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MOD Resources Ltd.
Summary
| Project: | T3 | |
|---|---|---|
| Deposit: | T3 | |
| Location: | Botswana | |
| Commodities: | Copper-Silver | |
| Date: | 7/2/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 2-7-2018: MOD Resources Ltd. announces a Resource Estimation report for its T3 deposit at the T3 project. Updated mineral resource estimate at T3 project. MOD Resources Ltd (ASX: MOD) today announced a substantial 44% increase in the total Mineral Resourc | |
| Resources: | (Resource, Total): 60.155Mt @ 0.98% Cu, 14g/t Ag for 590Kt Cu, 26.9Moz Ag contained at T3 | |
| CP/QP: | [Resources]: Bradley Ackroyd (Internal) | |
| ABSTRACT: | MOD Resources Ltd (ASX: MOD) today announced a substantial 44% increase in the total Mineral Resource at T3 (Motheo) compared with the previous resource estimated at the same 0.4% Cu cut-off grade. The revised resource estimate was prepared by leading independent resource consultants, CSA Global. The T3 Project forms part of a joint venture with AIM-listed Metal Tiger Plc (30%) and is located within an extensive holding of licences operated by in-country subsidiary, Tshukudu Metals Botswana (Pty) Ltd (Tshukudu) in the central Kalahari Copper Belt in Botswana. The upgraded resource follows completion of a 90-hole program of infill and extensional diamond core drilling around the planned pit at T3. The drilling program also included holes to test for potential underground extensions outside the planned pit. Assuming a 0.4% Cu cut-off grade, the total revised resource tonnage now exceeds 60Mt and contains ~590Kt copper, representing a major step up from previous resources. Assuming the 0.5% Cu cut-off grade used in the previous resource estimate (announced 24 August 2017), the revised resource estimate also represents a 31% increase in total resource tonnes to 47Mt and a 30% increase in contained copper to 531.5Kt Cu, compared with the previous resource estimate. In addition, there has been a significant increase in copper grades at higher cut-off grades, compared with the previous resource estimate. For example, at a cut-off grade of 1.0% Cu, the grade of the revised resource has increased from 1.43% Cu to 1.97% Cu. The new resource upgrade also provides further confidence in the project with ~46% of the total resource now classified in the Indicated Resource category | |
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