Mining News article on MOD Promising MOD copper hit below T3...

Mining News article on MOD

Promising MOD copper hit below T3

BOTSWANA copper explorer MOD Resources has hit a promising zone of mineralisation 35 metres below the T3 deposit that’s the subject of feasibility work.

The 75m of mineralised core is yet to be assayed, and the true width of the zone is unknown.
The timing of the assay results was not provided, while an additional drilling rig has been sent to T3 to accelerate exploration.
MOD is also using “state-of-the-art” 3D IP geophysics to identify potential new sulphide targets within the immediate area of T3 and nearby.
MOD is undertaking feasibility work on the established T3 resource of 28 million tonnes grading 1.24% copper and 15.7 grams per tonne silver, with a four-stage open pit feeding a 2Mt sulphide flotation plant the current plan.
The expectation is construction could begin next year followed by first production in mid-2019.
Annual output could total 22,000t of copper and 665,000oz of silver.
MOD holds a 70% interest in the project with AIM-listed Metal Tiger having the balance.
The ASX company started the year with $A5.5 million cash, with $5.4 million raised in December when new shares priced at 2.9c were issued to investors.
Shares in MOD were up 18% to 4.6c in midday trade, capitalising the company at $74 million.
The stock hit a 12 month high of 5.8c last August, having been at 0.4c 12 months ago.