DISCOVERY METALS LIMITED 
By
AIM Release
27 January 2009
Latest Zeta Infill Drilling Confirms Higher Grade Open Pit Copper
Zone
Highlights
* A further 28 infill diamond drill holes within the
existing Zeta Mineral Resource envelope confirms the presence
internally of a higher grade mineralised zone
(>2% Cu), in addition to a smaller pod located in the hanging wall
(>0.6%)
* Significant drill results include:
§ Hole GDDD570 12.3 metres @ 1.6 % Cu & 36.5 g/t Ag,
including
5.0 metres @ 2.7 % Cu &
58.6 g/t Ag
§ Hole GDDD559 8.0 metres @ 1.5 % Cu & 33.8 g/t Ag,
including
4.0 metres @ 2.1 % Cu & 46.3 g/t Ag
§ Hole GDDD552 10.0 metres @ 1.8 % Cu & 35.5 g/t Ag
§ Hole GDDD553 13.0 metres @ 1.4 % Cu & 30.5 g/t Ag
§ Hole GDDD546 11.1 metres @ 1.4 % Cu & 31.6 g/t Ag
§ Hole GDDD 526 22.0 metres @ 1.3 % Cu & 16.4 g/t Ag,
including
8.0 metres @ 2.0 % Cu & 34.4 g/t Ag
§ Hole GDDD541 17.0 metres @ 1.5 % Cu & 20.3 g/t Ag,
including
3.0 metres @ 3.9 % Cu & 51.3 g/t Ag
* Increased definition of higher grade and thicker zones of
potentially open pit mineralisation
* Zeta infill drilling programme reinforces the continuity
of mineralisation and presence of higher grade zones at the Boseto
Copper project
Zeta Drill Results
Discovery Metals Limited (ASX/BSE: "DML") (AIM: "DME") announces the
assay results of the latest twenty eight infill drill holes at the
Zeta Prospect. The intersected mineralisation contains a number of
intercepts with mineralised widths and grades exceeding the averages
of the current Zeta Mineral Resource.
All holes were drilled within the Zeta Prospect at the Company's
100%-owned Boseto Copper Project located in north west Botswana
(Figure 1).
The Zeta Prospect currently contains a Mineral Resource of 25.2Mt @
1.5% Cu and 20.1 g/t Ag at a cut off grade of 0.6% Cu (Figure 2) and
comprises:
Zeta Indicated Mineral Resource of 3.9Mt @ 1.7% Cu and 26.1 g/t Ag,
and
Zeta Inferred Mineral Resource of 21.3Mt @ 1.4% Cu and
19.1 g/t Ag
The recently upgraded total mineral resource for the Boseto Copper
Project, reported in accordance with The Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves
(The JORC Code, "2004 Edition") is:
45.6Mt @ 1.5% Cu and 18.7g/t Ag at a cut off grade of 0.6% Cu with
contained metal of approximately 684,000 tonnes copper and 27 million
ounces silver
The Zeta infill drilling programme forms part of the Boseto Bankable
Feasibility Study and reinforces the continuity of mineralisation and
presence of high grade zones at the Boseto Copper project.
As with all other deposits at the Boseto Copper project, the Zeta
mineral resource remains open at depth.
Details of the results for all twenty eight holes are reported in
Table 1 and a selection of results is displayed in plan in Figure 3
and in section in Figures 4, 5 and 6.
Implications for Boseto Project
The ongoing Zeta infill drilling programme has facilitated definition
of the higher grade zones existing within the Zeta Prospect which has
improved the quality of resource modelling.
Confirmation of higher grade zones at the Zeta Prospect is important
as it represents a potential opportunity for early stage mining of
copper grades in excess of the average grade of the resource.
Discovery Metals Limited ("Discovery" or "Company") has now defined
a number of these higher grade zones at both the Zeta and Plutus
Prospects which could become high-grade starter pits, with the
potential to reduce cash operating costs in the early years of
production and enhance project cash flows and economics.
Discovery expects to announce a more comprehensive update on project
development schedules and economics later in the March Quarter 2009.
