Ghanzi Copper Licences Renewed
01 Septiembre 2011 - 2:07AM
UK Regulatory
TIDMDME
AIM RELEASE
Discovery Metals Limited
Ghanzi Copper Licences Renewed
1 September 2011
Highlights:
* The Company's seven prospecting licences in the Ghanzi district of Botswana,
originally granted in 2008, have been renewed for a further two years.
* All areas of interest, within these prospecting licences, have been
retained.
* Discovery Metals remains the largest prospecting licence holder in the
Kalahari Copperbelt (now 8,877 square kilometres).
Commentary:
Discovery Metals Limited ('Discovery Metals' or 'Company') announces the renewal
of its seven Prospecting Licences (PLs) in the Ghanzi district, north-west
Botswana, which were originally granted in July 2008. As part of the renewal
process, the Company has relinquished some areas that, after analysis by the
Company, are not considered to be prospective. All areas applied for were
granted. The renewed tenements contain parts of the Mid Kalahari exploration
zone and the entire South-west Kalahari exploration zone.
The Company also holds an additional seven PLs, granted in October 2005, in the
Ngamiland District (which contains the Boseto Mining Licence area), and the
overall area now held by Discovery Metals covers 8,877 square kilometres (Table
1).
The Company is committed to progressing exploration of all of the renewed
tenements. Several historic prospects and new and significant geochemical
anomalies, including possible extensions of the Hana Mining Banana Mineral
Resource are exploration targets. The recently completed regional geochemical
and Heli-borne Aeromag programmes will assist the identification of targets.
Discovery Metals' Managing Director, Brad Sampson said "Renewal of these
Prospecting Licences is an important milestone towards our goal of finding
another Boseto style project to complement the Boseto copper project, which
remains on schedule for commissioning in the first half of 2012."
Table 1 (below) and Figure 2 (attached) provide details of the Company's granted
tenements in the Kalahari Copperbelt.
Table 1 - Discovery Metals PLs in the Kalahari Copperbelt
+-----------+----------------+--------------+--------------+------------+------+
| | ORIGINAL | NGAMILAND | NGAMILAND |GHANZI FIRST| |
| PL NUMBER | APPLICATION |FIRST RENEWAL |SECOND RENEWAL| RENEWAL |EXPIRY|
| | (km2) | (km2) | (km2) | (km2) | |
+-----------+----------------+--------------+--------------+------------+------+
|Grant Date | Oct-05 | Oct-08 | Oct-10 | | |
+-----------+----------------+--------------+--------------+------------+------+
| P98/2005 | 966 | 630 | 520 | |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P99/2005 | 985 | 893 | 890 | |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P100/2005 | 952 | 757 | 736 | |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P101/2005 | 762 | 426 | 380 | |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P102/2005 | 962 | 557 | 474 | |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P103/2005 | 844 | 463 | 223 | |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P104/2005 | 960 | 731 | 726 | |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| Sub-Total | 6,434 | 4,457 | 3,949 | | |
+-----------+----------------+--------------+--------------+------------+------+
|Grant Date | Jul-08 | | | Aug-11 | |
+-----------+----------------+--------------+--------------+------------+------+
| 186/2008 | 929 | | | 804 |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 187/2008 | 951 | | | 894 |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 188/2008 | 940 | | | 634 |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 189/2008 | 444 | | | 271 |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 190/2008 | 861 | | | 760 |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 191/2008 | 944 | | | 927 |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 192/2008 | 638 | | | 638 |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| Sub-Total | 5,707 | | | 4,928 | |
+-----------+----------------+--------------+--------------+------------+------+
|GRAND TOTAL 12,141 10,164 9,656 8,877 |
+------------------------------------------------------------------------------+
Boseto Copper Project Mineral Resources
The total Mineral Resources at the Boseto Copper Project are shown below.
+-----------------+------------------+------------------+-------------------+
|Mineral Resources| Zeta | Plutus and Petra | Total |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
| | Mt |Cu(%)|Ag(g/t)| Mt |Cu(%)|Ag(g/t)| Mt |Cu(%)|Ag(g/t)|
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|Measured |4.6 | 1.6 | 23.5 |0.1 | 1.3 | 11.4 | 4.7 | 1.6 | 23.2 |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|Indicated |12.4| 1.5 | 26.1 |11.5| 1.4 | 14.1 |23.9 | 1.5 | 20.3 |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|Subtotal M&I |17.0| 1.5 | 25.4 |11.6| 1.4 | 14.1 |28.6 | 1.5 | 20.8 |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|Inferred |27.1| 1.2 | 20.0 |55.8| 1.4 | 14.8 |82.9 | 1.3 | 16.5 |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|Total |44.1| 1.3 | 22.1 |67.4| 1.4 | 14.7 |111.5| 1.4 | 17.6 |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
Boseto Copper Project Mineral Resources at cut off grade of 0.6% Cu
Competent Persons Statement
The information in this report that relates to Exploration Results is based on
information compiled by Mr Fred Nhiwatiwa who is a Member of the Australasian
Institute of Mining and Metallurgy (MAusIMM). Mr Nhiwatiwa is a full-time
employee of the Discovery Metals Ltd. Mr Nhiwatiwa 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 (CP) as defined in the 2004 Edition of the "Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (The
JORC Code, 2004).
MIA Buildings under construction
The information in this report as it relates to the Zeta, Plutus and Petra
Mineral Resources for the Boseto Copper project was reviewed by Mr David Arnott,
who is a MAusIMM. Mr Arnott is employed fulltime by Snowden Mining Industry
Consultants Pty Ltd. Mr Arnott 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 CP as defined in The JORC Code,
2004.
Messrs Nhiwatiwa and Arnott consent to the inclusion in the report of the
matters based on information provided by them and in the form and context in
which it appears.
Managing Director, Brad Sampson, addressing staff in Gaborone
Discovery Metals Background
Discovery Metals is an ASX/AIM/BSE listed copper exploration and development
company focused on the emerging Kalahari Copperbelt in northwest Botswana. The
Company is currently developing its 100% owned Boseto Copper Project towards
production in the first half of 2012
The Kalahari Copperbelt sediment-hosted mineralisation of the Boseto Copper
Project is similar in style to the well-known and large deposits of the Central
African Copperbelt of Zambia and the Democratic Republic of the Congo.
Discovery Metals has prospecting licences covering 8,877 km2 along the Kalahari
Copperbelt.
Further information on the Company including Mineral Resources and Ore Reserves
is available on our website: www.discoverymetals.com
Forward looking statements
This release includes certain statements that may be deemed "forward-looking
statements". All statements in this discussion, other than statements of
historical facts, that address future activities and events or developments that
Discovery Metals expects, are forward-looking statements. Although Discovery
Metals believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from
those in the forward-looking statements. Factors that could cause actual
results to differ materially from those in forward-looking statements include
market prices, continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and that actual results or
developments may differ materially from those projected in forward-looking
statements.
For further information contact:
Discovery Metals Limited
Brad Sampson
Managing Director
Tel: +617 3218 0200
Fairfax I.S. PLC
Ewan Leggat / Laura Littley
Tel: +44 (0)20 7598 5368
Tavistock
Jos Simson/Emily Fenton
Tel: +44 (0) 207 9203150
Mobile: +44 (0)7899 870 450
Further information on the Company is available on its website:
www.discoverymetals.com.au
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Discovery Metals Limited via Thomson Reuters ONE
[HUG#1543357]
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