LICENCE EXTENSIONS GRANTED &
STRONG DRILLING RESULTS AT T3 PROJECT
Two-year licence extensions granted for 10 JV licences
Agreement to acquire two additional licences will increase the JV holdings to
~200km of the prospective structural zone which hosts T3
Three wide intersections at T3 reinforce potential to expand the current
resource:
MO-G-56D: 49.7m @ 1.5% Cu and 33g/t Ag from 129.4m
MO-G-57D: 21.5m @ 1.1% Cu and 9g/t Ag from 201.6m
MO-G-58D: 17.6m @ 1.2% Cu and 16g/t Ag from 208.0m
MO-G-59D: 5.6m @ 1.3% Cu and 4g/t Ag from 133.4m and
19.5m @ 1.0% Cu and 7g/t Ag from 142.5m
Drilling focused on T3 host sequence extending 3km west from proposed pit
MOD Resources Ltd (ASX: MOD) is pleased to announce the Botswana Mines Minister has granted two-year extensions for 10 joint venture (JV) licences, including PLs 189/2008 and 190/2008.
The area covers ~918km2 centred around the Company’s T3 Project and a large part of the highly prospective T3 Dome in the Kalahari Copper Belt, Botswana.
The Department of Mines also approved the transfer of the MOD/Metal Tiger Plc JV licences to Tshukudu Metals Botswana (Pty) Ltd to simplify ownership.
In addition, terms have been agreed with a Botswana company for Tshukudu Metals to enter an option agreement to acquire 100% interest in two additional licences immediately west of Ghanzi. These licences include soil and structural targets and extend coverage of the Mahumo Structural Corridor to the Namibian border (Figure 1). As a result, Tshukudu Metals will hold approximately 200km length of this structural zone with numerous quality targets to be tested over two years.
The Mahumo Structural Corridor is interpreted to host >3Mt copper in announced resources in copper/silver deposits on neighbouring licences held by Cupric Canyon Capital. MOD’s recently announced resource and scoping study for an open pit mine and processing plant at T3, as well as drilling at T1, T2 and T4 and an extensive area of MOD/Metal Tiger JV licences which remain effectively untested, all form part of the Mahumo Structural Corridor.
MOD Managing Director, Mr Julian Hanna, said the licence renewals allow the joint venture to continue extensive exploration along the 50km T3 Dome and several other high priority targets.
“We will now commence the T3 pre-feasibility study with added confidence that the tenure of the licences is secure,” said Mr Hanna. “I would like to thank everyone involved with the licence renewal process for their work and support.”
https://hotcopper.com.au/threads/ann-licence-extensions-granted-and-strong-drilling-results-at-t3.3102485/#.WEn7quRvjmE