Share Talk excusive to the UK we have MOD Resources Ltd ASX:MOD
Venue: Forest of Arden Marriott Hotel, Maxstoke Lane, Meriden, Birmingham CV7 7HR
Presentations were streamed LIVE on Facebook and Twitter.
ALL net profits from the night are being donated to Bradley Lowery’s Fightfund. Bradley is a 5 year old with Cancer called Neuroblastoma. He needs specialist treatment in USA. Please Donate by text 70070 BRAD02 £1 or visithttp://www.chasethewind.co.uk
MOD’s holdings comprise 25 prospecting licences with a total area of ~11,507km2 in the relatively unexplored central and western Kalahari Copper Belt.
MOD has been an active explorer in the Kalahari Copper belt since 2011 and discovered the ‘Corner K Deposit’, now re-named Mahumo Copper/Silver Deposit in late 2011. The Mahumo deposit was discovered by drilling a soil anomaly along the northern margin of a major >20km wide structural zone (Mahumo Structural Corridor). The Mahumo Stage One resource is currently the highest grade copper resource in the Kalahari Copper Belt and is the basis for an underground mining scoping study. Mahumo remains completely open below the limit of drilling along 2.4km strike length and Stage Two drilling is designed to test for extensions to ~600m depth.
MOD through its subsidiary company MOD Botswana (Pty) Ltd has 100% holdings and various existing joint venture interests in 10 granted prospecting licences with a total area of approximately 3,996km2 in the Kalahari Copper Belt. MOD also owns 70% of Discovery Mines (Proprietary) Ltd (“DMI”) through a subsidiary company Tshukudu Metals Botswana (Pty) Ltd, following the acquisition of DMI announced on 16 December 2015. The 15 licences held under the MOD/MTR joint venture have a total area of approximately 7,511km2in the same area as MOD’s holdings.
London AIM listed company Metal Tiger Plc (MTR: wwww.metaltigerplc.com) owns 30% interest in DMI through its interest in the UK joint venture company Metal Capital Ltd. The business fit between MTR and MOD is strong and both companies are working together to explore and potentially develop opportunities within their extensive holdings in the Kalahari Copper Belt. MTR is primarily focused on undervalued natural resource investment opportunities in which it can provide financial and business support to companies to maximize the value of their interests.
On 25 March 2015, MOD announced a high grade Mineral Resource for Stage One of the Mahumo Copper/Silver Project. The current resource is 2.7Mt @ 2.0% Cu and 50g/t Ag (Table 1). The resource has a copper equivalent grade of approximately 2.5% CuEq which MOD understands is currently the highest announced grade for any copper/silver deposit in Botswana. The resource includes a grade of 50g/t silver (approximately 3 times the average silver grade of other announced resources in the Kalahari Copper Belt).