The Company's Managing Director, Brad Sampson stated, "All of the 28
new drill holes contribute to our understanding of the location and
extent of the high grade core of mineralisation with grades exceeding
2% Cu within the Zeta Prospect. "
" As the Bankable Feasibility Study on the Boseto Project progresses,
these high grade zones take on increased importance as focus points
for mining and present an opportunity to schedule concentrator feed
well in excess of the overall average grade of the resource in the
early years of the operation", he added.
Boseto Project background
Discovery's Boseto Copper Project (100% owned) is located in north
west Botswana, within the district of Ngamiland, approximately 80km
south-west of the town of Maun. A seven tenement package was granted
to Discovery in September 2005 and fieldwork on this tenement package
commenced late in October 2005. The Government of Botswana approved
the Company's re-application for these tenements in September 2008
and all prospective areas were retained by the Company. The outer
limit of the exploration licence area starts approximately 60km south
west of Maun and stretches in a south westerly direction for
approximately 200km towards the town of Ghanzi. In June 2008,
Discovery was granted an additional seven tenements extending from
the south west boundary of the original 2005 granted tenements
through to the Namibian border, adding 5,700km2 to the area held
under prospecting licenses to bring the total current tenement area
to 10,100 km2.
The Boseto Copper Project is located within a belt of significant
copper-silver mineralisation that extends from the well known and
more highly developed Zambian Copper Belt across north-west Botswana
and into Namibia. The poorly explored and undeveloped portion of
this belt in north-west Botswana is known as the Kalahari Copper
Belt.
Copper occurs predominantly in chalcocite, with minor amounts of
bornite and other copper sulphides present. At shallow depths,
malachite and chrysocolla exist in significant proportions within
some areas of the mineral resource.
A Pre Feasibility Study for the Boseto Copper Project was completed
on time and on budget in July 2008. Discovery is currently
undertaking a Bankable Feasibility Study for the Boseto Copper
Project.
Further information on the Company is available on its website:
www.discoverymetals.com.au
Competent Persons Report
The information in this report as it relates to the Zeta, Plutus and
Petra Mineral Resources for the Boseto Copper project was compiled by
Mr Jason Hosken and reviewed by David Arnott, both Members of The
Australasian Institute of Mining and Metallurgy. Mr Hosken and Mr
Arnott are full time employees of Snowden Mining Industry
