Shares in Discovery Metals (AIM: DME \ ASX: DML) came back from a temporary trading halt after the company announced at 46% increase in the copper resources at its Maun Project in Botswana. The total inferred resource for the project is now 46.1 million tonnes grading 1.3% Copper, using a 0.6% copper cut off grade.
The resource upgrade came from the Plutus Prospect where there is now 14.5 million tonnes grading 1.3% copper and 12.6 grams per tonne silver, using a 0.6% cut off grade. Discovery Metals has now increased the inferred resource at Maun by 130% in 12 months.
Jeremy Read, Managing Director of Discovery Metals added:
"Drilling is yielding a high conversion rate of prospects drilled to
Inferred Mineral Resources status which is highly encouraging,” Mr
Read said. “Plutus is a shallow deposit and we would expect that a
significant portion of the identified resource could be mined in an
open pit," he said.
"The Zeta prospect pre-feasibility study is now well underway, our
regional exploration program is being ramped up and with the
significant growth in our resource base we are looking forward to an
exciting 2008"