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MOD Resources Ltd.
Summary
| Project: | T3 | |
|---|---|---|
| Deposit: | T3 | |
| Location: | Botswana | |
| Commodities: | Copper-Silver | |
| Date: | 7/11/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-7-2016: MOD Resources Ltd. announces an Exploration/Drilling Update report for its T3 deposit at the T3 project. JV with Metal Tiger Plc - drilling results incl. 27.5m @ 3.2% Cu, 13g/t Ag from 134.0m. MOD Resources Limited (ASX: MOD) today announced fu | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jacques Janse van Rensburg (Internal) | |
| ABSTRACT: | MOD Resources Limited (ASX: MOD) today announced further positive drill results from the Phase 1 resource target area at the T3 prospect in the Kalahari Copper Belt, Botswana (Figure 1). T3 is part of a joint venture between MOD Resources (70%) and AIM-listed Metal Tiger Plc (30%). MOD Resources’ Managing Director, Mr Julian Hanna, said the latest results were excellent and demonstrated the consistency of widths and grades to around 200 metres depth. “We are particularly excited by results from MO-G-13D, which extended the resource area another 200 metres east to a total 1km strike length. MO-G-13D is supported by other strong, widely spaced intersections in this part of the resource area,” said Mr Hanna. “This one hole has provided further confidence for the potential of more extensions to T3 – beyond the area drilled to date.” He added “MO-G-16D is a stand out with a total of 61.8m of Cu mineralisation intersected in two zones.” MO-G-16D also produced a record Cu assay of 0.8m @ 45.4% Cu and 119g/t Ag within an intersection of 27.5m @ 3.2% Cu and 13g/t Ag from 134.0m downhole. MO-G-16D includes other high-grade assays between 4.9% up to 8.8% Cu. If an arbitrary cut of 15% Cu is applied to this intersection, it becomes 27.5m @ 2.3% Cu and 13g/t Ag which still compares very favourably with other global copper deposits. In addition to three diamond rigs drilling out the Phase 1 resource, a fourth diamond rig has commenced testing deeper targets outside the resource area. Shallow RC drilling is also in progress testing an extensive copper/zinc anomaly approximately 3km east of Phase 1. Results will be reported separately when they become available. | |
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