2018 is shaping up to big year for emerging base metals explorer MOD Resources which has kicked off a major regional exploration campaign across its licence holdings in the Kalahari Copper Belt in Botswana in the hope of finding another T3-style deposit.
The ASX-listed company holds over 12,600 square kilometres of prospective copper and silver licences at various stages of exploration in the Kalahari Copper Belt.
Drilling during the first half of 2018 is designed to advance three resource projects (T3 Pit, T3 Underground and T1 Underground) and test the district scale potential of four exploration areas (T-Rex, T3 Dome, T20 Dome and T7 Domes).
The exploration campaign follows successful soil sampling programs (around 31,800 samples collected to date) which has resulted in many copper and zinc anomalies scattered along 140km of the ‘Central Structural Corridor’ (CSC), with similar characteristics to the anomaly that lead to the discovery of the T3 deposit.
The potential of the CSC is supported by results from the initial Airborne EM (AEM) survey along the T3 Dome. This identified many targets for drilling expected to start in March.
Importantly, MOD discovered the T1 and T3 copper/silver deposits and the T2 copper/silver prospect by drilling below copper and zinc soil anomalies.
Similarly, T4 was discovered by a previous explorer drilling below a soil anomaly. No other soil anomalies within the CSC have been drilled.
MOD’s managing director Julian Hanna said that in addition to completing the T3 definitive feasibility study in 2018 and moving rapidly towards copper production, the regional exploration opportunity deserves an immediate and comprehensive strategy.
We see potential for other T3-type vein hosted copper deposits, associated with other soil anomalies and AEM targets already identified within our regional licences. At the same time, we will be testing the wider potential for district scale sediment hosted copper mineralisation which may occur in this highly prospective, underexplored copper belt,” said Mr Hanna.
“This coincides with an improved copper price, a leap in understanding of the geology and potential of this copper belt and access to many targets which have been awaiting environmental approval.
“Since the discovery of T3 in March 2016, we have been focused on drilling out the T3 resource completing a scoping study for a 10-year open pit mine and completing the PFS which will be finalised by the end of January,” said Mr Hanna.
“This has required an enormous effort from all the people involved to get T3 to this point in such a short time frame.”
News of the campaign comes after record high grade copper intersection at its 70 per cent-owned T3 copper project of 18m at 4.3 per cent copper and 94 grams per tonne silver from 146 metres.
A T3 resource upgrade is anticipated for later this month.
Shares in MOD were trading 0.1c higher at 5.9c in early Thursday afternoon trade.