Consultants. Mr Arnott 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". 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. Mr
Nhiwatiwa is a full-time employee of the Company. 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". Mr
Arnott and Mr Nhiwatiwa consent to the inclusion in the report of the
matters based on information provided by them and in the form and
context in which it appears.
For further information contact:
Discovery Metals Limited
Brad Sampson
Managing Director
Tel: +617 3218 0200
Fairfax I.S. PLC
Ewan Leggat / Laura Littley
Tel: +44 (0)20 7598 5368
Conduit PR
Jos Simson/Fiona Hyland
Tel: +44 (0) 20 7429 6603
Mobile: +44 (0)7899 870 450
TABLE 1 - Zeta infill drilling results
Geochemical
Results
Northing Easting Total Min. Min. over down
Hole Prospect (m) WGS84 (m) WGS84 Section Dip/Azi Depth From To hole
SUTM34 SUTM34 (m) (m) (m) thickness
(0.3% Cu
cut-off)
2.0 m @ 1.0
88 90 % Cu & 8.0
-60° to g/t Ag
GDDD579 Zeta 7718045.0 707154.6 37250N 140° 110.4 2.0 m @ 1.1
100 102 % Cu &
19.5 g/t
Ag
-60° to 1.4 m @ 1.4
GDDD571 Zeta 7718631.0 707773.3 38100N 140° 47.0 35 36.4 % Cu & 6.0
g/t Ag
7.0 m @ 1.6
124 131 %Cu & 23.3
-60° to g/t Ag
GDDD566 Zeta 7718818.0 707862.3 38300N 140° 137.2 including
3.0 m @ 2.5
126 129 %Cu & 47.7
g/t Ag
13.4 m @
33 46.4 0.7 %Cu &
-60° to 5.4 g/t Ag
GDDD569 Zeta 7718776.0 707907.4 38300N 140° 50.7 including
4.0 m @ 1.2
40 44 %Cu & 12
g/t Ag
12.3 m @
82 94.3 1.6 %Cu &
-60° to 36.5 g/t Ag
GDDD570 Zeta 7718797.0 707886.5 38300N 140° 99.9 including
5.0 m @ 2.7
87 92 %Cu & 58.6
g/t Ag
6.0 m @ 1.0
59 65 %Cu & 12.8
-60° to g/t Ag
GDDD561 Zeta 7718892.0 707997.7 38450N 140° 73.7 including
2.0 m @ 1.7
61 63 %Cu & 32.5
g/t Ag
6.0 m @ 0.9
108 114 %Cu & 13
g/t Ag
GDDD567 Zeta 7718912.0 707975.7 38450N -60° to 156.0 including
140° 2.0 m @ 1.5
111 113 %Cu & 32.5
g/t Ag
6.0 m @ 1.4
126 132 % Cu & 32.8
-60° to g/t Ag
GDDD563 Zeta 7719029.0 708072.0 38600N 140° 146.8 including
2.0 m @ 2.6
127 129 % Cu & 61.0
g/t Ag
12.0 m @
18 30 1.0 %Cu &
-60° to 5.5 g/t Ag
GDDD557 Zeta 7719022.0 708148.8 38650N 140° 74.1 including
2.0 m @ 2.5
23 25 %Cu & 8 g/t
Ag
8.0 m @ 1.5
77 85 %Cu & 33.8
g/t Ag
GDDD559 Zeta 7719043.0 708128.3 38650N -60° to 101.4 including
140° 4.0 m @ 2.1
78 82 %Cu & 46.3
g/t Ag
6.0 m @ 1.5
114 120 %Cu & 32.2
-60° to g/t Ag
GDDD568 Zeta 7719062.0 708109.4 38650N 140° 131.2 including
3.0 m @ 2.0
114 117 %Cu & 44.3
g/t Ag
17.0 m @
69 86 1.0 %Cu &
17.2 g/t Ag
including
2.0 m @ 2.4
GDDD551 Zeta 7719115.0 708201.7 38750N -60° to 94.0 75 77 %Cu & 24
140° g/t Ag
and
3.0 m @ 2.5
82 85 %Cu & 50.3
g/t Ag
2.0 m @ 0.4
116 118 %Cu & 1 g/t
Ag
10.0 m @
126 136 1.8 %Cu &
35.5 g/t Ag
-60° to including
GDDD552 Zeta 7719139.0 708175.6 38750N 140° 142.2 3.0 m @ 2.0
127 130 %Cu & 37
g/t Ag
and
4.0 m @ 2.5
132 136 %Cu & 51.3
g/t Ag
18.0 m @
35 53 1.0 % Cu &
