trending Market Intelligence /marketintelligence/en/news-insights/trending/Eb4Tvyf3VuIE53qB6d5MxA2 content esgSubNav
In This List

MOD Resources increases T3 copper-silver reserves 61% ahead of feasibility study


Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion


Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms


Insight Weekly: US stocks hit grim milestone; top European banks tumble; TMT IPOs plunge


Gold and Copper Summit 2022: Overview of Global Gold Markets in 2022 and Beyond

MOD Resources increases T3 copper-silver reserves 61% ahead of feasibility study

Probable reserves at the planned open pit T3 copper mine on MOD Resources Ltd.'s Botswana property grew 61% to 34.4 million tonnes grading 1.0% copper and 13.2 g/t silver for 342,700 tonnes of copper and 14.6 million ounces of silver.

Reserves at T3 can now support a mine life of over 11 years. Mod resources will develop the open pit in six stages alongside a processing plant with an average throughput rate of 3 million tonnes per year.

Contained copper increased 57% and contained silver increased by 107%, the company said March 25. A feasibility study is expected by the end of the month.

The estimate incorporates data from infill and extensional drilling completed within a larger proposed pit shell boundary compared to the January 2018 pre-feasibility study and is based on a resource estimate completed in July 2018.

The pre-feasibility study defined a pretax net present value of A$370 million for the base case scenario, with a 9.6-year mine life.

MOD Resources is working on a 60-hole resource infill drill program within the boundaries of the first two stages of the proposed open pit to upgrade early production material to the higher-confidence measured resource category.

In December 2018, the Botswana government granted the company two-year extensions for all prospecting licenses covering the T3 project.