Discovery Metals Limited (DME) – Results of recent soil geochemistry program

Discovery Metals Limited (DME) announces the results of the recent soil geochemistry program conducted along the south west strike extension of the Petra prospect  at the Boseto Copper Project (100%) in North West Botswana. The zones tested were targeted on the basis of the Company’s well established mineralisation model for the Kalahari copper belt:

• This newly discovered surface anomalism is approximately 50m wide and is of a higher grade than the anomalism defined by previous geochemical testing using the same method at the Zeta Plutus and Petra prospects where a total Mineral resource of 50.4Mt @1.3% Cu and 17.6 g/t Ag has been defined
• A total of 12kilometre  of prospective strike length was covered in the soil geochemistry programme
• Significant surface copper anomaly  was identified along a 3.6km  strike length immediately to the south west of the existing Petra prospect (Inferred Mineral Resource of 4.5Mt @ 1.1% Cu at a cut off of 0.6% Cu)
• A further 2 kilometre strike length of lower level copper  was identified approximately 8km  to the south west of Petra.

Discovery Metals’ Managing Director, Mr Brad Sampson said “The soil geochemistry programme at Boseto has delivered extensive strike lengths for follow up drilling at Quirinus and now Petra.  This reinforces our ability to deliver significant exploration outcomes at minimal cost and highlights the exceptional prospectivity of our tenements”.

“In respect of the Petra prospect it should be noted  that prior to obtaining these results the Petra prospect was  considered to be the smallest of the copper resources included in the Boseto Project evaluation. However, these new results indicate that we have probably discovered a significant extension to the Petra prospect. Petra now has the potential to contribute to a significant increase in the total mineral resource base of the Boseto Project BFS once the silver credits, a north east strike extension and the   possible south west strike extension are considered. 

The proximity of the new anomalous area to resources currently being drilled out as part of the BFS and its width and strength mean that Discovery will have to reprioritise the current drilling programme to test the area as soon as possible. Currently, the BFS is 40% complete and is on time and budget, but we may decide to delay the BFS drill out while we study the implications of upgraded resources on the mining schedule. Establishment of higher grade and/or lower strip ratio resources will give us the ability to enhance the project returns and we want to make sure that we concentrate the BFS drill out in the best mining areas.”