17.1 g/t Ag
including
2.0 m @ 2.1
GDDD555 Zeta 7719099.0 708217.6 38750N -60° to 62.3 43 45 % Cu & 30.0
140° g/t Ag
and
2.0 m @ 2.7
50 52 % Cu & 29.5
g/t Ag
11.1 m @
83.3 94.3 1.4 %Cu &
-60° to 31.6 g/t Ag
GDDD546 Zeta 7719153.0 708230.1 38800N 140° 106.4 Including
4.3 m @ 2.1
90 94.3 %Cu & 51.1
g/t Ag
8.0 m @ 1.4
136 144 %Cu & 25.6
-60° to g/t Ag
GDDD549 Zeta 7719179.0 708204.6 38800N 140° 151.8 Including
3.0 m @ 1.9
141 144 %Cu & 41.7
g/t Ag
13.0 m @
47 60 1.4 %Cu &
30.5 g/t Ag
Including
-60° to 2.0 m @ 2.1
GDDD553 Zeta 7719135.0 708245.6 38800N 140° 68.3 49 51 %Cu & 29
g/t Ag
And
5.0 m @ 2.2
55 60 %Cu & 53.6
g/t Ag
14.0 m @
116 130 0.7 %Cu &
-60° to 9.1 g/t Ag
GDDD550 Zeta 7719281.0 708307.9 38950N 140° 143.4 Including
2.0 m @ 1.6
124 126 %Cu & 5 g/t
Ag
1.0 m @ 0.8
111 112 % Cu& 6.0
g/t Ag
1.0 m @ 0.3
115 116 % Cu & 19.0
g/t Ag
1.0 m @ 0.4
GDDD538 Zeta 7719420.0 708440.3 39150N -60° to 143.0 118 119 % Cu & 2.0
140° g/t Ag
7.6 m @ 2.0
124 131.6 % Cu & 36.1
g/t Ag
Including
4.6m @ 2.5
127 131.6 % Cu & 44.9
g/t Ag
1.0 m @ 1.2
64 65 % Cu& 26.0
g/t Ag
18.0 m @
GDDD533 Zeta 7719547.0 708597.6 39350N -60° to 100.0 69 87 1.1 % Cu &
140° 17.7 g/t Ag
Including
3.1 m @ 2.8
80 83.1 % Cu & 41.9
g/t Ag
17.0 m @
128 145 1.5 %Cu &
20.3 g/t Ag
Including
-60° to 3.0 m @ 3.9
GDDD541 Zeta 7719647.0 708632.1 39400N 140° 152.0 136 139 %Cu & 51.3
g/t Ag
And
2.0 m @ 2.3
142 144 %Cu & 41.5
g/t Ag
15.0 m @
31 46 1.2 % Cu &
-60° to 12.3 g/t Ag
GDDD528 Zeta 7719641.0 708718.5 39500N 140° 92.3 Including
5.0 m @ 2.1
38 43 % Cu & 29.0
g/t Ag
18.0 m @
74 92 1.2 % Cu &
-60° to 16.6 g/t Ag
GDDD532 Zeta 7719664.0 708699.0 39500N 140° 98.4 Including
5.0 m @ 1.9
81 86 % Cu & 27.6
g/t Ag
22.0 metres
34 56 @ 1.3 % Cu
& 16.4 g/t
-60° to Ag
GDDD526 Zeta 7719679.0 708754.3 39550N 140° 65.0 Including
8.0 metres@
42 50 2.0% Cu
&34.4 g/t
Ag
2.0 m @ 0.6
70 72 % Cu & 1.5
g/t Ag
15.7 m @
76 91.7 1.1 % Cu &
19.1 g/t Ag
GDDD527 Zeta 7719701.7 708734.053 39550N -60° to 100.26 Including
140° 4.0 m @ 2.3
83 87 % Cu & 40.0
g/t Ag
And
2.7 m @ 1.6
89 91.7 % Cu & 32.0
g/t Ag
17.7 m @
118 136 1.3 %Cu &
22.2 g/t Ag
Including
3.0 m @ 2.4
GDDD530 Zeta 7719723.0 708711.8 39550N -60° to 143.0 127 130 %Cu & 38
140° g/t Ag
And
2.7 m @ 2.6
133 136 %Cu & 47.1
g/t Ag
7.0 m @ 2.3
42 49 %Cu & 38.8
-60° to g/t Ag
GDDD523 Zeta 7719755.0 708822.5 39650N 140° 59.6 Including
2.0 m @ 4.8
42 44 %Cu & 80.5
g/t Ag
2.0 m @ 0.6
73 75 %Cu & 13.1
g/t Ag
19.5 m @
79 98.5 1.2 %Cu &
GDDD524 Zeta 7719777.0 708801.8 39650N -60° to 125.1 16.9 g/t Ag
140° 5.0 m @ 2.0
86 91 %Cu & 25.7
g/t Ag
2.0 m @ 2.3
95 97 %Cu & 36
g/t Ag
11.0 m @
62 73 1.5 %Cu &
-60° to 15.2 g/t Ag
GDRD501 Zeta 7720135.0 709154.7 40150N 140° 80.4 Including
5.0 m @ 2.5
65 70 %Cu & 27.7
g/t Ag
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