MOD mod resources limited

Thanks to bcompton for alerting MOD holders to this article (for...

  1. asf
    9,887 Posts.
    Thanks to bcompton for alerting MOD holders to this article (for members of take a free trial):

    http://tools.afr.com/viewer.aspx?ATL://ba9397a4-4dfe-11e1-a889-e396eb7ad59d§ion=tools

    Annotation of the article:

    * Discovery Metals has shot to prominence for its efforts with the Boseto mine, expected to start production in June, and is also a takeover target. It's also worth keeping an eye on MOD, as DML's neighbour. Both companies will be presenting at the annual Indaba African Mining conference this weekend

    * MOD is close to finishing a 12,000, drilling program at its CornerK prospect in Botswana. Out of 76 holes drilled, 72 have intersected copper/silver mineralisation. Grades of 3.9% copper and 106g/t of silver have been reported.

    * The results have given MOD confidence to commit to a 5500m infill drilling program, which is expected to lead to the announcement of a maiden resource next quarter.

    * DML owns the Gaia prospect, adjacent to, and along strike from CornerK, and DML recently started drilling the ground to prove up enough resources to support an open cut mine.

    * In DML's latest Quarterly, the company said it was waiting on assay data from the 5 holes drilled, but "logging indicates that the holes intercepted copper sulphide mineralisation".

    * If this is the case, MOD will be sharing a new copper/silver find with Discovery Metals.
 
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