MOD: A1 Dome Delivers Significant Copper in Initial Drilling

The director of MOD said the results validate the exploration model being used to locate NPF contact mineralization which may form a locally flat lying blanket along this regional geological contact. 

MOD Resources (ASX:MOD) has reported substantial downhole widths of disseminated chalcocite mineralization and high grade Ngwako Pan Formation (NPF) contact mineralization in the initial phase of drilling to test the potential of the large A1 Dome in the Kalahari copper belt in Botswana.

As highlighted in the press release:

  • Six widely spaced drill holes completed at A1 Dome, 22km from T3 copper project
  • Exceptional downhole widths of disseminated copper intersected in two holes at A1 Dome: MO-A1-005D: 130m at 0.52 percent copper and 3.5 grams per tonne (g/t) silver from 590m, MO-A1-006D: 52m at 0.61 percent copper and 4.6 g/t silver from 624m, including 1.4m at 3.8 percent copper and 26 g/t silver on NPF Contact
  • Drilling again confirms model for discovering substantial mineralization within domes

Director of MOD, Julian Hanna said:

“The six hole program intended to scope out the potential along a 4km section of the A1 Dome has been very successful in intersecting significant mineralization over a wide area. While drilling is still at an early stage, the big widths of disseminated copper and high grades intersected on the NPF contact demonstrate the excellent potential of this large structurally complex dome and the regional copper-belt scale opportunity.

The results also validate the exploration model being used to locate NPF contact mineralization which may form a locally flat lying blanket along this regional geological contact. NPF contact mineralization has been intersected in many holes below the vein hosted and disseminated mineralization in the A4 Dome and has now been intersected in the A1 Dome ~25km to the east.”

Drilling at the A1 Dome is now on hold while results are being interpreted and a high level conceptual underground mining study is being undertaken on the potential of the NPF contact.”

Click here to read the full MOD Resources (ASX:MOD) press release.

Petratherm Limited Announces Filing of Early Warning Report Related to the Disposition of Common Shares of Outback Goldfields Corp.

Petratherm Limited (ASX: PTR) (“Petratherm”) announces that it has filed an early warning report (the “Report”) announcing that it has disposed of 33,333,333 common shares (the “Disposed Shares”) of Outback Goldfields Corp. (CSE:OZ) (formerly, Skarb Exploration Corp.) (“Outback Goldfields“). Petratherm acquired the Disposed Shares as consideration for the sale of its gold projects located in Victoria, Australia. Unless permitted under securities legislation, Petratherm must not trade the common shares before April 16, 2021. Following the expiry of this restriction period, Petratherm distributed all of the Disposed Shares in specie to its shareholders effective today. Following the disposition of the Disposed Shares, Petratherm holds nil shares of Outback Goldfields.

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of the Report by Petratherm.

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The announcement can be viewed at:
https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

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