MOD Resources hits further encouraging copper intersections

THE DRILL SERGEANT: MOD Resources (ASX: MOD) announced further wide copper/silver intersections encountered within the Phase 1 resource target area currently being drilled at the T3 prospect in the Kalahari Copper Belt, Botswana.

The T3 prospect is part of a Joint Venture between MOD Resources (70%) and AIM-listed Metal Tiger (30%).

“The latest batch of assay results, and reports of visible sulphides from other recent holes in the western part of the resource area are exceeding MOD’s expectations,” MOD Resources managing director Julian Hanna said in the company’s announcement to the Australian Securities Exchange.

“We had assumed this part of the resource consisted mainly of narrow intersections (approx. 6m) of moderate grade copper however this is not the case.”

Intersections of note include:

MO-G-23D
6.3 metres at 1.9 per cent copper and 16 grams per tonne silver from 159m down hole.

MO-G-24D
32.6m at 1.6 per cent copper and 22g/t silver from 146m down hole, including 9m at 2.5 per cent copper and 23g/t silver from 154m down hole, and 8m at 2.2 per cent copper and 52g/t silver from 168m down hole 4.5m at 3.3 per cent copper and 53g/t silver from 184.5m down hole 12m at 0.9 per cent copper and 16g/t silver from 199m down hole

MO-G-25D
45.3m at 2 per cent copper, 36g/t silver and 237g/t molybdenum from 131m down hole, including 30.3m at 2.7 per cent copper, 53g/t silver and 349g/t molybdenum from 146m down hole, and 14.2m at 4.1 per cent copper, 89g/t silver and 686g/t molybdenum from 152m down hole 1m at 9.7 per cent copper, 169g/t silver and 533g/t molybdenum from 183.6m down hole 2m at 3.6 per cent copper and 69g/t silver from 194m down hole 1.5m at 1.8 per cent copper and 35g/t silver from 199.6m down hole.

“Wide intersections in MO-G-24D and MO-G- 25D and previously announced MO-G-20D (20m at 3.2 per cent copper and 77g/t silver from 130m down hole) now appear to extend the central footprint of higher grade mineralisation into the western part of the deposit,” Hanna continued.

“The 12 holes awaiting assay and the remaining resource holes to be drilled may provide further support for this interpretation of a wide, high core extending at least 700m along the deposit, which remains open along strike.

“There are very few exploration projects globally delivering these widths and grades of copper and silver mineralisation that are being consistently intersected at T3.”

MOD explained the majority of T3 diamond drill hole intersections are being drilled near perpendicular to a sequence, which hosts the mineralisation and are therefore interpreted to represent near true width for each intersection.

Results from the ongoing resource drilling will be released as they become available.

Email: administrator@modresources.com.au

Website: www.modresources.com.au