PERTH (miningweekly.com) – Copper explorer MOD Resources has reported a 44% increase in the T3 mineral resource, in Botswana, following recent exploration at the planned pit.
The mineral resource at T3 is now 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 MD Julian Hanna said on Monday that the revised resource had far exceeded expectations, and as a result, MOD’s project development team was now reviewing how the expanded resource could impact the T3 project.
“As a minimum, this upgrade would appear to support the compelling expansion case pit model announced in the prefeasibility study, which is based on average production of 28 000 t/y of copper over a 12 year mine life.
“We are very encouraged by the new resource and believe there is potential that production and mine life could be extended beyond the expansion case,” Hanna said.
He added that the new resource also provided confidence in the potential for significant discoveries that could exist in similar ‘buried domes’ within the T3 Dome complex, where a major drilling campaign is under way.
The T3 project forms part of a joint venture with Aim-listed Metal Tiger.
A feasibility study for the T3 project is due for completion at the end of the first quarter in 2019.