Wednesday, May 25, 2022

Discovery Metals excited about drilling results from Plutus, Selene

Discovery Metals Limited said assay results from drilling programmes at Plutus and Selene have the potential for additional underground resource and open pit mine, respectively.

In a latest update, the Botswana Stock Exchange (BSE)/ ASX/AIM listed copper exploration outfit revealed that the drilling conducted within the Boseto Zone of its Kalahari Copper Belt Prospecting Licences in north?western Botswana has the potential to extend the life of Boseto.

Managing Director of the company, Brad Sampson, this week praised the findings, especially as it comes when Boseto is in target for commissioning early next year.

“These results suggest we now have potential to develop additional underground mineral resources at Plutus that could contribute to increased operational flexibility, and an increased scale and/or life at the Boseto Copper Project,” Sampson said.

“Selene represents potential for open pit mining that could, increase the mineral resource base for the nearby Boseto Copper Project, increase operation flexibility, increase mine life or contribute to increased scale of operations,” he added.

The Plutus deposit forms part of the 100 percent owned Boseto Copper Project, which is currently being constructed and is scheduled to commence production in early 2012 while the Selene Prospect is located at the northÔÇôeastern extremity of the Boseto Zone and is within 20 km of the Boseto Copper Project.

Discovery said at Plutus, the assay results reported represent the final 8 holes of an 11 hole deep drilling programme designed to test for underground potential along a strike length of approximately 7 kilometres.

The assay results of the first 3 holes were reported in early June 2011 and as reported previously all 11 holes intersected copper silver mineralisation at depths of approximately 350 metres below surface.

The company recently completed drilling an additional 3 diamond drill holes at Plutus and the geological logging confirms that all 3 holes intersected copper silver mineralisation at depths of approximately 250 metres below surface.

These 3 holes were drilled as “infill” holes along a strike length of approximately 1,200 metres in an area, based on recent drilling results, providing potential for underground mineral resources at Plutus. Assay results for these 3 holes are expected to be available in August 2011.

“Assessment of the potential for underground mining at Plutus is planned to follow completion late in 2011 of the definitive feasibility study for underground mining at the nearby Zeta Deposit,” the company said.

However, it said a complete assessment of the potential for underground mineral resources at Plutus will require additional drilling.

“Successful delineation of economic underground mineral resources at Plutus may provide additional mining opportunities to those considered in the Boseto Development Plan and thus contribute to increasing both the scale and/or life of operations at Boseto.”

On the other hand, Selene which is located at the north?eastern extremity of the Boseto Zone is a historic prospect with drill hole results (pre Discovery Metals) indicating economic mineralisation may be present over portions of 7 kilometres of strike length.

Discovery said A 42 hole drilling programme has now been completed as an initial test of this strike length for economic potential.

Diamond drill holes have been completed at a spacing of between 400 and 1,200 metres along strike and reverse circulation drill holes infill on spacing of approximately 400 metres along strike.

All drill holes have intersected copper?silver mineralisation between 25 and 200 metres below surface and full results are shown in Table 2, with a selection of results shown in plan in Figure 6 and in cross section in Figures 7 and 8.

Sand cover at Selene ranges between 10 and 25 metres thick and the style of copper
mineralisation is similar to that at the Zeta Deposit.

“The mineralisation at Selene may offer potential for economic open pit mining. Initial internal assessment of the potential for Selene to provide feed to the Boseto concentrator will be undertaken late in 2011 and before any further drilling is undertaken at this Prospect.”

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