On April 16, 2025, Discovery Silver Corp. reported the completion of the previously announced acquisition of Newmont Corporation’s Porcupine Operations based in and near Timmins, Ontario, Canada.
Summary:
Mineralization at Hoyle Pond comprises multiple generations of quartz-carbonate-tourmaline albite veins, associated pyrite alteration envelopes, and disseminated pyrite mineralization.
The Hoyle Pond Main Zone and 1060 Zone deposits occur on opposite limbs of an open, northeast-plunging antiformal structure, hosted within carbonatized north-dipping tholeiitic basalts. The 7 Vein System occurs as a series of stacked, flat to gently northeast-dipping veins in the nose of the antiformal structure.
The Hoyle Pond Main Zone includes a series of generally northeast-striking, linked, quartz vein zones folded on a small scale with moderate west- and northeast-plunging axes.
The 1060 Zone consists of at least five main vein structures (1060 B1, B2 and B3 zones, A zone and Porphyry zone) with orientations ranging from north to northeast and a generally subvertical dip. The veins are strongly boudinaged, with the long axis of the boudin oriented from subhorizontal to shallow west–southwest plunging.
Alteration
The mineralization at Hoyle Pond occurs as coarse free gold in white to grey–white quartz veins with a variable ankerite, tourmaline, pyrite, and locally arsenopyrite, content. Alteration halos are generally narrow, consisting of mainly grey zones (carbon, carbonate, sericite, cubic pyrite) in the Hoyle Pond system and carbonate–sericite, plus fuchsite with pyrite, arsenopyrite and trace amounts of chalcopyrite and sphalerite within the 1060 structure.
Gold at the Hoyle Pond Mine predominantly occurs as coarse free gold in white to greyishwhite quartz veins with variable ankerite, tourmaline, pyrite, pyrrhotite and local arsenopyrite. Trace amounts of chalcopyrite and sphalerite have also been noted.
The Hoyle Pond Main Zone includes a series of generally northeast-striking, linked quartz vein zones. There are at least 11 veins of economic significance. These veins are folded on a small scale with moderate west and northeast plunging axes. The 1060 zone consists of at least five main vein structures with orientations ranging from north to northeast, are strongly boudinaged, and generally have a subvertical dip.
A series of auriferous zones occurs along what is termed the “South Trend”, stretching from the Bell Creek deposit (to the west of Hoyle Pond) for 6.4 km to the 1060 zone (includes Blackhawk–Vogel deposit, Owl Creek West, Owl Creek, Owl Creek East and the 950 zone). Mineralization in these zones consists of quartz–ankerite veining with varying amounts of pyrite, pyrrhotite and free gold.