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MOD Resources Ltd.
Summary
| Project: | T3 | |
|---|---|---|
| Deposit: | T3 | |
| Location: | Botswana | |
| Commodities: | Copper-Silver | |
| Date: | 10/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 24-10-2017: 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. 8.9m @ 1.7% Cu, 36g/t Ag from 219.1m. MOD Resources Ltd (ASX: MOD) is pleased to announce | |
| Resources: | (Resource, Total): 36Mt @ 1.14% Cu for 409Kt Cu contained at project | |
| CP/QP: | [Overall Report]: Jacques Janse van Rensburg (Internal) | |
| ABSTRACT: | MOD Resources Ltd (ASX: MOD) is pleased to announce further encouraging assay results from the first holes completed since drilling resumed at T3 Copper Project (T3) on 7 August 2017. T3 forms part of the joint venture (JV) between MOD (70%) and AIM listed Metal Tiger Plc (30%) and includes an extensive licence holding in the central and western parts of the Kalahari Copper Belt. The in-country operating company is Tshukudu Metals Botswana (Pty) Ltd (Tshukudu). The current program includes up to 70 diamond core drill holes designed to infill the current resource, test potential resource extensions and drill new targets in the area around the planned pit. The objective of the infill program is to upgrade categorisation of the resource in the current PFS. A substantial number of the planned holes are intended to test the potential for an underground resource within high-grade copper/silver veins stacked below, down dip and along strike from the planned pit. Recent assay results provide encouragement of this underground potential with up to four veins (V1 to V4) identified in many of the holes drilled to date (Figures 1, 2 and Table 1). Veins V1 and V2 occur within the Zone 1 mineralised sequence and V3 and V4 within the Zone 2 sequence. Based on current results, veins V1 and V2 appear to be continuous along >1,100m strike length. This strike length may increase with hole MO-G-90D, which is still in progress, intersecting two bornite/chalcocite vein intervals approximately 300m northeast of the planned pit (Figure 3). | |
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