29th Apr 2019 14:01
LONDON (Alliance News) - MOD Resources Ltd on Monday reported an "encouraging" set of results following infill drilling at the T3 copper project in Botswana.
Results include 21 metres at 1.5% copper, 30 grams of silver per tonne of ore, and 26 metres at 1.8% copper and 25 grams of silver per tonne.
There was also 11.4 metres at 2.1% copper and 16 grams of silver, and 20.5 metres at 2.2% copper and 44 grams of silver.
Managing Director Julian Hanna said: "This second batch of drill holes from the T3 infill drilling program continues to deliver impressive results. Again, as expected, the infill drill program has successfully intersected wide, high-grade vein-hosted mineralisation whilst providing more clarity around the up-dip extent of mineralisation within the planned Stage 1 and 2 pit shells.
"As the end of the infill drilling program approaches, our understanding and confidence in the ore body continues to strengthen and we expect we will be in a position to upgrade part of the first few years of production into the higher confidence JORC compliant measured resource category."
The announcement was noted by resources investor Metal Tiger PLC, which holds just over 10% of MOD.
MOD shares were untraded Monday, last quoted at 17.10 pence each, while Metal Tiger was 0.5% higher at 1.16p.
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