MOD Resources Limited (ASX: MOD) says that a review of previous drilling at the 100% owned Corner K deposit has identified two >500m long zones of high grade copper sulphide and silver mineralisation at shallow depth.
The high grade zones (the ‘West Zone’ and ‘East Zone’) were defined by applying a 1.5% copper cut-off to numerous diamond drill hole intersections. Both zones remain open below the current limit of drilling (~200m). The new interpretation suggests potential exists for the two zones to be joined below the shallower ‘Central Zone’.
The 2.5km long deposit has been named the Mahumo Deposit (meaning ‘riches’ in Botswana). The Mahumo Deposit occurs at the western end of the 4.5km long Corner K mineral resource (approximately 9.5Mt@1.14%copper equivalent1 to vertical 200m depth) announced on 24 September 2012.
In 2011/2012 MOD conducted substantial diamond drilling along the 4.5km long Corner K deposit on 100m and 200m spaced sections. The objective of the initial drilling program at the time was to define a large mineral resource which had potential to be mined by open pit. MOD is now focused on exploring for smaller, structurally controlled, high grade sulphide deposits in the Kalahari Copper Belt which have potential to be mined by underground rather than by open pit mining. This strategy is similar to that being adopted by neighbouring companies active in the region.
The newly defined Mahumo Deposit represents approximately 50% of the total strike length of the previously announced Corner K mineral resource. The numerous, widely spaced, high grade copper and silver drill hole intersections have effectively been diluted in the resource by a large volume of lower grade mineralisation extending 2km east of the Mahumo Deposit.
The new interpretation of the drill hole data from the Mahumo Deposit highlights the potential that high grade vein related copper and silver mineralisation may extend over many hundreds of metres along strike. The interpretation represented in Figure 1 (if confirmed by deeper drilling) suggests that mineralisation may also extend to depth in the centre of what is interpreted to be a wide synclinal keel.
The potential of the Mahumo Deposit is considered significant for a number of reasons, including Copper grades in drill holes within the West Zone and East Zone (typically 1.5-2.5% Cu) are ~20-25%higher than copper grades of other mineral resources in the region; Silver grades in drill holes within the West Zone and East Zone (typically 45-60g/t Ag) are three to four times higher than silver grades of other mineral resources in the region.
Mahumo also includes some of the highest reported individual copper and silver grades in drilling in the region (up to 12.9%Cu and 208g/t Ag); Copper mainly occurs as Chalcocite and Bornite sulphides at relatively shallow depth rather than Chrysocolla/Malachite/Azurite in more deeply oxidised deposits in the region.
As announced on 28 May 2014, samples of sulphide mineralisation from the Mahumo Deposit are being sent to Perth for test work by metallurgical consultants, IMO; Drilling is clearly warranted to test for significant extensions and potential thickening of the Mahumo mineralisation down dip and down plunge from current intersections an High grade sulphides occurring with hydrothermal quartz/carbonate veining support MOD’s strategy to focus on structural targets in the Kalahari Copper Belt.
Managing Director Julian Hanna said he is very excited by progress on the Botswana Project during the past few months and the potential for new discoveries at MOD’s current targets.
“The discovery in February of the previously unknown Molelo Intrusion in the middle of the belt signalled a change in MOD geologists’ understanding about the potential of this large copper province. The interpreted magnetic core of the intrusion is now high on the list of drilling targets,” Hanna said.
“Then in June, recognition of the significance of the high grade copper and silver intersections in the 2.5km long Mahumo Deposit also elevated this to a high priority for drilling. In addition, our geologists are very keen to commence work on the Marthie Prospect where it is interpreted that up to 25km of the copper prospective contact may have been folded into a structurally favourable site”.