Boseto Copper Project

Discovery Metals is developing the 100% owned Boseto Copper Project within its large prospecting licence position in Botswana's highly prospective Kalahari Copperbelt.  The Bankable Feasibility Study on the Project was completed in August 2010.  First copper-silver concentrate was sold in June 2012.

The Bankable Feasibility Study (BFS) evaluated all aspects of the development of an open pit mine at Boseto that produces and processes into a concentrate, 3Mtpa copper-silver ore for 5 years.  Production is scheduled only from Measured or Indicated status mineral resources and the study is based on the use of diesel generated power supply.  The purpose of the BFS is to allow the rapid development of the Boseto site.

The Development Plan has evaluated longer-term mining at Boseto.  The Development Plan includes the establishment of both open pit and underground mining operations to feed the 3Mtpa concentrator (as evaluated in the BFS) for a 15 year period.  As part of the Development Plan, the diesel power generation plant is to be replaced by an on-site coal fired power station using coal from the extensive coal resources that exist in eastern Botswana.  The purpose of the Development Plan is to present the overall concept for development of the resources currently known at Boseto, so that shareholders understand as fully as possible the current value of their main asset.