03:36 PM EST - Discovery Ventures Inc. : announced the following WillaMAX Project update. The company completed, in May 2014, a Preliminary Economic Assessment (PEA) on the Willa Mine located on paved highway access approximately 8 Kilometers south of Silverton, BC. The PEA suggests an operating cost of gold of $680per oz. @$1200/Au. It also states an after Tax Net Present Value (NPV) of $54,958,000 with an after tax IRR % of 412%. At a cut-off grade of 3.5 grams Au/tonne (3.5 g/t), the measured category of the current resource estimate is 495,784 t with an average grade of 7.18 g Au/t, 0.94% Cu and 12.16 g Ag/t. Discovery Ventures Inc.
shares V.DVN are trading down $0.005 at $0.18.
