T1 UNDERGROUND (MAHUMO PROJECT) (MOD 100%)
Mahumo is located along the northern edge of the ~1,000km2 T3 Expansion Project, approximately 20km northeast of the planned processing plant at T3, and has shown high copper grades and good silver credits. It is considered to have potential as a small scale future underground mine which could produce high-grade ore for the planned T3 processing plant.
In March 2015, MOD announced a shallow high-grade Mineral Resource for Mahumo comprising ~2.7Mt @ 2.0% Cu and 50g/t Ag, however it was concluded that a larger resource would be required before any development could be considered.
A widely spaced drill program was completed in 2018 testing for potential extensions below the existing resource with further drilling awaiting interpretation of the recently completed EM survey, covering the 12km long T1-T2 target zone. This is expected to provide additional structural information planned to be used to target future drilling along the T1-T2 target zone, with particular interest in an area of interpreted folding of the target NPF contact parallel to, and south of T1.
MOD announced on 30 August 2016 an intersection of 5m @ 2.3% Cu and 42g/t Ag in shallow RC drilling at T2 (West) prospect, located on the T1-T2 target zone, on a MOD/MTR joint venture licence 6kms west of the T1 resource. This area is included in the recent EM survey, and further drilling is planned to follow up the encouraging intersection at T2 (West).
(as at 31 December 2016)