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MOD Resources: Extension drilling underway at T3 discovery in Botswana

MOD Resources Ltd. said Oct. 10 that it has started drilling on extensions to the T3 discovery, part of its 70%-owned Botswana joint venture with 30% owner Metal Tiger Plc.

The total all-in cost to discover and drill out T3 is estimated at US$1.7 million, or only 22 cents per pound of copper within the current resource.

In September, a maiden resource estimate at the T3 discovery showed a mineral resource of 28.4 million tonnes at 1.24% copper and 15.7 g/t of silver for 350,000 tonnes of copper and 14.3 million ounces of silver.

Drilling will test the first target, an induced polarization chargeability anomaly, interpreted about 500 meters down dip from the T3 resource.

In addition, the joint venture also plans to conduct step out drilling along the strike of the interpreted T3 Dome during the December quarter.

Exploration is initially expected to concentrate on areas of structural complexity and on soil anomalies considered to have potential for near-surface "T3 type" vein-hosted mineralization.

Deeper drilling is also planned at two other substantial prospects to scope the potential for extensions below the high-grade T1 resource and to follow up elevated platinum/palladium values intersected at the T5 intrusion.

Moreover, the company noted that assays are awaited from five infill holes across the high-grade core of the T3 deposit, while regional soil sampling is ongoing on joint venture licenses in the Ghanzi area.