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MOD Resources Ltd.
Summary
| Project: | T3 | |
|---|---|---|
| Deposit: | T3 | |
| Location: | Botswana | |
| Commodities: | Copper-Silver | |
| Date: | 12/9/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 9-12-2016: MOD Resources Ltd. announces an Exploration/Drilling Update report for its T3 deposit at the T3 project. JV - drilling results incl. 49.7m @ 1.5% Cu, 33g/t Ag from 129.4m. MOD Resources Ltd (ASX: MOD) is pleased to announce the Botswana Mines M | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Jacques Janse van Rensburg (Internal) | |
| ABSTRACT: | MOD Resources Ltd (ASX: MOD) is pleased to announce the Botswana Mines Minister has granted two-year extensions for 10 joint venture (JV) licences, including PLs 189/2008 and 190/2008. The area covers ~918km2 centred around the Company’s T3 Project and a large part of the highly prospective T3 Dome in the Kalahari Copper Belt, Botswana. The Department of Mines also approved the transfer of the MOD/Metal Tiger Plc JV licences to Tshukudu Metals Botswana (Pty) Ltd to simplify ownership. In addition, terms have been agreed with a Botswana company for Tshukudu Metals to enter an option agreement to acquire 100% interest in two additional licences immediately west of Ghanzi. These licences include soil and structural targets and extend coverage of the Mahumo Structural Corridor to the Namibian border (Figure 1). As a result, Tshukudu Metals will hold approximately 200km length of this structural zone with numerous quality targets to be tested over two years. The Mahumo Structural Corridor is interpreted to host >3Mt copper in announced resources in copper/silver deposits on neighbouring licences held by Cupric Canyon Capital. MOD’s recently announced resource and scoping study for an open pit mine and processing plant at T3, as well as drilling at T1, T2 and T4 and an extensive area of MOD/Metal Tiger JV licences which remain effectively untested, all form part of the Mahumo Structural Corridor. MOD Managing Director, Mr Julian Hanna, said the licence renewals allow the joint venture to continue extensive exploration along the 50km T3 Dome and several other high priority targets. | |
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