Zeta Drilling enhances Underground Mine Plans - Discovery Metals ...

ASX RELEASE
28 October 2010
Zeta Drilling Enhances Underground Mine Plans at Boseto
Discovery Metals Limited (AIM: DME) (ASX/BSE: DML)
(‘Discovery Metals’ or ‘Company’)
Highlights
Initial follow‐up drilling of the Zeta Deposit, at the Boseto Copper Project, has returned high grade
(>2.0% Cu) intercepts over significant widths, along more than 1 km of strike length.
Many of the intercepts have elevated copper and silver grades compared to the grades currently
assumed in the Boseto Development Plan (1.4% Cu and 23.1 g/t Ag).
Best intercepts include:
o Hole GDDD1109
o Hole GDDD1104
o Hole GDDD1117
o Hole GDDD1108
o Hole GDDD1110
o Hole GDDD1116
o Hole GDDD1112
o Hole GDDD1115
8.7m @ 2.0% Cu & 41.5g/t Ag
8.0m @ 2.0% Cu & 46.2g/t Ag
8.2m @ 2.2% Cu & 41.9g/t Ag
3.0m @ 2.5% Cu & 53.0g/t Ag
8.0m @ 2.2% Cu & 45.6g/t Ag
6.2m @ 2.2% Cu & 38.1g/t Ag
5.8m @ 2.5% Cu & 52.6g/t Ag
5.0m @ 2.1% Cu & 41.3g/t Ag
These initial results confirm the continuity of grade and thickness of mineralisation for current
Inferred Mineral Resources.
This high grade zone, which is being targeted for future underground mining, remains open at depth.
The drill program is ongoing and will test for further down‐dip extensions of this high grade zone,
and also for a second high grade zone along strike to the south‐west.
Drilling forms part of the Zeta Underground Definitive Feasibility Study, which is planned for
completion in H2 2011.
Zeta Underground Infill Drilling
Discovery Metals Limited announces assay results for the first 12 holes of the current drilling program at the
Zeta Underground Deposit, which is part of its 100% owned Boseto Copper Project (Figures 1 & 2).
This drilling program has been designed to improve confidence in the grade estimation of the Mineral
Resources at Zeta, within those areas considered amenable to underground mining. The drill holes were
targeted to test the down‐dip extensions of the mineral resources beneath the area planned for open pit
mining.

Results from the first 12 holes of the drilling program demonstrate the continuity of grade and thickness
within the mineralised horizon, beneath the planned open pit (Figs. 3 & 4). These holes intersected the
mineralised horizon approximately 150 to 200 metres below surface at regular 100m intervals along strike.
High grade (≥2% Cu) intercepts, overdownhole widths of more than 5 metres, are reported from seven holes,
within a much broader mineralized zone (>1.2% Cu, which is up to 16 metres thick).
These first results are from a top tier of drill holes located beneath the planned area of open pit mining, which
intersected the ore horizon close to the expected interface between the open pit and underground resources.
A second tier of holes, designed to intersect mineralisation approximately 50m further down‐dip, is almost
completed. These second tier holes have all intersected mineralisation with assay results pending.
Future planned holes will test further down‐dip in this area (to approximately 300m below surface), and also
test a second high grade shoot, along strike to the south west. More than 50 holes have been planned (for
over 13,000 metres), of which 21 are now drilled (for 4,981 metres). The program is due to be completed by
the end of 2010.
Previous limited deep drilling indicates that mineralisation at the Zeta Deposit remains open at 600 metres
vertical depth below surface.
Implications for Boseto Copper Project
The successful Scoping Study for the proposed Zeta underground mine, announced in March 2010, was based
on a preliminary resource of 25Mt at 1.4% copper and 23.1g/t silver. This drilling program is designed to
produce information for use in the Definitive Feasibility Study (DFS) for the planned underground mine, which
is currently underway and scheduled for completion in the second half of 2011. A new resource for the Zeta
Deposit will be available in advance of completion of the DFS and is currently planned for completion in April
2011. The results of all underground drilling will allow improved definition of he technical and economic
parameters of the planned mine.
Discovery Metals’ Managing Director, Brad Sampson, commented “Not only do these results confirm what we
expected from the previous drilling program, but the grades are significantly higher, with all of the best
intercepts reporting more than 2% copper over a mineable width. Mineralisation in the underground mine is
sulphide mineralisation, therefore we expect excellent metallurgical recovery and a very high quality
concentrate from underground ores. Using an underground mining rate of 1.5 Mtpa, every 0.1% improvement
in copper grade presented to the mill from the Zeta Underground (above our current assumption of 1.4% Cu)
will add 1,500 more tonnes of copper per year at almost zero additional operating cost. At a $3.00/lb copper
price this adds approximately $9 million to revenue each year and $46 million to after tax NPV compared to
the Boseto Development Plan (BDP) announced at the end of August this year. Further drilling is required
before the Zeta resource as currently evaluated can be updated, but these results are extremely supportive
and encouraging for our planned underground development. The results confirm the Company’s mining
strategy, as set out in the BDP, that the area should be developed as an integrated open cut and underground
complex.”
Mr Sampson added, “The Company aims to continue to upgrade and present additional credible long term
development plans for our extensive tenement package in north‐west Botswana as exploration information is
obtained at Boseto and further afield. We would like all shareholders to understand the value proposition
embedded in Discovery Metals above and beyond the value which can be seen in the current Development
Plan, which we regard as very much the start of things. We have a number of underground targets already at
Boseto alone and will progressively drill these out to further demonstrate the efficacy of our development
strategy. The next underground targets to be explored are beneath the Plutus open pit areas. Four quality
underground targets are already identified in this area and we’ll seek to replicate the planned Zeta

