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Market:	ASX / AIM
Sector:	General Mining
EPIC:	DML
Latest Price:	1.34 (1.52% )
52-week High:	1.80
52-week Low:	1.13
Market Cap:	586.24M

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Discovery Metals

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 reports maiden resource for Selene copper deposit on Boseto project

Thursday, January 19, 2012 by Andre Lamberti

Discovery Metals (LON:DME, ASX:DML, BSE:DML) announced a maiden copper resource for the Selene deposit, part of the Boseto copper project in Botswana, which confirms the potential to increase the scale and mine life of Boseto.

The mineral resource for Selene stands at 15.95 million tonnes grading 1 per cent copper and 15.9 grams per ton silver. The estimate is based on 52 exploration drill holes totalling 5,343 metres.

Work at Selene has identified four zones of higher grade mineralisation which remain open at depth beyond the north eastern limit of drilling.

The deposit is located approximately 20 kilometres from the Boseto copper concentrator which is currently under construction.

Discovery is exploring for and developing multiple copper deposits within the Boseto area with a view to expanding the scale of the mine and to increasing the mine life at the project.

It is currently working on resource estimates for prospects such as Zeta North East and Mango.

The company plans to report new life of mine schedules incorporating portions of the mineral resources at the Selene deposit later this year.

Managing director Brad Sampson said: "The Selene mineral resource estimate is another important step towards defining the ultimate scale of the Boseto copper project.

"With recent drilling also returning encouraging results at the Zeta North East and the Mango prospects, the Selene estimate confirms that substantial upside mineral resource potential continues within the Boseto Zone."

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