ASX-listed copper junior MOD Resources has declared a maiden mineral resource of 28.36 Mt containing about 350 200 t of copper and 14.27 Moz of silver.
The combined Indicated and Inferred resource estimates using a 0.5% copper cut-off, consist of 28.36 Mt grading at 1.24% copper and 15.7 g/t silver, containing approximately 350 200 t of copper (~772 Mlbs copper) and 14.27 Moz of silver. This includes a high-grade resource using a 1.5% copper cut-off grade, which consists of 8.48 Mt grading at 2.16% copper and 30.6 g/t silver, containing approximately 182 900 t of copper and 8.34 Moz of silver.
The T3 copper-silver deposit, which is located in the Kalahari Copper Belt in Botswana, forms part of a joint venture between MOD Resources (70%) and AIM-listed Metal Tiger (30%).
“This news represented a tremendous milestone for the joint venture and a major step towards MOD’s objective of becoming a long-life, copper producer in Botswana,” says MOD Resources MD Julian Hanna .
“To be able to report 350 000 t of contained copper and more than 14 Moz of silver in the first resource from a new discovery in a relatively unexplored region is a great achievement for the whole team,” says Hanna.
MOD Resource says 64% of the total resource tons are in the Indicated Resource category, demonstrating the excellent continuity of the mineralisation, adding that the results exceed MOD’s expectations and compare favourably on a global scale.
The compnay notes that T3 appears to be a distinctive geological model which it will target for further possible discoveries elsewhere along the interpreted 25 km-long T3 Dome. The T3 resource remains open down dip northeast of the deposit and along strike south west of the deposit.