22Jun 2016

MOD ACCELERATES DRILLING PROGRAM AT T3

MOD Resources Limited (ASX: MOD) today announced new assay results with wide zones of 1-2% copper intersections and the identification of a new copper/zinc anomaly at the T3 prospect in the Kalahari Copper Belt, Botswana. T3 is part of a joint venture between MOD Resources (70%) and AIMlisted
Metal Tiger (30%).

21 diamond drill holes have either been completed or are in progress within the Phase 1 resource area. All holes completed to date (MO-G-01D to MO-G-18D) have intersected significant copper mineralisation within the target sequence. A further 13 holes are planned to establish the initial resource estimate.

In addition to the vein hosted and disseminated chalcopyrite mineralisation, high tenor copper sulphides including bornite and covellite have been intersected in veins in many drill holes (Figure 1). Very high individual silver assays (including 199g/t, 244g/t and 363g/t Ag in hole MO-G-09D) are generally associated with very high individual copper assays (including 8.36%, 10.2% and 21.5% Cu in hole MO-G-09D) within veins where assays are available. MO-G-09D is located at the eastern end of the resource area and further drilling is required to determine the extent of these bonanza Cu/Ag veins.

The Company received further soil samples that identified a new 4km long copper/zinc anomaly to the west of the Phase 1 resource area, extending the zone of soil anomalies >12km along the T3 Dome. RC drilling has commenced to test an extensive copper/zinc anomaly approximately 3km east of Phase 1.

Highlights include:

MO-G-07D
7.90m @1.03% Cu & 11g/t Ag from 260.60m downhole
5.60m @1.05% Cu & 21.5g/t Ag from 290.40m downhole
MO-G-08D
41.00m @1.55%Cu & 21g/t Ag from 132.00m downhole, including:
22.00m @2.29%Cu & 29g/t Ag from 141.00m downhole
MO-G-09D
21.61m @1.66%Cu & 24g/t Ag from 165.00m downhole, including:
12.00m @2.31%Cu & 41g/t Ag from 174.00m downhole
3.37m @6.08% Cu & 113g/t Ag from 213.63m downhole, including:
1.37m @13.26%Cu & 244g/t Ag from 213.63m downhole

Launch MOD Drilling Presentation



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