Discovery Metals (ASX: DML) combines a portfolio of mineral assets in Africa and joint ventures in Australia. Discovery Metals is focused on developing the Boseto Copper Project in north west Botswana and to create shareholder wealth through discovery and development of economic mineral deposits.
The Company’s major asset and current focus is its Boseto Copper Project in north west Botswana. The company also controls the Dikoloti Nickel Project in north east Botswana. There are two smaller Australian projects which are joint ventured with the JV partners potentially earning into 51 percent equity.
Discovery Metals drilling reveals new areas of high grade copper in Boseto Zone in Botswana
Discovery Metals (ASX/BSE: DML) (AIM: DME) has identified new areas of high grade copper mineralisation from drilling at the Plutus and Selene deposits within the Boseto Zone in north‐western Botswana.
The company is currently developing its 100% owned Boseto copper project towards production in the first half of 2012. The Boseto Zone is part of Discovery's Kalahari Copper Belt Prospecting Licences covering 9,656 square kilometres.
The Kalahari Copperbelt sediment‐hosted mineralisation of the Boseto copper project is similar in style to the well‐known and large deposits of the Central African Copperbelt of Zambia and the Democratic Republic of the Congo.
Deep drilling at the Plutus Deposit has confirmed copper–silver mineralisation continues to depths in excess of 350 metres along 7 kilometres of strike.
Highlights include 6.2 metres at 1.4% copper (Cu) & 15.3 g/t silver (Ag)including 2.7 metres at 2.4% Cu and 29.3 g/t Ag.
Brad Sampson, Discovery Metals’ managing director, said “these results suggest we now have potential to develop additional underground mineral resources at Plutus that could contribute to increased operational flexibility, and an increased scale and/or life at the Boseto Copper Project.”
Assay results were received from the remaining 8 holes of an 11 hole deep drilling program. Three additional diamond drill holes have now been drilled to further test 1,200 metres of strike length in an area where initial drilling results suggest potential for underground mining.
These three holes all intersected copper silver mineralisation at about 250 metres below surface and assay results are expected during August 2011.
The company said further drilling is required to complete the assessment of potential for underground mineral resources at Plutus and is planned to commence late in 2011.
Assay results have also been received for 37 drill holes at Selene (28 Reverse Circulation & 9 Diamond) completed as part of 42 hole program.
All 42 holes have intersected copper‐silver mineralisation at depths belowsurface of between 25 metres and 200 metres along a strike length of morethan 7 kilometres.
Highlights include 5.2 metres at 2.2% Cu and 10.2 g/t Ag, and 7.0 metres at 1.8% Cu and 45.4 g/t Ag.
The company would be encouraged by the drill results at the 7km long Selene Prospect as they provide potential to develop additional open pit mineral resources that could contribute to increased production and/or mine life at the Boseto Copper Project.
“Selene represents potential for open pit mining that could, increase the mineral resource base for the nearby Boseto Copper Project, increase operation flexibility, increase mine life or contribute to increased scale of operations”, Sampson added.
Discovery expects assay results for the remaining five holes to be available in August 2011.
The Selene Prospect is located at the north–eastern extremity of the Boseto Zone and is within 20 kilometres of the project.
The company is planning production of about 36,000 tonnes of copper and more than 1 million ounces of silver per annum over an initial 15 year mine life at the project.
The mineralisation at Selene may offer potential for economic open pit mining. Initial internal assessment of the potential for Selene to provide feed to the Boseto concentrator will be undertaken late in 2011 and before any further drilling is undertaken at this prospect.
