Mineral Resources & Ore Reserves

Click here to refer to Competent Persons Statement

Please see this announcement, Kalahari Copper Belt Mineral Resources and Ore Reserves Update dated
14 October 2014, which provides a full explanation of updated Mineral Resources and Ore Reserves.

 

Boseto Ore Reserves

Ore Reserves1 ZETA PLUTUS TOTAL
Open Pit Mt Cu (%) Ag (g/t) Mt Cu (%) Ag (g/t) Mt Cu (%) Ag (g/t)
Proved 1.2 1.2 20 3.7 1.2 11 4.9  1.2 13 
Probable 0.1 1.2 23 3.0 1.3 14 3.1  1.3 14 
Open Pit Ore Reserves  1.3 1.2 20 6.6 1.2 12 8.0 1.2 14
Underground2 Mt Cu (%) Ag (g/t) Mt Cu (%) Ag (g/t) Mt Cu (%) Ag (g/t)
Proved 0.9 1.2 22       0.9 1.2 22
Probable 6.4 1.3 24       6.4 1.3 24
Underground Ore Reserves 7.3 1.3 24       7.3 1.3 24
TOTAL ORE RESERVES3 8.6 1.3 23  6.6 1.2 12 15.3 1.3 19

1 2014 Boseto Ore Reserves are reported as at 30 June 2014 and exclude material mined to that date.  The cut-off grade used for the Open Pit Ore reserves varies depending on the metallurgical recovery which itself is dependent on the ratio of acid soluble copper (AsCu%) to total copper (TCu%); the higher the ratio of AsCu% to TCu%, the lower the metallurgical recovery.  The resulting average cut-off grade (insitu) is generally in the range of 0.5 to 0.6 % Cu.
The economic cut-off grade used to determine the 2014 Zeta Underground Ore Reserves is 1.08% Cu equivalent (CuEq%), where CuEq% = Cu% + 0.008546 x Ag (g/t), and a 4m minimum mining width; 2013 Zeta Underground Ore Reserves used a cut-off grade of 1.07% Cu equivalent (CuEq%), where CuEq% = Cu% + 0.0113 x Ag (g/t), and a 5m minimum mining width.
Please refer to Competent Persons Statement

 

Boseto Mineral Resources

Mineral Resources ZETA1
  Mt Cu (%) Ag (g/t)
Measured 2.3 1.28 22
Indicated 7.7 1.35 25
Subtotal M&I 10.0 1.33 24
Inferred 8.9 1.78 26
TOTAL RESOURCES2 18.9 1.54 25

1 2014 Zeta Mineral Resources are reported as at 30 June 2014 and exclude all mining depletion to that date.  Open Pit Mineral Resources are reported at cut-off grades of 0.5% Cu in fresh rock, 0.7% Cu in transitional material, and 1.0% Cu in oxide; Underground Mineral Resources are reported above a cut-off grade of 1.08% Cu equivalent (CuEq%), where CuEq% = Cu% + 0.008546 x Ag(g/t) ,and a 4m minimum mining width.  Open Pit Mineral Resources are constrained within an optimised pit shell run at 1.5 times the Ore Reserves commodity price.  Underground Mineral Resources are constrained within the limits of geological interpretation, are exclusive of Open Pit Mineral Resources and extend to 800m below surface.
2 Please refer to Competent Persons Statement. The Mineral Resources reported here include any Ore Reserves declared for this Deposit.

 

Mineral Resources PLUTUS1
  Mt Cu (%) Ag (g/t)
Measured 5.0 1.25 11
Indicated 12.9 1.30 13
Subtotal M&I 17.9 1.29 13
Inferred 63.8 1.31 14
TOTAL RESOURCES2 81.7 1.31 13

1 2014 Plutus Mineral Resources are reported as at 30 June 2014 and exclude all mining depletion to that date.  Open Pit Mineral Resources are reported at cut-off grades of 0.5% Cu in fresh rock, 0.7% Cu in transitional material, and 1.0% Cu in oxide; Underground Mineral Resources are reported above a cut-off grade of 1.08% Cu equivalent (CuEq%), where CuEq% = Cu% + 0.008546 x Ag(g/t), and a 4m minimum mining width.  Open Pit Mineral Resources are constrained within an optimised pit shell run at 1.5 times the Ore Reserves commodity price.  Underground Mineral Resources are constrained within the limits of geological interpretation and are reported outside of this pit shell. 
2 Please refer to Competent Persons Statement. The Mineral Resources reported here include any Ore Reserves declared for this Deposit.

