MOD identifies high-grade copper and silver in Botswana

THE DRILL SERGEANT: MOD Resources (ASX: MOD) has carried out a review of previous drilling conducted at the company’s 100 per cent-owned Corner K deposit in Botswana, which it says has identified two long zones over 500 metres of high grade copper sulphide and silver mineralisation at shallow depth.

The company explained the high grade zones (the ‘West Zone’ and ‘East Zone’) were defined by applying a 1.5 per cent copper cut-off to numerous diamond drill hole intersections.

MOD said the new interpretation suggests potential exists for the two zones to be joined below the shallower ‘Central Zone’.

 

Preliminary interpretation of inclined long section of 2.5km long Mahumo
deposit. Shows targets for proposed drilling. Source: Company
announcement

 

The 2.5 kilometre long deposit has been named the Mahumo deposit (meaning ‘riches’ in Botswana) and occurs at the western end of the 4.5km long Corner K mineral resource of approximately 9.5 million tonnes at 1.14 per cent copper equivalent the company announced in September 2012.

Highlights of previous drilling results from the West and East Zones of the Mahumo deposit include:

Copper grades commonly range between 1.5 per cent – 2.5 per cent copper, peaking at 12.9 per cent copper;

Silver grades commonly range between 45 grams per tonne – 70g/t silver, peaking at 208g/t silver;

Silver grades are three to four times the average grade for silver in other resources in region;

High grades associated with hydrothermal quartz/carbonate veining (2-4m wide intersections);

Copper mineralisation occurs as chalcocite and bornite sulphides, rather than copper oxides; and

Mineralisation appears to start immediately below 5-6m of surface Kalahari sand cover.

“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,” MOD Resources managing director Julian Hanna said in the company’s announcement to the Australian Securities Exchange.

The interpreted magnetic core of the intrusion is now high on the list of drilling targets.

“Then in June, recognition of the significance of the high grade copper and silver intersections in the
2.5 kilometre 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 25 kilometres of the copper prospective contact may have been folded into a structurally favourable site.”

Email: administrator@modresources.com.au

Website: www.modresources.com.au