The Dikoloti Nickel Project in north-east Botswana is a joint venture with The Japan Oil Gas Metals & Energy Corporation (JOGMEC), who have earned a right to 79% of the project to 30 June 2012. JOGMEC will provide funding for the next two year exploration programme to 2014 and therefore Discovery Metals’ share of the project is expected to continue to dilute as it focuses on the development and potential expansion of the Boseto Copper Project.
The Dikoloti Nickel Project currently comprises three prospecting licences covering an area of 213.6 square kilometres surrounding four nickel-copper deposits with a combined historic resource of 182 Mt @ 0.8% Ni & 0.88% Cu that is owned by Bamangwato Concessions Limited (BCL) in the Selebi-Phikwe region of north-east Botswana. The Company recently received an extension of the prospecting licences that involved some relinquishing of land, however, the reduced licence area covers all the areas of interest to the Company.
Discovery North East (Pty) Ltd announced in 2005 a JORC compliant inferred resource of 4.1 Mt @ 0.7% Ni, 0.5% Cu and 1.2 g/t PGE (Snowdens August 2005).
JOGMEC was established on 29 February 2004 as a merger of several Japanese government agencies. JOGMEC’s charter incorporates that of the former Metal Mining Agency of Japan, which was in charge of ensuring a stable supply of nonferrous metal and mineral resources.