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1 year chart

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1 day chart

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Epic & Msn data
Epic DME
Time: 07:50:10
Mid Price: 7.00
Change Today: 0.00
Change % Today: 0.00
Fifty Two Week High: 30.50
Fifty Two Week Low: 6.50
Market Capital: 10.51
Period & price data
Period Price
Now: 7.00
3 Months ago: 14.50
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM
Sector: General Mining
News: Latest news
Web Site: Discovery Metals
Other Articles: 27-11-200806-10-200825-09-2008

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Discovery Metals

Discovery Metals combines an attractive portfolio of mineral assets in Africa and joint ventures in Australia. Its management team has a strong track record of success in finding and developing mineral resources. Currently Discovery Metals is concentrating on the assessment of the Boseto Copper Project in NW Botswana and the Dikoloti Nickel Project in NE Botswana. The Company moved into pre-feasibility mode for the Maun Copper Project in August 2007 with the aim of completing the pre-feasibility study by first quarter 2008.
Company information about: Discovery Metals
Wednesday, September 24, 2008

Discovery Metals' drilling at Plutus confirms continuity of ore

Shares in Discovery Metals held steady in early trading, masking the substantial progress the company reported this morning regarding infill drilling at the Plutus Prospect, which is part of the company’s flagship Boseto Copper Project in Botswana.

Today the company released drill hole date from 13 holes; all of the holes returned significant intercepts of copper-silver mineralisation. Highlights included 13 metres grading 2% copper and 20.4 grams per tonne silver from drill hole PSDD282.

Discovery stated that the results “generally exceed the average width of the existing Plutus interpretation” and that the infill drilling confirmed the continuity and robustness of the resource.  

The Plutus project is still open at depth and to the south-west. Discovery has already defined an inferred mineral resource of 14.5 million tonnes grading 1.3% copper and 13 grams per tonne silver using a cut-off of 0.6% copper.  The current drilling is part of a wider drill program to upgrade the resource as part of a Bankable Feasibility Study due for completion in the middle of 2009.

A updated mineral resource estimate for Plutus is anticipated to be completed in October.


Discovery Metals' MD, Brad Sampson said:


"Each new round of assay results from our drilling programme reinforces the
continuity of the mineralisation over extensive strike lengths at Boseto.  The increased data density we have obtained from this programme will allow better definition of the thicker and higher grade zones of mineralisation as well as progressing our understanding of the drill spacing required to upgrade the Inferred Mineral Resource categorisation on the existing resources, including the newly discovered Quirinus mineralisation."

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Disclaimer

This document is intended solely for the information of the particular person to whom it was provided by Proactive Investors Australia Pty Ltd and should not be relied upon by any other person. Although we believe that the advice and information which this document contains is accurate and reliable, Proactive Investors Australia Pty Ltd Limited has not independently verified information contained in this document which is derived from publicly available sources, directors and proposed directors and management. Proactive Investors Australia Pty Ltd assumes no responsibility for updating any advice, views, opinions, or recommendations contained in this document or for correcting any error or omission which may become apparent after the document has been issued. Proactive Investors Australia Pty Ltd Limited does not give any warranty as to the accuracy, reliability or completeness of advice or information which is contained in this document. Except insofar as liability under any statute cannot be excluded, Proactive Investors Australia Pty Ltd Limited and its directors, employees and consultants do not accept any liability (whether arising in contract, in tort or negligence or otherwise) for any error or omission in this document or for any resulting loss or damage (whether direct, indirect, consequential or otherwise) suffered by the recipient of this document or any other person.

This document has not been written for the specific needs of any particular person and it is not possible to take into account each investor’s individual circumstances and that investors should make their adviser aware of their particular needs before acting on any information or recommendation. Proactive Investors Australia Pty Ltd Limited, its employees, consultants and its associates within the meaning of Chapter 7 of the Corporations Law may receive commissions, underwriting and management fees, calculated at normal client rates, from transactions involving securities referred to in this document and may hold interests in the securities referred to in this document from time to time.

Disclosure of Interest

Proactive Investors Australia Pty Ltd and its associates may have owned shares in the above company as at the date of the report. This position is subject to change without notice.