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JOHANNESBURG (miningweekly.com) – Botswana was largely neglected in global mining majors' continued search for more copper, ASX-listed MOD Resources MD Julian Hanna said this week.
The landlocked Southern African country remained relatively unexplored, particularly the 700 km Kalahari copperbelt, which was a “well-endowed metal province” with significant sediment-hosted copper/silver deposits.
In a media statement, on Friday, Hanna noted that, as a result of recent developments in the copperbelt, MOD believed the potential of the well-mineralised region was only starting to be realised.
MOD Resources was the second-largest tenement holder in the Kalahari copperbelt, and its Botswana copper project comprised a “vast and strategically located” area in the centre of the province.
“MOD has 80% to 100% interests in more than 7 500 km2 of granted licences, so we are well positioned to make new discoveries,” he said, pointing to a recent raising of $2-million to embark on infill and extension drilling programmes and a conceptual mining study at its 100%-owned Mahumo copper/silver project, also in the Kalahari copperbelt.
“Our team has now identified high-grade copper and silver mineralisation at Mahumo, in addition to a number of other exciting targets, and now has funding and a well-defined strategy to test this potential,” he concluded.