Companies: DME   

Discovery Metals says it has extended its Plutus copper project in Botswana by 1,000 metres and found high grades.

Brisbane-based Discovery, set up five years ago to develop copper and nickel projects in northern Botswana, says the Plutus strike length is now 8,500 metres. Recent drilling has shown some encouraging intersections, including 4.6 metres at 2.52 per cent copper and 52.1 grammes of silver per tonne of ore and six metres at 2.2 per cent copper and 28.3 grammes a tonne of silver.

Managing director Brad Sampson says these drilling results ‘reinforce the prospects of Plutus and the possibility of significant increases in mineral resources’ at the project, where a current inferred resource of 14.5 million tonnes of ore, with 1.3 per cent copper and 13 grammes a tonne of silver, are claimed. The company says a pre-feasibility study on the project is ‘on track for completion’ this month.

Discovery shares, which rose from 13p in 2007 to 30.5p last March, now stand at 21p, valuing the company at £27.3 million. The appeal is speculative.  

Growth Company Investor subscribers have full access to all our AIM and small-cap share recommendations. To subscribe today with a half-price offer, and gain immediate access to all the recommendations, click here.

Discovery Metals (CDI)	AIM	£10.51m	7.00p	-0.25p
Click here for interactive charting
Other company articles:
Botswana cheer for Discovery Metals			14/07/2008
Drilling cheer at Discovery			28/02/2008
Newcomer - Discovery Metals			29/06/2007