MOD Resources Announces Mineral Resource Increase at T3, Botswana

MOD Resources (ASX:MOD) today announced a substantial 44 percent increase in the total Mineral Resource at its T3 project in Botswana compared with the previous resource estimated at the same 0.4 percent copper cut-off grade.

MOD’s Managing Director, Julian Hanna said the revised resource has far exceeded expectations and as a result MOD’s project development team is reviewing how the expanded resource could impact the T3 Project.

“As a minimum, this upgrade would appear to support the compelling Expansion Case pit model announced in the Pre-Feasibility Study, which was based on average annual production of 28Ktpa copper over a 12 year mine life. We are very encouraged by the new resource and believe there is potential that production and mine life could be extended beyond the Expansion Case.”

As highlighted in the press release:

• Total Mineral Resource at T3 (at 0.4 percent copper cut-off) now comprises 60 million tonnes at 0.98 percent copper and 14 grams per tonne (g/t) silver containing 590,000 copper and 27 million oz silver
• Revised resource represents 44 percent increase in contained copper (at 0.4 percent cut-off) compared with re-evaluation of previous resource at same cut-off grade
• 46 percent of the revised total resource (at 0.4 percent copper cut-off) is now classified in the high confidence indicated mineral resource category
• The resource upgrade appears to support and potentially exceeds the expansion case open pit model reported in the PFS
• Drilling is continuing to extend high grade underground potential outside the planned T3 Pit.

Click here to read the full MOD Resources (ASX:MOD) press release.