MOD Resources Reports 13 Percent Increase in Indicated Resource at T3

MOD Resources (ASX:MOD) has announced a 13 percent increase in contained copper in the indicated mineral resource category at T3 in Botswana compared with the resource update announced on 2 July 2018 at the same 0.4 percent copper cut-off grade.

The T3 Project forms part of a joint venture with AIM-listed Metal Tiger and is located within an extensive holding of licences operated by in-country subsidiary, Tshukudu Metals Botswana in the central Kalahari Copper Belt in Botswana.

As highlighted in the press release:

• Re-classification of the T3 Resource announced on 2 July 2018 has resulted in a 13 percent increase in contained copper in the indicated mineral resource category, at the same 0.4 percent copper cut-off grade
• Total mineral resource at T3 remains the same as announced on 2 July 2018: 60Mt at 0.98 percent copper and 14 grams per tonne (g/t) silver containing 590Kt copper and 27Moz silver (0.4 percent copper cut-off)
• Indicated mineral resource now contains 417Kt copper and 18.6Moz silver (0.4 percent cut-off) representing 70 percent of contained copper and 61 percent of the tonnes in the total mineral resource.
• Drilling is testing possible further resource extensions to the high grade vein underground potential, plus extensions along strike outside the T3 PFS expansion case pit design.

Managing director of MOD, Julian Hanna said:

“This very positive upgrade would appear to support a potential increase in the design throughput of the planned T3 processing plant. We also consider there is now potential that the Feasibility Study Ore Reserve could significantly exceed the Ore Reserve used in the PFS.”

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