Discovery Metals Limited: New Zone of Higher Grade Copper and Silver at Zeta North East
13 Noviembre 2011 - 6:26PM
UK Regulatory
TIDMDME
14 November 2011
AIM ANNOUNCEMENT
Discovery Metals Limited
New Zone of Higher Grade Copper and Silver at Zeta North East
Highlights:
· Higher grade copper-silver mineralisation confirmed at the Zeta North
East Prospect, seven kilometres north-east of the Zeta deposit.
· Mineralised strike length of 3 kilometres remains open at depth.
· Significant diamond drilling intercepts include:
o GDDD1328 - 6.0 m @ 3.9% Cu & 74 g/t Ag;
o GDDD1333 - 4.7 m @ 2.2% Cu & 109 g/t Ag and
8.0 m @ 1.4% Cu & 33 g/t Ag;
o GDDD1334 - 5.2 m @ 1.9% Cu & 45 g/t Ag.
· Silver intercepts include 145 g/t Ag over 3.5 m.
· Receipt of further assay results is anticipated in December 2011.
Discovery Metals Limited ('Discovery Metals' or 'Company') reports highly
encouraging results from 6 diamond drill holes of a 12 hole programme at the
Zeta North East Prospect which is situated within the Company's 100% owned
Prospecting Licences in the Kalahari Copperbelt in north-west Botswana (Figure
1).
The Zeta North East Prospect is located in the Boseto Zone (Figure 2) and is
centered approximately 11 kilometres away from the 100% owned Boseto Copper
Project's concentrator. The Boseto Copper Project is currently under
construction and is scheduled to commence production in the first half of
2012. Planned production is approximately 36,000 tonnes of copper and more than
1 million ounces of silver per annum over an initial evaluated mine life of 15
years.
Discovery Metals' Managing Director, Brad Sampson said, "These results confirm
the existence of a potentially significant new zone of mineralisation located
only 11 kilometres from the Boseto Concentrator. We have intersected copper and
silver grades in this set of results that are higher than we have generally
identified in the Boseto area. This mineralisation does not currently form part
of the Mineral Resources for the Boseto Copper Project and we now intend to
progress the evaluation of this area as a priority so a JORC compliant Mineral
Resource estimate can be prepared. Discoveries like this demonstrate why we
remain excited by the prospectivity of the Kalahari Copperbelt and the potential
to find new Mineral Resources that can contribute to a larger, longer life
Boseto Copper Project as well as new standalone projects".
The drilling programme at Zeta North East is part of Discovery Metal's regional
exploration strategy. The Company is committed to progressing exploration
within the Boseto Zone to support both an extension of the current mine life and
an increase in capacity of the Boseto concentrator.
Drilling is currently in progress at both the north-eastern and the south-
western portions of the Mango Prospect within the Boseto Zone.
Separate exploration activity within the Mid Kalahari and South West Kalahari
Zones is aimed at discovering Mineral Resources to support a second standalone
processing facility.
Preparations are currently underway to commence an initial drilling programme at
the Coeus and Gaia Targets within the Mid Kalahari Zone.
North East Zeta Drilling Programme
Discovery Metals initially drilled the Zeta North East Prospect in 2007
following up on results from three historic drill holes and identified copper
silver mineralisation over a strike length of approximately two kilometres
(Figure 4). A review of near-mine prospects in mid-2011 highlighted Zeta North
East as having potential to add to the Mineral Resources base for the Boseto
Copper Project.
An additional 12 diamond drill holes have now been drilled at the Zeta North
East Prospect completing a programme that commenced in August 2011 and the
results of six of these holes are reported here in Table 1. These 12 holes were
designed to intersect copper-silver mineralisation at depths of between 15
metres and 130 metres below surface along a strike length of approximately three
kilometres.
The copper-silver mineralisation at Zeta North East remains open at depth.
All hole locations are shown in plan view in Figure 4 and a selection of results
are displayed in cross section in Figures 5 and 6.
All drill holes have intersected copper-silver mineralisation. The main
sulphide minerals identified from geological logging of core are chalcocite and
bornite.
Mineralisation intersected at Zeta North East has returned a number of high
silver assay results including drill hole GDDD1333 which returned an assay of
505 g/t Ag in a 0.8 m interval. Examination of the drill core determined that
silver in that particular interval is present as native silver hosted by a
quartz-calcite vein.
The outstanding assay results from the Zeta North East drill programme are
expected to be available in December 2011.
