Discovery Metals reports initial drill results
THE DRILL SERGEANT: Discovery Metals has reported first results from an 11 hole deep drilling program of the Plutus deposit at the company’s 100% owned Boseto copper project in Botswana.
The reported results stem from the first three holes of a deep drilling program that the company has designed in order to investigate the potential for underground mining at Plutus.
The drilling conducted so far has occurred beneath the area of the planned Plutus open pit mine, over approximately 1,500 metres of strike.
Assay results from the first three holes have been received with the best mineralised intercepts returning:
– 8.7 metres at 1.8% copper & 26.2 grams per tonne silver, including 4.6m at 2.3% copper, 31.9 g/t silver and 2.4m at 2.0% copper, 31.9 g/t silver; and
– 6.0m at 1.5% copper, 16.4 g/t silver.
The total program consists of 11 drill holes designed to intersect mineralisation to a depth of 350m along a strike length of approximately seven kilometres.
Previous drilling carried out at Plutus was focused on assessing open pit potential only.
As a result the deepest drill holes previously intersected mineralisation at a depth of approximately 175m below surface.
Geological logging confirms copper mineralisation has been intersected in all 11 drill holes.
Discovery Metals expects assay results for the remaining 8 drill holes to be available by the end of June.
The company is confident the results it has received so far confirm the mineralisation at the Plutus deposit extends to depths of at least
350m below surface along the seven kilometres of strike length tested.
High grade copper mineralisation was intersected over potentially mineable widths and this high grade mineralisation is open both along strike and at depth.
“These early results from Plutus are encouraging as they suggest that there is potential for underground mining at Plutus. Discovery Metals managing director Brad Sampson said in an announcement.
“We are already planning an infill drilling program in the vicinity of these three drill holes with a particular focus on following up the high grade copper intersections of plus two per cent copper.”
“These results accord with the company’s strategy of exploring near Boseto opportunities, both underground and open pit, to give the company the option of extending the processing plant life or expanding capacity in the near term or both.”
The Boseto project is currently under construction and is scheduled to commence production in early 2012.
Planned production from the project is expected to be approximately 36,000 tonnes of copper and more than 1 million ounces of silver per annum over an initial 15 year mine life.