underground mine in due course, thereby giving us the opportunity to increase throughput and mine life
above the currently committed 3 Mtpa for 15 years. Drilling beneath the Plutus open pit areas will commence
in the first half of 2011.”
Boseto Copper Project Background:
Discovery Metals is an AIM/ASX/BSE listed copper exploration and development company focused on the
emerging Kalahari Copperbelt in north‐west Botswana. The Company is currently developing its 100% owned
Boseto Copper Project towards production in the first half of 2012.
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 3.9 1.6 23.0 0.1 1.3 11.4 4.0 1.6 22.7
Indicated 7.0 1.5 23.8 11.5 1.4 14.1 18.5 1.4 17.8
Subtotal M&I 10.9 1.6 23.5 11.6 1.4 14.1 22.5 1.5 18.7
Inferred 24.5 1.4 21.8 55.8 1.4 14.8 80.3 1.4 16.9
Total Mineral 35.4 1.4 22.3 67.4 1.4 14.7 102.8 1.4 17.3
Resources
Mineral Resources are reported at a cut‐off grade of 0.6% Cu.
Please refer Competent Persons Statement
The Mineral Resource is inclusive of High Grade Ore Reserves at a cut‐off of 0.6% Cu.
High Grade Ore
ZETA PLUTUS & PETRA TOTAL
Reserves
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 11.0 4.2 1.6 21.6
Probable 6.5 1.5 23.6 11.1 1.3 14.5 17.6 1.4 17.3
High Grade Ore
10.5 1.5 23.0 11.3 1.3 14.5 21.8 1.4 18.2
Reserves**
High Grade Reserves reported at a cut‐off grade of 0.6% Cu Please refer Competent Persons Statement
The Kalahari Copperbelt sediment‐hosted mineralisation of the Boseto Copper Project is similar in style to the
well known, extensive deposits of the Central African Copperbelt of Zambia and the Democratic Republic of
the Congo.
Discovery Metals has prospecting licences covering 9,656 km 2 along the Kalahari Copperbelt. The Company
has identified a number of exploration targets and is progressing a US$5m exploration program.

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). Mr Nhiwatiwa is a full‐time employee of Discovery Metals Limited. Mr
Nhiwatiwa 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 JORC Code (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 JORC Code. 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 JORC Code. Messrs Nhiwatiwa, Arnott and Myers 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.
Further information on the Company is available on its website: www.discoverymetals.com.au
For further information on this release and Discovery Metals Limited generally, please contact:
Brad Sampson Managing Director Ph: +61 7 3218 0200 or Mob: +61 4 3877 1037
brad@discoverymetals.com.au
AIM Nominated Advisor – Fairfax I.S. PLC, Contact Ewan Leggat/Laura Littley Ph: +44 20 7460 4389 or 7460 4387
UK PR – Conduit PR, Contact Jos Simpson/Emily Fenton Ph +44 207 429 6603 or Mob +44 7899 870 450
ASX & BSE: DML
AIM: DME
SHARE PRICE: A$1.14 SHARES: 302M Market Cap: A$345M

