What is Discovery Metals?
Discovery Metals Corp. is a Canadian exploration and development company based in Toronto, Canada, with a strategic focus on mineral-rich regions in Mexico. The company's flagship asset is the 100%-owned Cordero silver project located in Chihuahua State, Mexico. This extensive 35,000-hectare property encompasses a substantial resource and numerous exploration targets for various deposit styles, including bulk tonnage diatreme-hosted, porphyry-style, and carbonate replacement deposits. Additionally, Discovery Metals is actively exploring approximately 150,000 hectares in Coahuila State, Mexico, which features high-grade silver-zinc-lead showings and historical workings, though it has not yet undergone extensive drill testing.
How much funding has Discovery Metals raised?
Discovery Metals has raised a total of $44.9M across 2 funding rounds:
Share Placement
$19M
Share Placement
$25.9M
Share Placement (2019): $19M with participation from Eric Sprott
Share Placement (2020): $25.9M, investors not publicly disclosed
Key Investors in Discovery Metals
Eric Sprott
Eric Sprott, a notable figure in the precious metals investment space, has provided backing to Discovery Metals, suggesting a focus on the company's silver and base metal exploration potential.
What's next for Discovery Metals?
The substantial enterprise-level funding received by Discovery Metals positions the company for accelerated growth and expanded exploration activities. The recent strategic investment signals strong confidence from backers in the company's flagship Cordero project and its broader exploration portfolio in Mexico. This capital infusion is expected to facilitate further resource definition, target generation, and potentially the advancement of key projects towards development, solidifying Discovery Metals' trajectory in the competitive mining sector.
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