MOD Resources Limited, the Perth-based resources group, said its assay results from its project in Botswana have produced the highest copper and silver grades received by the company since drilling commenced in July 2011.
In a note, the company revealed the final drilling results from Corner K discovery on the Kalahari Copper Belt include high-grade copper (12.9 percent) and silver (208g/t) assays.
MOD now has all assay results from its maiden 138 hole (19,139m) RC and diamond drilling program at the 100 percent owned Corner K copper-silver discovery.
“All but four of the 138 holes drilled by MOD at Corner K intersected copper silver mineralisation,” said company Chairman, Miles Kennedy.
MOD controls highly prospective exploration license covering ~10, 000 km2 in the Kalahari Copper Belt.
The licenses are accessed through the Trans Kalahari highway between Maun and Gantsi with the licenses strategically located between the Gantsi (Hana Mining) and Boseto (Discovery Metals) copper projects in the Kalahari Copper belt.
In June 2012, the Kalahari Copper Belt became Africa newest silver-copper mining province when Discovery Metals announced its first production of copper-silver concentrate from its Boseto project.
In May this year, Hana Mining announced it will commence a feasibility study at its Gantsi copper-silver project after it released results of Preliminary Economic Assessment.
Kennedy said with the drilling program at Corner K completed, MOD has engaged Snowden Mining Industry Consultants to prepare an independent JORC compliant mineral resource estimate for the copper-silver deposit.
The Maiden resource estimate scheduled to be completed in the September Quarter, the company said.
MOD is also continuing drilling programs at its Sams Creek Gold Project in New Zealand, where the Company has an inferred JORC compliant mineral resource of 1.024Moz, based on 18.65Mt @ 1.71g/t using a 0.7g/t cut-off.
As announced to the ASX on 29 June 2012, recent drilling outside the 1.024Moz resource at Sams Creek has produced surface gold grades of up to 30.9g/t within a broader intersection of [email protected]/t.