EXPLORATION & DEVELOPMENT

MOD, Metal Tiger move closer to revised T3 openpit resource estimate

T3 underground resource estimate also in the works

Staff reporter
A revised mineral resource estimate for T3 openpit project in Botswana is expected in June

A revised mineral resource estimate for T3 openpit project in Botswana is expected in June

The aim of the drilling was to convert the current inferred resources to the indicated and measured resource category and extend the total mineral resource to support the January prefeasibility study's expansion case.

The partners have received assay results for all holes to be included in the revised mineral resources estimate, with 70%-owner MOD noting that all results received so far were in line with expectations.

The highlighted intercepts within the base case pit included 35m at 2% copper and 34g/t silver from 102m, and 16m at 1.1% Cu and 10g/t Ag from 76m.

Below the expansion case pit, intercepts included 31.9m at 1% Cu and 9g/t Ag from 183m, and 13.8m at 2.3% Cu and 60g/t Ag from 248m, while holes outside the pit intercepted 11.5m at 1.8% Cu and 36g/t Ag from 243m, and 6.2m at 1.9% Cu and 40g/t Ag from 268m.

The companies have started an eight-hole geotechnical drilling programme for the expansion case pit, with sterilisation drilling also underway below the planned T3 plant site and other infrastructure.

MOD said three diamond rigs were being used to expedite the programmes, as they were important for the ongoing T3 pit feasibility study.

At the underground portion of the T3 project, about 50 holes were completed, with the continuity of two high-grade veins demonstrated along the 1,500m strike length, the partners said.

Metal Tiger CEO Michael McNeilly said the completion of the 50 holes in the T3 underground resource extension drilling programme would soon enable the JV to start estimating a T3 underground resource.

A major drilling campaign had also started at the T3 dome complex to test EM targets.

Meanwhile, at MOD's 100%-owned T1 (Mahumo) underground project, 20km north-east of T3, the company was carrying out a resource extension programme.

T1's preliminary resource was 2.7 million tonnes at 2% copper and 50g/t silver.

It said it was drilling on 200m-spaced sections below the 2.4km-long resource, with two diamond rigs at the western part of the deposit.

MOD said it had completed seven out of the 20 drill holes planned, with most intersecting visible copper mineralisation on the prospective NPF contact, which was "encouraging". It was still waiting for assays for all seven drill holes.

MOD's shares were up 2.08% Friday at A5c (US4c), while Metal Tiger was down 3.19% to 2.27p (US3c).

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.