25 May 2012

More copper cheer for Discovery

21/07/2011 Robert Tyerman

Discovery Metals (DME) says assays from its Ophion prospect in Botswana confirm significant copper and silver mineralisation. The Brisbane-based company cites intercepts including 15 metres with 0.6 per cent copper and six grammes of silver per tonne of ore, three metres with 2.1 per cent copper, and 20 grammes of silver a tonne, and six metres with 1.2 per cent copper and 12 grammes of silver a tonne.

Ophion is in AIM-quoted Discovery's prospecting licences in north west Botswana's Kalahari copperbelt and is within 40 km of its flagship Boseto copper project, where the company plans to start production next year at an annual rate of 36,000 tonnes of copper and more than one million oz of silver for 15 years. Growth Company Investor recommended Discovery at 15.5p in 2009 and more recently suggested partial profit taking at 83.35p.

Now 85.5p, valuing the company at £74 million, the remaining shares are worth holding for now.

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Tags: AIM market, Botswana, Copper and gold, Kalahari copperbelt, Ophion

Sector: Mining

Companies: Discovery Metals

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