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MOD Resources Ltd.
Summary
| Project: | T3 | |
|---|---|---|
| Deposit: | T3 | |
| Location: | Botswana | |
| Commodities: | Copper-Silver | |
| Date: | 8/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 24-8-2017: MOD Resources Ltd. announces a Resource Estimation report for its T3 deposit at the T3 project. JV with Metal Tiger Plc - Mineral Resource estimate leads to 16% increase in contained copper. MOD Resources Ltd (ASX: MOD) is pleased to announce a | |
| Resources: | (Resource, Total): 35.97Mt @ 1.14% Cu, 12.79g/t Ag for 408.93Kt Cu, 14.79Moz Ag contained | |
| CP/QP: | [Resources]: A. I. Pretorius (Sphynx Consulting) | |
| ABSTRACT: | MOD Resources Ltd (ASX: MOD) is pleased to announce a substantial increase in the Mineral Resource at the T3 Copper Project (T3) following inclusion of holes completed in the March Quarter 2017. T3 forms part of the joint venture (JV) between MOD (70%) and AIM listed Metal Tiger Plc (30%) which 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). MOD’s Managing Director Mr Julian Hanna said, “The 16% uplift to more than 400,000 tonnes contained copper has potential to add significant value and profitability to this project. Coincidently, copper has also risen approximately 30% since the maiden resource was announced, approaching the US$3/lb copper price used for the upside case in the original T3 scoping study we released on 6 December 2016.” “As a result of these very positive developments, our feasibility study team is rethinking the planned mining schedule and processing rates to be used in the pre-feasibility study (PFS).” Mr Hanna added. The next phase of drilling at T3 (Phase 2) announced on 7 August 2017 has commenced, initially with four drill rigs testing the potential for additional resource extensions, high grade vein mineralisation extending down dip from the planned open pit, and IP and EM targets north of T3. This program includes holes to test within, below, down dip and along strike from the revised resource (Figure 1). All six holes completed to date have intersected potentially significant visible copper mineralisation and results will be announced when assays are received and interpreted. | |
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