HomeBase MetalsMOD Resources announces record high-grade drill intersection to T3

MOD Resources announces record high-grade drill intersection to T3

Botswana – The record intersection is part of the latest assay results from MOD Resources’ resource infill drilling programme at T3.

Hole MO-G-94D returned an impressive intersection of 18 m @ 4.3% Cu and 94g/t Ag from 146 m downhole depth within a wide zone of 53.9m @ 2.0% Cu and 40g/t Ag from 128.5 m downhole depth.

MOD Resources commenced the T3 infill and extension drilling programme in August 2017 to test the potential for additional resource extensions including high-grade vein mineralisation within and outside the planned 10-year open pit mine (T3 Pit Project).

The high-grade intersection in MO-G-94D occurs near the middle of the T3 Pit Project, approximately 100 m above an intersection of 72.6m @ 1.5% Cu and 27g/t Ag in MO-G-65D from 250 m downhole depth, below the current planned pit design.

Recent results include additional significant intersections outside the planned pit design, supporting the T3 Underground Project. These include:

  • 20 m @ 1.2% Cu and 21g/t Ag from 186 m downhole depth (MO-G-93D);
  • 22 m @ 1.2% Cu and 9g/t Ag from 188 m downhole depth (MO-G-95D);
  • 18 m @ 1.9% Cu and 14g/t Ag from 120.3m downhole depth (including 6.2 m @ 3% Cu and 24g/t Ag from 128.8m downhole depth) (MO-G-96D)

T3 is part of the joint venture between MOD Resources and AIM listed Metal Tiger (30%). The company’s in-country operating company is Tshukudu Metals Botswana.

MOD Resources MD Julian Hanna says the big widths of copper, high-grade intercepts, numerous regional drill targets, and continued strength in copper prices have provided the company with a very compelling start to 2018.

“MOD is punching well above its weight and while we may currently have a modest market cap, our drill results are competitive with some of the largest copper companies,” he states. “MOD is gearing up for its biggest year ever in 2018 and we look forward to announcing new results from the ramped-up exploration campaign and feasibility studies in the next few months.”

Drilling resumes in the upcoming week with eight drill rigs on various targets at T3 and T-Rex. Drilling is also planned to commence during the quarter at T1 with the objective to drill out a revised resource and test the potential of other AEM anomalies along the T3 Dome for deposits similar to T3.

Resource upgrade expected late January

Following the recent resource drilling at T3 which demonstrated excellent grades and widths, a further updated mineral resource is expected to be announced later this month. This may require a revision to the PFS, which is currently based on the 24 August 2017 mineral resource.