Discovery Metals
Discovery Metals combines a portfolio of mineral assets in Africa and joint ventures in Australia. Discovery Metals is focused on developing the Boseto Copper Project (100% owned) in north west Botswana and to create shareholder wealth through discovery and development of economic mineral deposits. The Company’s major asset and current focus is its Boseto Copper Project (100%) in north west Botswana. The company also controls the Dikoloti Nickel Project (85%) in north east Botswana. There are two smaller Australian projects which are joint ventured with the JV partners potentially earning into 51 percent equity.
The Company commenced a pre-feasibility study on the Boseto Copper Project in north west Botswana in August 2007 and announced the outcomes of the study in July, 2008. A Bankable Feasibility Study is currently being undertaken and is planned for completion mid 2009, with first copper production currently targeted for early 2011.
Discovery Metals has sufficient water for Boseto Copper Project
Groundwater resources for Discovery Metals' (ASX/BSE: DML; AIM: DME) Boseto Copper Project have been defined.
Importantly, ground water resources will be more than sufficient to meet the processing and other operational needs of its 100% owned Boseto Copper Project.
In fact, water availability significantly exceeds the requirements of currently planned operations with more than four times the project requirement available over a 15 year period.
Discovery Metals’ Managing Director, Brad Sampson said this is an important milestone for the Boseto Copper Project. A water resource has been identified with capacity to more than meet the project’s operational requirements, thus eliminating a key project risk. "We have now demonstrated that neither the life nor scale of the project is likely to be constrained by water supply.”
After an extensive program which included the drilling of eleven water exploration boreholes, the water resources planned for use at Boseto are contained within two of the five potential groundwater resource areas identified during the water exploration program.
These were undertaken as part of the Bankable Feasibility Study on the Boseto Copper Project. Borefields which will tap these resources and will be situated within 15 km of the proposed plant site.
Water quality is suitable for use in the Boseto process plant. Identified water resources support consideration of mine life extension and/or expansion of production beyond the currently planned 10 year x 2Mtpa base case for Boseto.
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Other Discovery Metals articles
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28/01/10 Discovery Metals continuing progress on Boseto copper project
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19/10/09 Discovery Metals ups Zeta resource by 40% to 35.4 million tonnes @ 1.4 per cent copper
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10/08/09 Discovery Metals ticks another box at Boseto copper project
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21/05/09 Discovery Metals continues to report consistent copper-silver assays at Boseto Copper Project
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20/04/09 Discovery Metals more than doubles resource at Petra Copper Prospect
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04/03/09 Plutus drilling results boosts economics of Discovery Metals' Boseto Copper Project
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27/01/09 Discovery Metals hits high grade copper zones at Zeta Prospect, Botswana
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23/07/08 Discovery Metals rises on pre-feasibility results for Boseto Copper Project in Botswana
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20/05/08 Is the copper outlook bullish?
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20/05/08 robust long term fundamentals for copper?
Other Discovery Metals news
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15/03/10 Blackswan retains 'buy' stance on Discovery Metals after Boseto copper project exploration results
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12/03/10 Discovery Metals latest drilling results bullish for Boseto Copper Project
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10/03/10 Discovery Metals H1 results show ongoing progress as it moves towards mine development
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09/03/10 Discovery Metals inks offtake for Boseto Copper Project and raises A$19m
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09/03/10 Discovery Metals inks offtake for Boseto Copper Project and raises A$19m
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08/03/10 Libertas and Westhouse Securities bullish on Discovery Metals ahead of Boseto copper project BFS
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05/03/10 Versant Partners issues Discovery Metals ‘buy’ recommendation, targets A$0.85 per share
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02/03/10 Discovery Metals tipped by Shares magazine
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12/02/10 Fairfax values Discovery Metals at 44p, sees 'major upside' in Boseto copper project
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03/02/10 Blackswan Equities ups Discovery Metals valuation, maintains 90 pence target and 'buy' rating