Discovery Metals (DME) – Quarterly Report

HIGHLIGHTS
Boseto Copper Project Bankable Feasibility Study
• Project mineral resource of 50.4 million tonnes @ 1.3% copper & 18 g/t silver upgraded since Pre Feasibility Study (PFS)
• Pre Feasibility Study completed in July and key results announced
• PFS base case delivers an economically robust project with significant upside potential
• New resource further enhances PFS production and financial outcomes with head grade increase of 10% and potential for higher grade +2% Cu starter pit
• Bankable Feasibility Study (BFS) commenced and key consultant appointed
 
Exploration & Infill Drilling
• At the Quirinus prospect,
Geochemical soil sampling has identified 13.4 kilometres of copper anomalism
oThe northern limb, with previously identified anomalies over 3.3 kilometres, now extended to 8 kilometres
• At the Plutus prospect,
Recent drilling results increase Plutus prospect strike length by 1,000 metres to 8,500 metres while remaining open to the south west, towards the Petra prospect
Thirty seven drill holes located within the existing inferred mineral resource envelope returned very encouraging results
• Incorporating these results into the resource model resulted in the Plutus Inferred Mineral Resource increasing to 15.9Mt @ 1.6% Cu and 16.4 g/t Ag

Corporate Activities
• Capital raising of A$8.2 million to progress the Bankable Feasibility Study for the Boseto Copper Project
• Audited annual financial statements were released
• At the end of the quarter, Discovery Metals held AUD $10.6 million in cash