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
Thursday, September 25, 2008
Fox-Davies Capital stays bullish on Discovery Metals
Fox-Davies Capital, broker to Discovery Metals, maintained its buy recommendation and share price target for the company after releasing additional drill results from the Boseto Copper Project.
In the flash not, Fox-Davies stated:
“Importantly, the mineralized intersections generally exceeded the average width of the existing Plutus interpretation. The Plutus prospect currently contains an inferred mineral resource of 14.5Mt grading 1.3% copper and 13g/t silver based on a 0.6% cut-off grade. The Plutus Resource remains open at depth and to the south-west.”
“This drilling forms part of the Bankable Feasibility Study. When the new resource figure is reported we anticipate that with the drilling closed into 200m spacing, the numbers will be of a higher quality and we anticipate increases in both grade and tonnage. This has the potential to have a significant impact, enhancing the recent Pre Feasibility Study.”
“As there has been no change to the reserves and resources yet, there have been no changes to our model. However, when the new resource figures are released we do anticipate a significant increase in ore resources.”
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In the flash not, Fox-Davies stated:
“Importantly, the mineralized intersections generally exceeded the average width of the existing Plutus interpretation. The Plutus prospect currently contains an inferred mineral resource of 14.5Mt grading 1.3% copper and 13g/t silver based on a 0.6% cut-off grade. The Plutus Resource remains open at depth and to the south-west.”
“This drilling forms part of the Bankable Feasibility Study. When the new resource figure is reported we anticipate that with the drilling closed into 200m spacing, the numbers will be of a higher quality and we anticipate increases in both grade and tonnage. This has the potential to have a significant impact, enhancing the recent Pre Feasibility Study.”
“As there has been no change to the reserves and resources yet, there have been no changes to our model. However, when the new resource figures are released we do anticipate a significant increase in ore resources.”
Other Discovery Metals articles
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18/12/08 Drilling boosts copper grade for Discovery Metal's Boseto Project
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24/07/08 Discovery Metals buoyed by pre-feasibility study for the Boseto Copper Project
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20/12/07 Discovery Metals: Solid Progress at Muan Copper Project
Other Discovery Metals news
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27/11/08 Discovery Metals identifies new copper anomaly that may extend Petra prospect in Botswana
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06/10/08 Discovery Metals ups tonnage and grade of Boseto Copper Project
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24/09/08 Discovery Metals' drilling at Plutus confirms continuity of ore
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22/08/08 Discovery Metals expands Plutus Copper Prospect
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20/08/08 Discovery Metals raises £3.1 million
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07/08/08 Discovery Metals extends strike of copper prospect to 18 kilometres
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14/07/08 Discovery Metals extends Plutus by a kilometre
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13/06/08 Discovery Metals expands footprint in Botswana
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05/06/08 Discovery Metals confirms copper potential at Quirinus
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27/03/08 Discovery Metals doubles length of Quirinus Prospect
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