Discovery Metals has announced a further 46% increase in the total Inferred resource within the company’s 100% owned Maun project in northwest Botswana. The latest increase follows the definition of an Inferred mineral resource of 14.5Mt at 1.3% Cu and 12.6 g/t Ag, at a cutoff of 0.6% Cu, at the Plutus prospect within the Maun project. It means that during 2007, the total Inferred mineral resources for Maun have now been increased by 130% (from an initial 20 Mt at 1.2% Cu).
Discovery Metals’ Managing Director, Jeremy Read, said that ongoing drilling on the Maun project was proving to be very successful with three Inferred mineral resources defined from five prospects drilled during 2007. “Drilling is yielding a high conversion rate of prospects drilled to Inferred status, which is highly encouraging. Plutus is a shallow deposit and we would expect that a significant portion of the identified resource could be mined in an open pit. The Zeta prospect prefeasibility study is now well underway, our regional exploration program is being ramped up and with the significant growth in our resource base we are looking forward to an exciting 2008.”
The prefeasibility study of the Maun project is well advanced and the initial results from this study will be announced early in 2008.