Discovery increases Zeta Resource
THE DRILL SERGEANT: Discovery Metals has upgraded the Mineral Resources at its Zeta deposit by nine million tonnes to 44.1 million tonnes, an increase of 25 per cent.
The Zeta deposit, combined with the Plutus and Petra deposits, form the Mineral Resources base for Discovery’s 100% owned Boseto copper project, located in north western Botswana.
“This upgrade of the Zeta Mineral Resources is another important step towards the completion of the Definitive Feasibility Study for development of an underground mine at Zeta and further increases confidence in the
Mineral Resources planned for open pit mining, which is expected to commence later this year,” Discovery Metals managing director Brad Simpson said in the company’s announcement to the Australian Securities Exchange.
The Zeta Mineral Resources update was calculated using the results from 54 infill drill holes and three holes drilled by the company in 2009, which intersected mineralisation at depths of approximately 600m below surface.
The Zeta Mineral Resources now comprise:
Measured Mineral Resources of 4.6 million tonnes at 1.6 per cent copper and 23.5 grams per tonne silver;
Indicated Mineral Resources of 12.4Mt at 1.5% copper and 26.1g/t silver; and
Inferred Mineral Resources of 27.1Mt at 1.2% copper and 20.0g/t silver; for
TOTAL MINERAL RESOURCES of 44.1Mt at 1.3% copper and 22.1g/t silver.
All Mineral Resources are reported at a cut-off grade of 0.6% copper.
According to Discovery Metals the Measured and Indicated Mineral Resources at Zeta have now increased by 56%.
The areas classified as Measured and Indicated, now extend down dip from what the company has previously reported, and now extend below the base of its currently planned open-pit and into the area the company has earmarked for underground mining operations.
“The previous Zeta underground Inferred Mineral Resources reported in conjunction with the underground scoping study results in March 2010 were 25 million tonnes at 1.4 per cent copper and 23.1 grams per tonne silver at a 0.6 per cent copper cut-off grade,” Discovery Metals said.
“This upgrade of the Zeta Mineral Resources has resulted in categorization of Measured and Indicated underground mineral resources of 12.0 million tonnes at 1.5 per cent copper and 26.9 grams per tonne silver and increased the total underground mineral resources to 31.0 million tonnes at 1.4 per cent copper and 25.3 grams per tonne silver at a 0.6 per cent copper cut-off grade.”
Discovery is now using the results of Zeta Mineral Resources re-estimation to progress the Definitive Feasibility Study for the development of an underground mine at Zeta.
This study is now planned for completion late in December 2011.
The company has no additional drilling planned at depth in the Zeta deposit for the remainder of the year.
Further drilling is anticipated upon completion of the Definitive Feasibility Study and development of detailed mine plans.