly-owned subsidiary, Discovery Gold Ghana Limited, holds a 95% interest in the exclusive rights to explore the Edum Banso Gold Project within the historic and prolific gold producing Ashanti Gold Belt in Ghana. The Edum Banso Gold Project is located within the prolific gold producing Ashanti Gold Belt, in very close proximity and geologically similar to Golden Star Resources’ (AMEX:GSS, TSX: GSC) producing Wassa/HBB open pit deposits (180,000 oz./year production) and the multi-million ounce Nzema Gold Mine (100,000 oz./year) operated by the recently merged Adamus Resources and Endeavour Mining (TSX: EDV). The project is also located less than 10km from the recent high profile gold discovery made by Castle Peak Mining at Akorade.
The Edum Banso Gold Project represents a high quality exploration property with four known zones of gold mineralization and the potential to host both large tonnage low grade gold deposits and high grade lode gold deposits. Extensive physical, geophysical, and geochemical exploration conducted to date, indicate a major anomalous gold area approximately 8 km long and 600 m wide.
Edum Banso Gold Project
The Edum Banso Gold Project covers 20.60 km2 located approximately 35 km northwest of Takoradi in the southeastern frontier of the prolific gold producing Ashanti Gold Belt, which is estimated to currently host over 168,000,000 ounces of total proven gold reserves. Recent multi-million ounce gold discoveries and merger/acquisition transactions involving major, mid-tier and junior companies continue to demonstrate the enormous untapped exploration potential of the region.
Previous exploration conducted on the Edum Banso concession by Newmont Gold (2004) and Xtra-Gold Resources (2008) included extensive geophysical (aeromagnetic) interpretation, soil and stream sediment sampling (5,758 total samples), trenching, auger drilling, and rock chip sampling. To date, four distinct mineralized gold zones have been identified over an area approximately 8 km long and 600 m wide, including two southern zones sharing contact with the unique Mpohor Complex geologic structure, one of the largest known gold bearing synvolcanic mafic intrusives on the African continent. The Mpohor Complex also hosts the Golden Star Resources producing Wassa/HBB open pit gold deposits (180,000 oz./year production) less than 3 km away to the southeast.
Stephen E. Flechner, President, brings nearly 35 years of mining management and consulting experience to the Company. From 1978 to 1993, he held the positions of Vice President & General Counsel of Gold Fields Mining Company, the U.S. operating subsidiary of former global mining giant Consolidated Gold Fields. During his tenure with Gold Fields, the organization grew from 12 to 1200 people while acquiring, exploring, permitting, financing, developing, and operating three highly profitable gold mines (Ortiz, Mesquite & Chimney Creek), producing an aggregate of 400,000 oz. gold/year. The Mesquite and Chimney Creek mines were subsequently acquired by Newmont Mining.
Later in the 1990s, Steve served as president of a TSX-V listed mining company that acquired and explored an early stage gold project in Ghana. Subsequently, he consulted to a TSX company regarding gold and uranium acquisitions in Europe and Nevada, culminating in a $40 million bought deal financing. More recently, he served as president/consulting counsel of a TSX-V company which acquired South Korea’s largest past producing gold and tungsten mines (a subsidiary of Berkshire Hathaway recently agreed to joint venture the tungsten project). He currently consults with other gold exploration and development companies. Mr. Flechner is a graduate of the Yale Law School and has lectured at the Rocky Mt. Mineral Law Institute on “Environmental Laws & Regulations Governing Gold Mining”.
David Cutler, Chief Financial Officer, began his career with the accounting firm Arthur Andersen & Co and has since served as CFO for companies involved in mining, energy, and telecommunications. He currently serves as a consulting CFO for a publicly quoted mineral exploration company with a gold project in Mexico. Mr. Cutler has an Executive MBA from Colorado State University, as well as a master’s degree from Cambridge University in the United Kingdom. He is a US Certified Public Accountant, a Certified Valuation Analyst, and a British Chartered Accountant.
Ralph Shearing, Senior Geologist and Director, has over 25 years experience in mining and has been directly involved in several world class exploration and development projects. He has hands-on experience in all aspects of mineral exploration, including geophysics, geochemistry, geology, and diamond core drilling. Ralph has a B. Sc. Geology degree from UBC.
Donald Ross, Director and Largest Shareholder, is founder and President of Discovery Gold Ghana, a wholly-owned subsidiary of the Company. He is also founder and CEO of BDM Marketing, a firm specializing in automobile finance. Prior to launching BDM in 2000, Mr. Ross spent over 30 years as a senior operational manager with UPS, retiring in 2000 following their IPO.
2460 West 26th Avenue
Denver, CO 80211