MOD Resources announced that it has identified a new zone of mineralization at the Botswana Copper Project where drilling has intersected grades of up to 3.87% copper and 106 grams per tonne silver.
The Botswana copper project covers 8,300 square kilometers on the emerging Kalahari Copper Belt in north western Botswana, Africa. The project is located between Discovery Metals’ Boseto and Hana Mining’s Ghanzi copper and silver discoveries.
Boseto has a Resource of 111.5 million tonnes at 1.4% copper and 17.6 gram per tonne silver as well as a Reserve of 21.8 million tonnes at 1.4% copper and 18.3 gram per tonne silver. It is scheduled to be in production in the H1 of 2012 at an annual rate of 36,000 tonnes of copper and 1 million ounces of silver.
At Ghanzi, Hana Mining has an Indicated Resource of 37.4 million tonnes at 0.93% copper and 13.4 gram per tonne silver for 762 million pounds of copper and 16 million ounces of silver and an Inferred Resource of 423.9 million tonnes at 0.6% copper and 6.27 gram per tonne silver for 5.6 billion pounds of copper and 85.4 million ounces of silver.
The initial results from MOD’s maiden drilling program at Botswana are from the Corner K prospect which the company considers to be 5 kilometers extension of the Gaia copper anomaly identified at Boseto. Discovery Metals has flagged Gaia as a potential target for a second stand alone mine and processing plant.
MOD began its 12,000 meter diamond and reverse circulation program at Corner K in July 2011. Corner K is on the PL686 licence which covers 660 square kilometers and represents a significant exploration target. Drilling at the project is progressing.
Intersections from the drilling included:
1. 4 meters at 1.89% copper and 52.42 gram per tonne silver from 96 meters including 1 meter at 3.87% copper and 90.2 gram per tonne silver;
2. 5 meters at 1.33% copper and 35.7 gram per tonne silver including 1 meter at 2.91% copper and 82.6 gram per tonne silver and
3. 3 meters at 1.82% copper and 63.1 gram per tonne silver including 1 meter at 3.13% copper and 106 gram per tonne silver.
