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PERTH (miningweekly.com) – MOD Resources, listed on ASX, reported a 13% increase in the indicated resource from its T3 deposit in Botswana, which could support a potential increase in planned design throughput.
MOD on Monday, the reclbadification of the T3 resource shifted the estimate of mineral resources to 417,000 t of copper and 18.6 million ounces of silver, which represents about 70% of the contained copper and 61% of the total mineral resource tonnes
The total mineral resource at T3 remains unchanged at 60 million tonnes, containing 590,000 t of copper and 27 million ounces of gold. silver
MOD MD Julian Hanna told shareholders that the T3 The project team is now looking at how the reclbadification will affect the T3 project.
"This very positive improvement would seem to support a potential increase in the design flow of the planned T3 treatment plant. We also consider that the ore reserve from the feasibility study could significantly exceed the ore reserve used in the pre-feasibility study.
A pre-feasibility study at T3 estimated that the project would require an investment of $ 155 million open pit and plant with a processing capacity of 2.5 million tonnes per year, producing 23,000 t / a copper and 690,000 oz / a silver concentrate.
The study indicated a net present value of $ 281 million. and an annual free cash flow of $ 77 million from the start of production
A T3 pit feasibility study is planned for the first quarter of 2019.
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