Quarterly Activities Report - 1 July to 30 September 2011 - Discovery ...

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Forward Looking Statements This release includes certain statements that may be deemed “forward‐looking statements”. All statements in this discussion, other than statements of historical facts, that address future activities and events or developments that Discovery Metals expects, are forward‐looking statements. Although Discovery Metals believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward‐looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward‐looking statements. Page 16 of 18
Mineral Resources The total Mineral Resources and Ore Reserves for the Boseto Copper Project, reported in accordance with The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, “2004 Edition”), at a cut‐off of 0.6% Cu, are: Mineral Resources ZETA PLUTUS & PETRA TOTAL Mt Cu (%) Ag (g/t) Mt Cu (%) Ag (g/t) Mt Cu (%) Ag (g/t) Measured 4.6 1.6 23.5 0.1 1.3 11.4 4.7 1.6 23.2 Indicated 12.4 1.5 26.1 11.5 1.4 14.1 23.9 1.5 20.3 Subtotal M&I 17.0 1.5 25.4 11.6 1.4 14.1 28.6 1.5 20.8 Inferred 27.1 1.2 20.0 55.8 1.4 14.8 82.9 1.3 16.5 Total Mineral Resources 44.1 1.3 22.1 67.4 1.4 14.7 111.5 1.4 17.6 Mineral Resources are reported at a cut‐off grade of 0.6% Cu. Please refer to Competent Persons Statement Ore Reserves The Mineral Resource is inclusive of High Grade Ore Reserves at a cut‐off of 0.6% Cu. High Grade Ore Reserves ZETA PLUTUS & PETRA TOTAL Mt Cu (%) Ag (g/t) Mt Cu (%) Ag (g/t) Mt Cu (%) Ag (g/t) Proved 4.0 1.6 22.1 0.2 1.3 11.7 4.2 1.6 21.6 Probable 6.5 1.5 23.5 11.1 1.3 13.7 17.6 1.4 17.3 High Grade Ore Reserves 10.5 1.5 23.0 11.3 1.3 13.7 21.8 1.4 18.2 High Grade Reserves reported at a cut‐off grade of 0.6% Cu Please refer to Competent Persons Statement Competent Persons Statement The information in this report that relates to Exploration Results is based on information compiled by Mr Fred Nhiwatiwa who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and Mr Wallace Mackay who is a Member of the Australian Institute of Geoscientists. Mr Nhiwatiwa and Mr Mackay are full‐time employees of Discovery Metals Limited. Messrs Nhiwatiwa and Mackay have 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 the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. The information in this report as it relates to the Zeta, Plutus and Petra Mineral Resources for the Boseto Copper Project was reviewed by David Arnott, who is a MAusIMM. Mr Arnott is employed fulltime by Snowden Mining Industry Consultants Pty Ltd (Snowden). Mr Arnott 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 the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. The information in this report as it relates to the Ore Reserves is based on information reviewed by Mr Peter Myers, who is a MAusIMM and a fulltime employee of Snowden. Mr Myers has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the preparation of mining studies to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. The information in this report as it relates to the Dikoloti Mineral Resource was reviewed by Mr Stefan Mujdrica of Xstract Mining Consultants Pty Ltd. At the time of reviewing the reported Mineral Resource, Mr Mujdrica was employed by Snowden. Mr Mujdrica is a MAusIMM and 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 the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Messrs Nhiwatiwa, Mackay, Arnott, Myers and Mujdrica consent to the inclusion in this report of the matters based on information provided by them and in the form and context in which it appears. Page 17 of 18
Page 1 and 2: 20 October 2011 ASX ANNOUNCEMENT Li
Page 3 and 4: o Delivery and commissioning of mob
Page 5 and 6: 2. Boseto Operational Progress Temp
Page 7 and 8: Liebherr 9350 loading a Caterpillar
Page 9 and 10: Exploration in the Kalahari Copperb
Page 11 and 12: diamond holes were drilled over a s
Page 13 and 14: In the Kanye Basin in Botswana, fou
Page 15: As the Company’s assets and prosp
Page 19 and 20: Appendix 5B Mining exploration enti

Quarterly Activities Report - 1 July to 30 September 2011 - Discovery ...

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