MOD Resources Sees Significant Underground Mining Opportunity At T3 Project

ASX listed MOD Resources Ltd has encouraging assay results from its resource extension drilling programme at the T3 copper project in Botswana.

MOD commenced the T3 infill and extension drilling programme or Phase 2 in August 2017 to test the potential for additional resource extensions as well as high-grade vein mineralisation outside the planned open pit and several IP and EM targets near T3.

The 70-hole diamond drilling programme has a particular focus on testing the potential for high-grade veins continuing over a wide area and extending further along strike from the planned open pit. A total of 36 holes in this program have been completed to date.

Results from six recent holes (MO-G-74D, MO-G-76D, MO-G-78D, MO-G-79D, MO-G-80D and MOG-81D) near the eastern and western limits of drilling confirm significant mineralisation continues along strike for ~1,500 metres from the planned open pit mine and that this potential remains completely open.

Four of the six new holes (MO-G-76D, MO-G-78D, MO-G-80D and MO-G-81D) intersected potential ore-grade veins, which appear to be continuous with shallow dipping veins (V1-V4) identified below, down dip and along strike from the planned pit (as announced on 24 October 2017).

MOD’s Managing Director, Julian Hanna, said he was very encouraged by the latest results which are starting to demonstrate a compelling new potential at T3. “These veins may represent a significant underground mining opportunity, in addition to the planned 10 year open pit which is the subject of the current PFS,” he said.

T3 Dome Exploration Program (Airborne EM)

Coincident with the latest assay results, a re-interpretation of airborne EM (AEM) data extending 50km along the T3 Dome has also been completed. This has confirmed the potential of many of the individual AEM targets (as announced 21 July 2017), which are planned to be drill tested.

Importantly, the re-interpretation of AEM data also appears to have defined in reasonable detail the 3D structural geometry of the T3 host sequence, to approximately 500m below surface. This is based on systematic interpretation of cross sections of high quality AEM data at 100m intervals along the T3 Dome by one of MOD’s experienced geological consultants.

To verify the 3D model, a sixth diamond drill rig has arrived on site and drilling has commenced to determine the source of an 11km long, shallow plunging conductive anomaly (‘T-Rex’), which extends 4-5kms either side of T3. The first hole in this program is located ~2km east of T3. T-Rex is represented in this announcement as a longitudinal section which shows the interpreted top contact of the AEM conductor and the location of the T3 resource.

“There are two exciting implications if drilling confirms T-Rex is associated with the T3 mineralised host sequence,” Hanna said. “Firstly, it opens up the potential that mineralisation may extend much further along strike from T3 than has been tested to date. Secondly, it supports the potential of several other large conductive anomalies, similar to T-Rex, located within the wider T3 Dome. This is in addition to the many individual AEM targets already planned to be drilled.”

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