25 May 2012

New mineralisation cheers Discovery Metals

13/07/2011 Robert Tyerman

Discovery Metals (DME) says its Plutus deposit in Botswana has shown high grade copper mineralisation, with encouraging drill results from its Selene deposit, too. At Plutus latest intercepts include 13.3 metres with 0.9 per cent copper and 10.1 grammes of silver per tonne of ore and 2.7 metres with 2.4 per cent copper and silver at 29.3 grammes a tonne, while Selene's intercepts include seven metres with 1.8 per cent copper and silver at 45.4 grammes a tonne and 5.2 metres with 2.2 per cent copper and silver at 10.2 grammes a tonne. 

Both deposits are parts of Australia-based and AIM-quoted Discovery's Boseto project, which is scheduled to start production early next year. Growth Company Investor recommended the shares at 15.5p two years ago and suggested partial profit taking at 83.25p last month.

They are now 79p. Hold on for the time being.

Tags: AIM market, Botswana, Copper, Silver

Sector: Mining

Companies: Discovery Metals

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