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MOD Resources Ltd.

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Summary

Project:

T3

Deposit:A1 Dome
Location:Botswana
Commodities:Copper-Silver
Date:11/15/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Feasibility Study
Report details:15-11-2018: MOD Resources Ltd. announces an Exploration/Drilling Update report for its A1 Dome deposit at the T3 project. Drilling results incl. 130m @ 0.52% Cu, 3.5g/t Ag from 590m. MOD Resources Limited (‘MOD’ or the ‘Company’) (ASX: MOD) is pleased to
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Bradley Ackroyd (Internal)
ABSTRACT:MOD Resources Limited (‘MOD’ or the ‘Company’) (ASX: MOD) is pleased to report substantial downhole widths of disseminated chalcocite mineralisation and high grade NPF (Ngwako Pan Formation) contact mineralisation in the initial phase of drilling to test the potential of the large A1 Dome in the Kalahari Copper Belt in Botswana. The ~12km long A1 Dome, located 22km east of MOD’s 60Mt T3 Copper Project, is the second ‘buried dome’ outside the T3 Copper Project to be drilled by the MOD/Metal Tiger JV within the T3 Expansion Project (963km2 ). Following a reinterpretation of the EM data, A1 Dome now comprises the A1, A2, A3, A21 and A27 prospects. A1 Dome and the A4 Dome, 8km west of the T3 Copper Project, form part of the strategy to explore for potential resources which could be processed at the planned T3 process plant and potentially add significant value to the project. Hole MO-A1-005D intersected an exceptional downhole width of disseminated mineralisation within the host sediments which assayed 130m @ 0.52% Cu and 3.5g/t Ag from 590m downhole depth. MO-A1-005D was terminated before intersecting the NPF contact and will be deepened to test this very prospective contact. Eight hundred metres to the east of MO-A1-005D, hole MO-A1-006D intersected another zone of disseminated mineralisation which assayed 52m @ 0.61% Cu and 4.6g/t Ag from 624m downhole depth, including 1.4m @ 3.8% Cu and 26g/t Ag on the NPF contact. Hole MO-A1-003D, 4.2km west of MO-A1-006D, intersected 19m @ 0.8% Cu and 6g/t Ag from 660m downhole depth, including 3m @ 2.0% Cu and 15g/t Ag on the NPF contact. Refer to Table 1 for significant drill hole intersections within A1 Dome and Figure 1 for location of drill holes. MOD’s Managing Director, Julian Hanna, said: “The six hole program intended to scope out the potential along a 4km section of the A1 Dome has been very successful in intersecting significant mineralisation over a wide area. While drilling is still at an early stage, the big widths of disseminated copper and high grades intersected on the NPF contact demonstrate the excellent potential of this large structurally complex dome and the regional copper-belt scale opportunity.” “The results also validate the exploration model being used to locate NPF contact mineralisation which may form a locally flat lying blanket along this regional geological contact. NPF contact mineralisation has been intersected in many holes below the vein hosted and disseminated mineralisation in the A4 Dome and has now been intersected in the A1 Dome ~25km to the east.”

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