Discovery Metals Limited Discovery Metals Limited: New Strategic Kalahari Copperbelt Prospecting Licences
February 19 2012 - 6:46PM
UK Regulatory
TIDMDME
AIM ANNOUNCEMENT
Discovery Metals Limited
New Strategic Kalahari Copperbelt Prospecting Licences
Highlights:
· Four new strategically located prospecting licences in the Kalahari
Copperbelt have been granted to Discovery Metals.
· New licences estimated to contain at least 250 km of the prospective
horizon that is host to the copper deposits at Boseto.
· Historical soil geochemical data shows a 10 km long zone of anomalous
copper of similar tenor as that at the Boseto Copper Project's Zeta Deposit.
· Kalahari Copperbelt landholding is now 11,872 km(2) containing 1,500
strike kilometres of the prospective horizon.
Discovery Metals Limited ('Discovery Metals' or 'Company') reports that it has
been granted four new Prospecting Licences (PLs) in the Kalahari Copperbelt of
North West Botswana (Figure 1). These PLs, which cover "all metals", are
situated within the vicinity of the D'Kar and Ghanzi communities and will be
referred to by the Company as the D'Kar Prospecting Licences.
Discovery Metals Managing Director, Brad Sampson, stated "Historical soil
geochemical sampling identified a zone of anomalous copper more than
10 kilometres long located on the same prospective horizon that hosts the
copper-silver mineralisation discovered to date in the Kalahari Copperbelt.
This anomalous zone sits within one of the four new contiguous PLs granted to
Discovery Metals and provides an immediate exploration target in addition to the
rest of the 250 kilometres of prospective horizon contained within these four
PLs that remain largely unexplored."
The D'kar PLs increase the Company's total landholding in the Kalahari
Copperbelt to 11,872 square kilometres, containing in excess of
1,500 kilometres of strike length of the prospective horizon (Figure 2). The
prospective horizon is located at the contact of the Ngwako Pan Formation and
the D'kar Formation and is host to most of the known copper resources in the
Kalahari Copperbelt in Botswana. In the early 2000s, Delta Gold Ltd completed a
campaign of regional conventional soil geochemistry at approximately five
kilometres spaced lines over portions of the Kalahari Copperbelt. This work
successfully identified copper in soil anomalism over the Zeta and the Banana
Zone (Hana Mining) deposits. This same phase of work also identified a copper
in soil anomaly extending over 10 kilometres along the prospective horizon
within the recently granted D'kar PLs. One portion of this zone of anomalous
copper is approximately 400 metres wide with nine sample points all exceeding
100ppm copper (Figure 3).
This zone of anomalous copper is located approximately 10 kilometres off the
main Trans Kalahari Highway which links Botswana with the major port of Walvis
Bay in neighboring Namibia to the west.
Exploration work already completed by Discovery Metals indicates that sand cover
across the majority of the D'Kar PLs is less than 25 metres and therefore
standard soil geochemical methods are expected to be appropriate for the first
phase of exploration.
The Company's regional exploration programme in the Kalahari Copperbelt
continues with a goal to discover new zones of copper-silver mineralisation that
will form the basis for a new standalone mine in the region. Exploration
activity is anticipated to progress into the D'Kar PLs in the latter part of
2012.
Competent Persons Statement
The information in this report that relates to Exploration Results is based on
information compiled by Mr Fred Nhiwatiwa who is a Member of the Australasian
Institute of Mining and Metallurgy (MAusIMM). Mr Nhiwatiwa is a full-time
employee of Discovery Metals Limited. Mr Nhiwatiwa has sufficient experience
which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC
Code).
Mr Nhiwatiwa consents to the inclusion in this report of the matters based on
information provided by him and in the form and context in which it appears.
Discovery Metals Background
Discovery Metals is an ASX/AIM/BSE listed copper exploration and development
company focused on the emerging Kalahari Copperbelt in northwest Botswana. The
Company is a near-term copper producer currently developing its 100% owned
Boseto Copper Project towards production in the first half of 2012.
The Kalahari Copperbelt sediment-hosted mineralisation of the Boseto Copper
Project is similar in style to the well-known and large deposits of the Central
African Copperbelt of Zambia and the Democratic Republic of the Congo.
Discovery Metals now has prospecting licences covering 11,872 km(2) along the
Kalahari Copperbelt.
Further information on the Company including Mineral Resources and Ore Reserves
is available on our website: www.discoverymetals.com
Forward looking statements
This release includes certain statements that may be deemed "forward-looking
statements". All statements in this discussion, other than statements of
historical facts, that address future activities and events or developments that
Discovery Metals expects, are forward-looking statements. Although Discovery
Metals believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from
those in the forward-looking statements. Factors that could cause actual
results to differ materially from those in forward-looking statements include
market prices, continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and that actual results or
developments may differ materially from those projected in forward-looking
statements.
For further information on this release and Discovery Metals Limited, please
contact:
Brad Sampson Managing Director
Ph: +61 7 3218 0222 brad@discoverymetals.com
AIM Nominated Advisor - Fairfax I.S. PLC, Contact Ewan Leggat/Laura Littley
Ph: +44 20 7460 4389 or 7460 4387
UK PR - Tavistock PR, Contact Jos Simson/Emily Fenton
Ph +44 207 920 3150 or +44 778 855 4035
Attachment: New Strategic Kalahari Copperbelt Prospecting Licences:
http://hugin.info/137928/R/1587284/497884.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Discovery Metals Limited via Thomson Reuters ONE
[HUG#1587284]
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