PERTH (miningweekly.com) – ASX- and LSE-listed MOD Resources has reported a 61% increase in the openpit reserve at its T3 copper project, in Botswana.
The openpit reserve is now estimated at 34.4-million tonnes, grading 1% copper and 13.2 g/t silver, for 342 700 t of copper and 14.6-million ounces of silver.
MOD MD Julian Hanna said on Monday that with the increase in the size of the ore reserve, MOD has continued to improve on the already strong fundamentals identified within the T3 prefeasibility study.
“The increase in the T3 openpit ore reserve is significant for MOD, our supportive shareholder and people in the Ghanzi district. The proposed six-stage openpit mine and the three-million-tonne-a-year conventional processing plant is expected to produce high-margin, high-quality copper concentrates for more than 11 years. This should generate strong returns for investors and provide potential to create increased employment opportunities and generate significant benefits for Botswana and the local communities,” Hanna said.
The ore reserve update is part of the feasibility study, which is nearing completion.