Monday, April 27, 2009

Boseto project update

The Sydney Morning Herald recently reported an update for the Boseto mining project near Lake Ngami. Discovery Metals Limited has announced "a significant upgrade to the mineral resource contained at its Petra Prospect, further improving the economics of the Company's 100% owned Boseto Copper Project". According to the report, the new mineral resource includes the Petra Prospect drilling results as released to the market since April 2007, when the last Petra Prospect Mineral Resource was announced. The Petra Prospect currently hosts the smallest of the three mineral resources making up the Boseto Copper Project, and now extends to the Plutus Prospect to create one continuous deposit extending for more than 10 kilometres of strike length. Mineralisation remains open at depth and to the south west of Petra for a further 13 kilometres based on drilling, soil geochemical anomalism, trenching and mapping. The company says that estimation and reporting of silver contained in Petra for the first time is expected to result in improved project economics compared to the prefeasibility base case outcomes.

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