Table 1: Drill hole intercepts for the Zeta North East Prospect
+--------+-------+------------+----------+-------+-------+-------+-------------+
| | | | | | | | Geochemical |
| | | Northing/ | | Total | Min. | |Results over |
|Hole ID |Section| | Azi/Dip | Depth | From |Min. To| down hole |
| | |Easting (m) | | (m) | (m) | (m) | thickness |
| | |WGS84 SUTM34| | | | |(0.3% Cu cut-|
| | | | | | | | off) |
+--------+-------+------------+----------+-------+-------+-------+-------------+
| | | | | | | |5.0 m @ 1.1 %|
| | | | | | | | Cu & 13 g/t |
| | | | | 128.0| 113.0| 118.0| Ag |
| | | 7725008/ | -60 to +-------+-------+-------+-------------+
|GDDD1326|47400N | | 149.5 | | | | including |
| | | 714589 | +-------+-------+-------+-------------+
| | | | | | | |2.1 m @ 1.8 %|
| | | | | | | | Cu & 22 g/t |
| | | | | 128.0| 114.9| 117.0| Ag |
+--------+-------+------------+----------+-------+-------+-------+-------------+
| | | | | | | |6.0 m @ 3.9 %|
| | | | | | | | Cu & 74 g/t |
| | | | | 78.0| 62.0| 68.0| Ag |
| | | 7725642/ | +-------+-------+-------+-------------+
|GDDD1328|48450N | |-60 to 140| | | | including |
| | | 715381 | +-------+-------+-------+-------------+
| | | | | | | |5.0 m @ 4.5 %|
| | | | | | | | Cu & 85 g/t |
| | | | | 78.0| 63.0| 68.0| Ag |
+--------+-------+------------+----------+-------+-------+-------+-------------+
| | | | | | | |1.0 m @ 0.3 %|
| | | 7726629/ | | | | | Cu & 11 g/t |
|GDDD1329|50050N | |-60 to 150| 138.0| 124.0| 125.0| Ag |
| | | 716640 | +-------+-------+-------+-------------+
| | | | | | | |1.0 m @ 0.3 %|
| | | | | 138.0| 121.0| 122.0|Cu & 6 g/t Ag|
+--------+-------+------------+----------+-------+-------+-------+-------------+
| | | | | | | |7.5 m @ 1.4 %|
| | | | | 57.0| 14.5| 22.0|Cu & 3 g/t Ag|
| | | | +-------+-------+-------+-------------+
| | | | | | | | including |
| | | | +-------+-------+-------+-------------+
| | | | | | | |4.6 m @ 2.0 %|
| | | 7725960/ | | 57.0| 16.0| 20.6|Cu & 4 g/t Ag|
|GDDD1332|48950N | |-60 to 140+-------+-------+-------+-------------+
| | | 715800 | | | | |5.0 m @ 1.3 %|
| | | | | 57.0| 29.0| 34.0|Cu & 2 g/t Ag|
| | | | +-------+-------+-------+-------------+
| | | | | | | | including |
| | | | +-------+-------+-------+-------------+
| | | | | | | |3.4 m @ 1.7 %|
| | | | | 57.0| 29.6| 33.0|Cu & 1 g/t Ag|
+--------+-------+------------+----------+-------+-------+-------+-------------+
| | | | | | | |8.0 m @ 1.4 %|
| | | | | | | | Cu & 33 g/t |
| | | | | 100.4| 78.0| 86.0| Ag |
| | | | +-------+-------+-------+-------------+
| | | | | | | | including |
| | | | +-------+-------+-------+-------------+
| | | | | | | |4.0 m @ 2.3 %|
| | | | | | | | Cu & 56 g/t |
| | | 7725981/ | | 100.4| 80.0| 84.0| Ag |
|GDDD1333|48950N | |-60 to 140+-------+-------+-------+-------------+
| | | 715776 | | | | |4.7 m @ 2.2 %|
| | | | | | | |Cu & 109 g/t |
| | | | | 100.4| 89.0| 93.7| Ag |
| | | | +-------+-------+-------+-------------+
| | | | | | | | including |
| | | | +-------+-------+-------+-------------+
| | | | | | | |3.5 m @ 2.8 %|
| | | | | | | |Cu & 145 g/t |
| | | | | 100.4| 90.2| 93.7| Ag |
+--------+-------+------------+----------+-------+-------+-------+-------------+
| | | | | | | |5.2 m @ 1.9 %|
| | | | | | | | Cu & 45g /t |
| | | | | 126.0| 114.0| 119.2| Ag |
| | | 7725669/ | +-------+-------+-------+-------------+
|GDDD1334|48450N | |-60 to 140| | | | including |
| | | 715353 | +-------+-------+-------+-------------+
| | | | | | | |3.2 m @ 2.7 %|
| | | | | | | | Cu & 71 g/t |
| | | | | 126.0| 116.0| 119.2| Ag |
+--------+-------+------------+----------+-------+-------+-------+-------------+
Competent Persons Statement
The information in this report that relates to Exploration Results is based on
information compiled by Mr Wallace Gordon Mackay who is a Member of the
Australian Institute of Geoscientists. Mr Mackay is a full-time employee of
Discovery Metals Limited. Mr Mackay 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 Mackay consents to the
inclusion in the report of the matters based on his information in the form and
context in which it appears.
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 a near-term copper producer 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: +61 7 3218 0222
Fairfax I.S. PLC
Ewan Leggat / Laura Littley
Tel: +44 (0) 20 7598 5368
Tavistock
Jos Simson/Emily Fenton
Tel: +44 (0) 20 7920 3150
Mobile: +44 (0) 7899 870 450
New Zone of Higher Grade Copper and Silver at Zeta North East:
http://hugin.info/137928/R/1563379/484643.pdf
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#1563379]
Discov. Met (LSE:DME)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Discov. Met (LSE:DME)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
Real-Time news about Discov. Met (London Stock Exchange): 0 recent articles
Más de Discov. Met Artículos de Noticias