 

Mineral Resources ZETA NORTH EAST1
  Mt Cu (%) Ag (g/t)
Measured      
Indicated 2.0 1.50 22
Subtotal M&I 2.0 1.50 22
Inferred 9.6 1.47 29
TOTAL RESOURCES@ 11.6 1.48 28

1 2014 Zeta NE Mineral Resources are reported as at 30 June 2014 and exclude all mining depletion to that date.  Open Pit Mineral Resources are reported at cut-off grades of 0.5% Cu in fresh rock, 0.7% Cu in transitional material, and 1.0% Cu in oxide; and Underground Mineral Resources are reported above a cut-off grade of 1.08% Cu equivalent (CuEq%), where CuEq% = Cu% + 0.008546 x Ag(g/t) ,and a 4m minimum mining width.  Open Pit Mineral Resources are constrained within an optimised pit shell run at 1.5 times the Ore Reserves commodity price.  Underground Mineral Resources are constrained within the limits of geological interpretation and are reported outside of this pit shell.
2 Please refer to Competent Persons Statement. The Mineral Resources reported here include any Ore Reserves declared for this Deposit.

 

Additional Boseto Zone Mineral Resources

  INFERRED MINERAL RESOURCES1
 PROSPECT Mt Cu (%) Ag (g/t)
Selene2 16.0 1.0 16
Ophion3 14.0 1.0 12
NE Mango 14 4.8 1.2 13
NE Mango 25 28.5 1.3 14
TOTAL INFERRED MINERAL RESOURCES 63.3 1.2 14

1 Inferred Mineral Resources reported as at 31 May 2013, at a cut-off grade of 0.6% Cu, and are exclusive of interpreted oxide material.  
2 Drill hole data as at 12 January 2012.
3 Drill hole data as at 11 October 2012.
4 Drill hole data as at 1 August 2012.
5 Drill hole data as at 16 October 2012.

 

Mineral Resources Summary

  Mt Cu (%) Ag (g/t)
Boseto Mineral Resources1 2 112.2 1.36 16
Additional Boseto Zone Mineral Resources3 63.3 1.2 14
TOTAL MINERAL RESOURCES4 175.5 1.3 15

1 Mineral Resources are reported as of 30 June 2014 and exclude all mining depletion to that date.  The 2014 Plutus, Zeta and Zeta NE Open Pit Mineral Resources are reported at cut-off grades of 0.5% Cu in fresh rock, 0.7% Cu in transitional material, and 1.0% Cu in oxide; Underground Mineral Resources are reported above a cut-off grade of 1.08% Cu equivalent  (CuEq%), where CuEq% = Cu% + 0.008546 x Ag(g/t), and a 4m minimum mining width.  2014 Plutus, Zeta and Zeta NE Open Pit Mineral Resources are constrained within a pit optimisation run at 1.5 times the Ore Reserves commodity price.  Underground Mineral Resources are constrained within the limits of geological interpretation.
2 Boseto Mineral Resources includes Plutus (Measured, Indicated and Inferred), Zeta (Measured, Indicated and Inferred) and Zeta NE (Indicated and Inferred only).
3 2014 Mineral Resources estimates are reported as of 31 May 2013 at a cut-off grade of 0.6% Cu and exclude oxide material.
4 Please refer to Competent Persons Statement. The Mineral Resources reported here include any Ore Reserves declared for these Deposits. 

 


Competent Persons Statement

The information on this website that relates to Additional Kalahari Copper Belt Mineral Resources (Selene, Ophion, NE Mango 1 and NE Mango 2) is based on information compiled by Mr Matthew Readford, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM).  Mr Readford is a full time employee of Xstract Mining Consultants Pty Ltd, and has no interest in, and is entirely independent of, Discovery Metals Limited.  Mr Readford has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a 'Competent Person' as defined in JORC 2012.

The information on this website that relates to the and Plutus, Zeta and Zeta North East Mineral Resources and Exploration Targets is based on information compiled by Mr Michael Stewart, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM).  Mr Stewart is a full time employee of QG Australia Pty Ltd, and has no interest in, and is entirely independent of, Discovery Metals Limited.  Mr Stewart has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a 'Competent Person' as defined in JORC 2012.

The information on this website that relates to the Plutus Open Pit, Zeta Open Pit and Zeta Underground Ore Reserves is based on information compiled by Mr Joe McDiarmid, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM(CP)).  Mr McDiarmid is a full time employee of Runge Pincock Minarco Limited, and has no interest in, and is entirely independent of, Discovery Metals Limited.  Mr McDiarmid has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a 'Competent Person' as defined in JORC 2012.  Mr McDiarmid consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Messrs Readford, Stewart and McDiarmid consent to the inclusion on this website of the matters based on information provided by them and in the form and context in which it appears.