copper Zambia

MOD Resources announced that an application for an environmental management plan has been lodged with DEA for drilling within a large (~697 km2 ), highly prospective area along the northern part of the T20 Dome complex.

Botswana – This follows a recent announcement confirming an EMP has been approved, subject to a four-week public review period, for drilling along the T3 Dome, expected to commence in May.

T3 Dome and T20 Dome form part of the joint venture with AIM-listed Metal Tiger within an extensive holding of licences operated by in-country subsidiary, Tshukudu Metals Botswana in the central and western parts of the Kalahari copper belt in Botswana.

The drilling planned at T20 Dome is part of a major campaign to test new targets extending ~140 km along the Central Structural Corridor on JV licences.

MOD Resources’ share of drilling expenditure will be funded from the recent share placement and entitlements offer.

Several drilling targets have been identified within the EMP application area, including T4 and T23.

MOD Resources intersected significant copper mineralisation at T4, including an intersection of 2 m @ 6% Cu and 111 g/t Ag from 101 m depth in RC hole MO-A-04R before the discovery of T3.

Data from the recent trial EM survey and from soil sampling has generated a new preliminary interpretation for T4, opening up potential for possible extensions to known mineralisation.

15 km west of T4, a compelling new target has been identified (T23), based on preliminary
interpretation of the EM and magnetic data.

A magnetic image shows a very unusual, ‘rotated’ structural anomaly within the core of a larger interpreted dome.

T23 is likely to be the first target drilled within the T20 Dome, after environmental approval is received.

As a result of the success of the trial EM survey, the joint venture plans to proceed with an
additional ~939 km2 EM survey linking the three trial EM blocks and extending over the centre of the T20 Dome complex.

This survey is expected to commence in mid 2018.

Approval of the first T20 Dome EMP is expected to increase the total area (T3 Dome plus T20 Dome) available for drilling to approximately 1,377 km2 , covering 28 farms where Tshukudu has executed access agreements.

“With T3 moving through feasibility towards a decision to mine, we can now start testing a wide range of exciting new targets with the objective to demonstrate the wider potential of this under-explored copper belt,” comments MOD Resources MD Julian Hanna.

“The planned expansion of drilling into the T3 Dome and subsequently into the T20 Dome is a core part of our growth strategy in 2018.”