Table 1: Drilling Results from Zeta Deep Drill Program
HoleID
Prospect
Northing
(m)
WGS84
SUTM34
Easting
(m)
WGS84
SUTM34
Section
Dip/Azimuth
Total
Depth
(m)
Min.
From
(m)
Min.
To
(m)
Intercepts, over down‐hole thickness
(@ 0.3% Cu cut‐off)
149.0 150.0 1.0m @ 1.1 % Cu & 22.0 g/t Ag
GDDD1102 Zeta 7719445.0 708417.4 39100N ‐60° to 140° 173.8
154.0 156.0 2.0m @ 0.6 % Cu & 3.4 g/t Ag
159.0 169.4 10.4m @ 1.2 % Cu & 23.9 g/t Ag
GDDD1109 Zeta 7719530.0 708476.8 39200N ‐60° to 140° 212.8
192.0 196.0 4.0m @ 0.4 % Cu & 2.0 g/t Ag
200.0 208.7 8.7m @ 2.0 % Cu & 41.5 g/t Ag
162.0 178.0 16.0m @ 1.3 % Cu & 25.3 g/t Ag
GDDD1104 Zeta 7719589.0 708552.0 39300N ‐60° to 140° 182.8
including
170.0 178.0 8.0 m @ 2.0 % Cu & 46.2 g/t Ag
GDDD1111 Zeta 7719716.0 708648.0 39450N ‐60° to 140° 212.4
185.0 186.0 1.0m @ 1.5 % Cu & 14.0 g/t Ag
189.0 207.0 18.0m @ 1.2 % Cu & 22.6 g/t Ag
GDDD1105 Zeta 7719783.0 708727.0 39550N ‐60° to 140° 176.8 158.0 172.0 14.0m @ 0.9 % Cu & 14.4 g/t Ag
188.3 202.2 13.9m @ 1.7 % Cu & 32.2 g/t Ag
GDRD1117 Zeta 7719868.0 708781.0 39650N ‐60° to 151° 206.2
including
194.0 202.2 8.2m @ 2.2 % Cu & 41.9 g/t Ag
174.0 186.4 12.4m @ 1.4 % Cu & 30.6 g/t Ag
GDDD1108 Zeta 7719943.0 708862.0 39800N ‐60° to 140° 190.8
including
183.0 186.0 3.0m @ 2.5 % Cu & 53.0 g/t Ag
187.0 189.0 2.0m @ 0.5 % Cu & 10.5 g/t Ag
GDDD1110 Zeta 7720014.0 708924.8 39850N ‐60° to 140° 213.0
193.0 206.6 13.6m @ 1.6 % Cu & 32.7 g/t Ag
including
197.0 205.0 8.0m @ 2.2 % Cu & 45.6 g/t Ag
165.0 167.1 2.1m @ 0.8 % Cu & 13.3 g/t Ag
GDRD1116 Zeta 7720158.0 709063.0 40050N ‐60° to 151° 185.4
171.0 181.5 10.5m @ 1.7 % Cu & 25.0 g/t Ag
including
172.1 178.4 6.2m @ 2.2 % Cu & 38.1 g/t Ag
180.0 181.0 1.0m @ 1.3 % Cu & 22.0 g/t Ag
GDDD1112 Zeta 7720235.0 709135.4 40200N ‐60° to 140° 199.2
186.0 195.0 9.0m @ 1.8 % Cu & 38.0 g/t Ag
including
187.2 193.0 5.8m @ 2.5 % Cu & 52.6 g/t Ag
GDDD1115 Zeta 7720345.0 709222.0 40300N ‐60° to 140° 213.0
194.0 196.0 2.0m @ 0.5 % Cu & 14.0 g/t Ag
203.0 208.0 5.0m @ 2.1 % Cu & 41.3 g/t Ag
163.0 175.3 12.3m @ 0.9 % Cu & 17.8 g/t Ag
GDRD1119 Zeta 7720536.0 709434.0 40600N ‐62° to 151° 179.8
including
168.0 172.0 4.0m @ 1.3 % Cu & 28.3 g/t Ag