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MODERN MINING
October 2016
MINING News
ASX-listed MOD Resources has com-
pleted a substantial maiden copper/silver
resource at its T3 deposit within six months
of discovery. T3 forms part of a joint ven-
ture between MOD Resources (70 %)
and AIM-listed Metal Tiger (30 %) in the
Kalahari Copperbelt of Botswana.
Combined indicated and inferred
resources using a 0,5 % Cu cut-off consist
of 28,36 Mt at 1,24 % Cu and 15,7 g/t Ag,
containing approximately 350 200 tonnes
Cu (772 Mlb copper) and 14,27 Moz Ag.
This includes a high-grade resource using
a 1,5 % Cu cut-off grade which consists of
8,48 Mt at 2,16 % Cu and 30,6 g/t Ag, con-
taining approximately 182 900 tonnes Cu
and 8,34 Moz Ag.
Importantly, 64 % of the total resource
tonnes are in the indicated resource
category demonstrating the excellent
continuity of the mineralisation drilled on
a 100 m by 100 m grid pattern.
MOD Resources’ Managing Director,
Julian Hanna, said the maiden resource
represented a tremendous milestone for
the joint venture and a major step towards
MOD’s objective of becoming a long-life,
copper producer in Botswana.
“To be able to report 350 000 tonnes of
contained copper and more than 14 mil-
lion ounces of silver in the first resource
from a new discovery in a relatively unex-
plored region is a great achievement for
the whole team,” said Hanna.
“The unusual geometry of the T3
deposit with wide and continuous zones
MOD announces substantial maiden resource at T3
A drill site at the T3 deposit (photo: Nick O’Reilly, QP for
Metal Tiger).
of shallow dipping mineralisation provides
the opportunity for potential low cost
open-pit mining. An additional bonus is
the large amount of silver (>14 Moz) which
is expected to be able to be recovered into
the copper concentrate, assuming the
project goes into commercial production.
“Success at T3 has been achieved in a
short time frame and to a very high stan-
dard – a credit to all the people on-site,
including our many Botswana employees
and contractors who have worked hard to
achieve this excellent result,” Hanna said
MOD’s open-pit scoping study is pro-
gressing well with a separate, highly
experienced team to manage all facets of
the process.
Drilling is currently testing for potential
extensions to high-grade veins north-east
of the resource and targeting an IP target
approximately 500 m down dip from the
resource. Exploration will also step out
along the T3 Dome and surrounding areas
to test potential for other deposits of this
type.
The copper and silver mineralisation
which is the basis for the T3 Phase One
mineral resource is interpreted by MOD to
be a Proterozoic or early Palaeozoic age,
vein-related sediment-hosted deposit
which is different to other known depos-
its and mines in the central Kalahari
Copperbelt in Botswana.
The mineral resource has been defined
along a 1,4 km long strike length at T3 and
the copper and silver sulphide mineralisa-
tion occurs in veins and disseminations
within mudstone, siltstone, sandstone and
marls as host rocks. The resource occurs
in sediments and veins considered part
of the D’Kar Formation. The footwall to
the resource is generally defined by lower
grade disseminated Pb and Zn mineralisa-
tion within the host rocks, still considered
part of the D’Kar Formation.
Mineralisation is very continuous
at the T3 deposit and is dominated by
mainly chalcopyrite with chalcocite and
bornite copper sulphides occurring in
lesser amounts. Mineralisation extends
from shallow depth (approximately 35 m
depth) to the limit of drilling at approxi-
mately 274 m depth. Minor malachite and
chrysocolla oxide mineralisation occurs
near surface between approximately 10
and 25 m depth.
DRA Group appoints Chief Executive Officer
DRA Group Holdings has
announced the appoint-
ment of Wray Carvelas
(left) as CEO, with imme-
diate effect.
Tim Netscher,
Chairman of DRA,
s a y s t h a t t h e
DRA board went
through an extensive recruitment process
interviewing high calibre internal and
external candidates.
“Wray was the outstanding candidate
for the role,” says Netscher. “This is evident
in his considerable experience in both busi-
ness and engineering, with a strong track
record of success throughout his career.”
Carvelas has been with DRA for 15 years,
having joined the company in 2001. He pre-
viously held the role of Projects Director and
was appointed as CEO of DRA’s Americas
operations in 2011. He holds an MBA cum
laude from the University of Stellenbosch.
“In addition to his impressive career,
Wray also embodies DRA’s values with his
unwavering conviction and commitment,”
Netscher says.
Carvelas replaces Andrew Naudé who
acted as interim CEO from May 2016, in
addition to his role as Chief Financial Officer
and Strategy Director.
“We thank Andrew for his excellent
leadership over the last few months,”
says Netscher. “Together with the Global
Executive Committee, he has ensured that
our organisation continued to move for-
ward both strategically and operationally.”
Naudé will continue to work with
Carvelas and the DRA Group Executive
Committee in the next few months to
ensure a smooth transition.
Carvelas assumed the role as Group CEO
on 1 October 2016 and he will officially be
appointed to the DRA Board in November
2016. He will be embarking on a global
roadshow over the coming weeks to for-
mally introduce himself to DRA’s teams and
clients in all regions.