Discovery Metals Limited: Mango Prospect defined over 36 kilometres of strike length
05 Diciembre 2011 - 12:02AM
UK Regulatory
TIDMDME
5 December 2011
AIM ANNOUNCEMENT
Discovery Metals Limited
Mango Prospect defined over 36 kilometres of strike length
Highlights:
· New zone of higher grade copper-silver mineralisation intersected
at the south west extension of the recently discovered Mango Prospect.
· Copper-silver mineralisation now confirmed along 20 strike
kilometres of the 36 kilometre prospective horizon at the Mango Prospect.
· Significant intercepts from 11 drill holes include:
o MGDD1387 - 4.4 m @ 3.2% Cu & 561 g/t Ag;
o MGRC1677 - 6.0 m @ 1.0% Cu & 153 g/t Ag.
· Higher silver grades intersected including an intercept of 561 g/t
over 4.4 metres.
· Drilling programme continues with further results anticipated in
the first quarter of 2012.
Discovery Metals Limited ('Discovery Metals' or 'Company') reports further
highly encouraging results from the ongoing drill programme at the recently
discovered Mango Prospect. Mango is situated within the Company's 100% owned
Prospecting Licences in the Kalahari Copperbelt in north-west Botswana (Figure
1), and is located within the Boseto Zone (Figure 2) approximately 30 kilometres
south of the concentrator at the Boseto Copper Project.
Discovery Metals' Managing Director, Brad Sampson said, "These higher grade
intersections at South West Mango further demonstrate the prospectivity of the
Kalahari Copperbelt and encourages us that multiple mineralised areas may exist
that can contribute to a larger and longer life Boseto Copper Project.
Boseto Zone - South West Mango Prospect Drilling Programme
Results for 11 drill holes located at the south-western end of the Mango
Prospect have been received covering a strike length of approximately 10
kilometres (Figure 3).
The most southerly drill hole MGDD1387, returned a higher grade intercept
comprising 4.4 m @ 3.2% Cu and 561 g/t Ag from 53.0 m to 57.4 m (Figure 4).
Approximately 10 kilometres to the north east, drill hole MGRC1677 intersected
6.0m @ 1.0% Cu and 153 g/t Ag. The remaining drill holes are spaced
approximately 1.6 kilometers apart along this 10 kilometres of strike length.
The portion of South West Mango reported here is approximately 36 kilometres
south-west of the north-eastern end of the Mango Prospect, where Discovery
Metals announced mineralisation over a one kilometre strike length on 27
September 2011 (Figure 5).
All higher grade intercepts will require further follow up infill drilling given
the broad spacing of these initial drill holes and all higher grade zones
currently remain open along strike and down dip.
Further, aeromagnetic data has been obtained over the trend, with a number of
anomalies identified that potentially relate to higher grade zones of
mineralisation, which the Company intends to investigated with further drilling.
The Company intends to drill test the entire 36 kilometres of prospective strike
length at Mango over the next six months, with the intention of identifying
areas of copper silver mineralisation that may support either open pit or
underground mining or both.
The drilling programme along the Mango Prospect continues and further results
are anticipated within the first quarter of 2012.
Table 1: SW Mango Prospect drilling results.
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | | | | | | Geochemical |
| | | Northing/ | | Total | Min. | |Results over |
| HoleID |Section| | Dip/Azi | Depth | From |Min. To| down hole |
| | |Easting (m) | | (m) | (m) | (m) | thickness |
| | |WGS84 SUTM34| | | | |(0.3% Cu cut-|
| | | | | | | | off) |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | | | |53.0 |57.4 |4.4 m @ 3.2% |
| | | | | | | |Cu & 561 g/t |
| | | | | | | |Ag |
| | | 7693112 | | | | | |
|MGDD1387|16800N | |-60 to 320| 65.9 | | |including |
| | | 701384 | | | | | |
| | | | | |54.0 |57.4 |3.4 m @ 4.0% |
| | | | | | | |Cu & 723 g/t |
| | | | | | | |Ag |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | 7693399 | | | | |No |
|MGDD1389|17300N | |-60 to 315| 71.7 |48.0 |71.0 |significant |
| | | 701792 | | | | |intercepts |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | | | |87.0 |88.0 |1.0 m @ 0.4% |
| | | | | | | |Cu & 30 g/t |
| | | | | | | |Ag |
| | | | | +------+-------+-------------+
| | | | | |94.6 |97.4 |2.8 m @ 0.9% |
| | | 7693073 | | | | |Cu & 179 g/t |
|MGDD1392|16800N | |-60 to 320| 113.8 | | |Ag |
| | | 701409 | | | | | |
| | | | | | | |including |
| | | | | | | | |
| | | | | |96.1 |97.4 |1.3 m @ 1.8% |
| | | | | | | |Cu & 317 g/t |
| | | | | | | |Ag |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | 7694059 | | |89.0 |132.0 |No |
|MGDD1667|18300N | |-60 to 320| 134.9 | | |significant |
| | | 702567 | | | | |intercepts |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | | | |49.0 |53.0 |4.0 m @ 1.8% |
| | | | | | | |Cu @ 144 g/t |
| | | | | | | |Ag |
| | | 7693112 | -60 to | | | | |
|MGRC1368|16800N | | 319.5 | 60.0 | | |including |
| | | 701381 | | | | | |
| | | | | |50.0 |53.0 |3.0 m @ 2.2% |
| | | | | | | |Cu & 183 g/t |
| | | | | | | |Ag |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | 7694061 | -60 to | | | |No |
|MGRC1373|18300N | | 314.5 | 160.0 |18.0 |160.0 |significant |
| | | 702569 | | | | |intercepts |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | 7694087 | -60 to | | | |No |
|MGRC1374|18300N | | 314.5 | 61.0 |4.0 |61.0 |significant |
| | | 702538 | | | | |intercepts |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | 7695217 | -60 to | | | |2.0 m @ 0.6% |
|MGRC1386|20000N | | 314.5 | 90.0 |77.0 |79.0 |Cu & 32 g/t |
| | | 703779 | | | | |Ag |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | | | |59.0 |62.0 |3.0 m @ 1.3% |
| | | | | | | |Cu & 65 g/t |
| | | | | | | |Ag |
| | | 7696289 | | | | | |
|MGRC1390|21550N | |-60 to 320| 85.0 | | |including |
| | | 704943 | | | | | |
| | | | | |60.0 |62.0 |2.0 m @ 1.7% |
| | | | | | | |Cu & 91 g/t |
| | | | | | | |Ag |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | 7698629 | -60 to | | | |1.0 m @ 0.5% |
|MGRC1671|24950N | | 319.5 | 76.0 |60.0 |61.0 |Cu & 22 g/t |
| | | 707374 | | | | |Ag |
+--------+-------+------------+----------+--------+------+-------+-------------+
| | | | | |87.0 |93.0 |6.0 m @ 1.0% |
| | | | | | | |Cu & 153 g/t |
| | | | | | | |Ag |
| | | | | | | | |
| | | | | | | |Including |
| | | 7699737 | -60 to | | | | |
|MGRC1677|26500N | | 319.5 | 106.0 |88.0 |90.0 |2.0 m @ 1.8% |
| | | 708507 | | | | |Cu & 312 g/t |
| | | | | | | |Ag |
| | | | | +------+-------+-------------+
| | | | | |97.0 |99.0 |2.0 m @ 0.5% |
| | | | | | | |Cu & 71 g/t |
| | | | | | | |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: +617 3218 0222
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
Attachment: Mango Prospect defined over 36 kilometres of strike length:
http://hugin.info/137928/R/1568893/487623.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#1568893]
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