A critical feasibility study for ASX listed MOD Resources’ T3 Copper project in Botswana is expected to be completed by the end of the first quarter of 2019.
According to Julian Hanna, MD at MOD Resources, who spoke at the Paydirt Africa Down Under (ADU) conference in Australia, T3 is a substantial 590 000t copper resource.
“The T3 Dome Complex covers about 700km² and contains numerous electromagnetic (EM) targets, including at least seven large conductive domes. Those seven EM conductive ‘buried domes’ are now being targeted for drilling,” Hanna said.
T3 will be MOD’s first mine. Discovered in March 2016, T3 announced a recent resource upgrade to 60 million tonnes (Mt), which includes an indicated resource of 36.6Mt at 1.14 (copper) Cu and 16 grams per tonne of gold (g/t Ag).
The looming completion of the feasibility study early in 2019 is expected to lead to a decision to mine in March 2019, with first production targeted for the end of 2020.
MOD has announced key appointments to assist with the development and funding of the initial open pit development of the T3 Copper Project, including Sedgman for Process and Infrastructure engineering, and Azure Capital and Terrafranca Advisory as joint debt advisers.
Hanna said that the company and its joint venture partner, Metal Tiger, are the largest licence holders and copper explorers in Botswana and that the exploration breakthroughs it had made with the discovery of the substantial T3 deposit will open the door for an expansion of its exploration activities in the country.