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MOD Resources Ltd.
Summary
| Project: | T3 | |
|---|---|---|
| Deposit: | T3 | |
| Location: | Botswana | |
| Commodities: | Copper-Silver | |
| Date: | 12/6/2016 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 6-12-2016: MOD Resources Ltd. announces a Scoping Study report for its T3 deposit at the T3 project. JV with Metal Tiger Plc - Scoping study results on T3. MOD Resources Ltd (ASX: MOD) is pleased to announce results of the scoping study for a proposed ope | |
| Resources: | (Resource, I+I): 28.358Mt @ 1.24% Cu, 15.7g/t Ag | |
| CP/QP: | [Resources]: A.I. Pretorius (Independent) | |
| ABSTRACT: | MOD Resources Ltd (ASX: MOD) is pleased to announce results of the scoping study for a proposed open pit mine at its 70%-owned T3 copper-silver deposit in the Kalahari Copper Belt, Botswana. The project economics are highly encouraging and highlight MOD’s potential to become a long-life copper producer in Botswana. Due to the robust financial outcomes indicated by the scoping study, MOD and joint venture partner, Metal Tiger Plc (30%) will proceed with a pre-feasibility study (PFS) commencing early 2017. On 26 September 2016, six months after the discovery of T3, MOD announced a maiden resource at T3 comprising 28.36Mt grading 1.24% copper and 15.7g/t silver, containing approximately 350,200t copper (~772Mlbs copper) and >14Moz silver. The T3 resource includes 18Mt grading 1.35% Cu and 16.7g/t Ag in the Indicated Resource category which represents 64% of the total resource. The resource is open along strike west of current drilling and extension drilling is planned in early 2017. T3 mineralisation consists of disseminated and vein hosted copper sulphides including chalcopyrite, bornite and chalcocite occurring within a shallow dipping sequence of sediments up to 50m true width. As part of the PFS, MOD intends to conduct infill drilling around areas of high-grade vein mineralisation within the resource. The purpose is to define the extent of this high grade mineralisation which may provide opportunities for improving the grade of current production targets at an early stage of mining. | |
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