Discovery metals records higher copper grades in latest drilling at Maun project in Botswana
Discovery Metals Limited is ”on track” to increase the JORC compliant Inferred Resource at its Maun Copper Project in north-west Botswana after the latest drilling results showed consistently higher grades of copper-silver mineralisation than the previous resource estimate.
Highlights
Ӣ Drill hole GD055-06 intersected 11m @ 2.0% Cu and 32 g/t Ag within an interval of 16m @ 1.7% Cu and 28 g/t Ag from 77m Ӣ Drill hole GD054-06 intersected 10m @ 1.7% Cu and 25 g/t Ag within an interval of 15m @ 1.2% Cu and 18 g/t Ag from 85m Ӣ Copper-silver mineralisation grading in excess of 1.7% Cu has now been intersected over 1.45km of strike within the Zeta Inferred Copper Resource
Ӣ Drilling has now recommenced at the Zeta Inferred Copper Resource following the holiday break
Zeta Inferred Copper Resource
Discovery Managing Director, Mr Jeremy Read, said the latest drilling at the Zeta Inferred Copper Resource (20Mt @ 1.2% Cu) on the Maun Project had encountered potentially economic grades and widths of copper mineralisation, at shallow depth, in holes GD055-06 and GD054-06. ”We are very excited about the results for holes GD054-06 and GD055-06 as these holes have intersected grades of copper-silver mineralisation significantly above the currently defined 1.2% average Cu grade of the Zeta Inferred Copper Resource,” Mr Read said.
”Furthermore, the results from GD055-06 and GD054-06 have extended the higher grade core of the Zeta Inferred Copper Resource, where the grade is in excess of 1.7% Cu, for over 1.45 kilometres of strike and this higher grade core is still open along strike and down dip,” he said.
”One of the objectives of the current drilling at Zeta is to see if we can increase the average grade of the Inferred Copper Resource and these latest results are a very significant step towards achieving this goal and are positive for the ongoing assessment of the significant copper resources already defined on the project.”
Latest Results – Zeta Inferred Copper Resource Diamond Drill Program
The diamond drilling recently recommenced at the Zeta Inferred Copper Resource is part of a 6000m diamond drill program DML is undertaking on its 100% owned Maun Copper Project in NW Botswana. This drill program is designed to; (i) extend the existing Zeta Inferred Copper Resource (20Mt @ 1.2% Cu) to the south-west; (ii) complete drilling at P Grid to potentially allow the definition of an Inferred Resource and; (iii) to test new exploration targets. The first phase of drilling to extend the Zeta Inferred Resource to the south-west has been completed and infill drilling is currently in progress at Zeta.
Drill hole GD055-06, drilled on section 39700N, was drilled to test the along strike extension of high grade copper mineralisation intersected by historical drilling on section 40,000N. GD055-06 intersected 16m @ 1.7% Cu and 28 g/t Ag, from 77m, including 11m @ 2.0% Cu and 32 g/t Ag (Figure Three). Within this interval a higher grade section returned 5m @ 2.9% Cu and 45g/t Ag from 87m.
Drill hole GD054-06, drilled on section 39450N 250m south-west of GD055-06, was drilled to test the shallow up dip extent of copper mineralisation intersected in historical hole ZG005 which intersected 6.6m @ 1.9% Cu (Figure Two). GD054-06 intersected 15m @ 1.2% Cu and 18 g/t Ag, from 85m, including 10m @ 1.7% Cu and 25 g/t Ag.
Soil geochemical data suggests that the copper mineralisation intersected in GD054-06 and GD055-06 extends to the surface making it potentially amenable for extraction in an open pit.
Progress of Maun Copper Project Diamond Drill Program
To date approximately 75% (4560m) of the overall 6000m Maun Project diamond drill program has been completed. Assay results from only approximately 25% of drilling have been received to date. Including the two holes announced today, assay results for a total of five diamond drill holes drilled at the Zeta Prospect have now been received. Results for holes GD051-06, GD052-06 and GD053-06 were announced on 19 th October 2007.
The assay results for all drilling completed at the Zeta Inferred Copper Resource and the P Grid Prospect will be received from the laboratory by mid-February. The results from five holes at P Grid, whose results are currently outstanding, will be received within the next one to two weeks. Further results from the drilling completed to extend the Zeta Inferred Copper Resource to the south-west will be received by the end of January.
Two diamond infill holes are currently in progress on the Zeta Inferred Copper Resource. At the completion of these two holes drilling will commence at the G Grid North Prospect where nine holes are planned.
The information in this report that relates to Exploration Results is based on information compiled by Mr. Jeremy Read who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Read is a full-time employee of the Company. Mr. Read has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ”Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Read consents to the inclusion in this report of the information provided by him and in the form and context in which it appears.
