Discovery Metals (AIML: DML) a Botswana focused exploration company, release its interim financial report and review of operations for the half-year ending 31 December 2007.
The company continued work on the Maun Copper Project in northwest Botswana, and the Dikoloti Nickel Project in northeast Botswana. Losses for the half-year were $2,068,033
During the period DML had reported inferred mineral resources from three prospects on the,6,435 square kilometre, Maun Project, 27.1 million tonnes (MT) of 1.3% copper (cu) and 21 grams per tonne silver (Ag) at Zeta, 14.5Mt of 1.3% Cu and 13g/t Ag at Plutus, and 4.5Mt of 1.1% Cu at Petra.
Work is underway on a Pre-Feasibility study for a possible open pit operation at Zeta. Results from infill drilling at Zeta have exceeded the company’s expectations as they extended 2%, or higher, copper by more than two kilometres in strike.
Infill drilling is planned for the Plutus prospect as part of a Pre-Feasibility study aimed at drilling out the potentially open pittable section of the Plutus prospect.
At the Dikoloti Nickel project the company has earned an 85% interest in the project from XStrata, and an inferred mineral resource of 4.1Mt of 0.7% nickel, 0.5% cu and 1.2 g/t platinum group metals for 28,700 tonnes of nickel metal has been identified.
Discovery Metals reports progress at Zeta, Plutus & Dikoloti
Last updated: 00:54 13 Mar 2008 EDT, First published: 01:54 13 Mar 2008 EDT