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MOD Resources Ltd.
Summary
| Project: | T3 | |
|---|---|---|
| Deposit: | T3 | |
| Location: | Botswana | |
| Commodities: | Copper-Silver | |
| Date: | 10/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 28-10-2016: 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. 48.3m @ 1.4% Cu, 9g/t Ag from 108.0m. MOD Resources Ltd (ASX: MOD) is pleased to announce | |
| Resources: | (Resource, I+I): 28.358Mt @ 1.24% Cu, 15.7g/t Ag at T3 (0.5% Cu cutoff) | |
| CP/QP: | [Overall Report]: Jacques Janse Van Rensburg (Internal) | |
| ABSTRACT: | MOD Resources Ltd (ASX: MOD) is pleased to announce the second diamond drill hole (MO-T3U- 02D) to test a large IP anomaly announced on 10 October 2016 has intersected copper mineralisation approximately 600m down dip from the T3 conceptual pit shell (Figure 3). Weak to moderate disseminated and local vein hosted chalcopyrite, bornite and chalcocite sulphides and minor native copper were intersected in several zones over a 35m interval within the T3 Target Sequence from 466.4m downhole depth (Figure 4). It is unclear at this stage whether the mineralisation intersected in MO-T3U-02D is responsible for the IP chargeability anomaly (Figure 3). Interpretation of the geological and geophysical data is in progress and assay results are required to determine the grade of the intersection in MO-T3U-02D. The mineralisation overlies the Kalahari footwall sandstone sequence (Ngwako Pan Formation) and is interpreted to occur on the same contact as the Chalcocite Zone deposit (47Mt @ 0.56% Cu) owned by Cupric Canyon Capital. Chalcocite Zone is located 32km east along strike from T3, immediately east of the MOD/Metal Tiger (“MTR”) licence boundary. There is minimal drilling between T3 and Chalcocite Zone, or elsewhere along the interpreted T3 Dome area (Figure 1). Managing Director, Mr Julian Hanna said, “Two weeks ago MOD announced it would focus on drilling IP, soil and structural targets along the T3 Dome during the December quarter. This program has got off to a very encouraging start with disseminated and local vein hosted mineralisation intersected in the second hole to test the T3 IP anomaly. | |
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