PERTH (miningweekly.com) – Copper developer MOD Resources has incorporated a lager process plant for its T3 resource, in Botswana, into the project’s feasibility study, following a 44% increase in the project’s resource estimate.
The feasibility study will now be based on a plant throughput rate of 3-million tonnes a year, up from the previously planned 2.5-million tonnes a year, with allowanced for staged future expansion.
MOD told shareholders on Friday that the throughput selection was based on criteria that included the tonnes of indicated category resource, a targeted mine life of at least ten years, and the optimal operational and financial outcome for MOD.
“We’ve had a great deal of interest already in our T3 project, following our debut presentation at the Diggers & Dealers conference this week. We are really pleased to report this increase in the proposed plant capacity following the recent resource upgrade,” said MOD MD Julian Hanna.
“The T3 pit feasibility study remains on schedule for completion by the end of March 2019, and all key technical consultants are now engaged.”
The mineral resource at T3 is estimated at 60-million tonnes, grading 0.98% copper and 14 g/t silver, for 590 000 t of copper and 27-million ounces of silver.
MOD has secured Azure and Terrafranca as joint debt advisors to secure debt financing for the T3 pit project, following a comprehensive evaluation process that included proposals from debt advisory firms based in both the UK and Australia.
The company has also selected Segman as process and infrastructure engineers for the feasibility study.