Reclassification supports potential increase in plant throughput
The indicated resource now contains 417,000 tonnes of copper and 18.6 million ounces of silver at a 0.4% copper cut-off.
This represents 70% of contained copper and 61% of tonnage in the total mineral resource.
MOD’s managing director Julian Hanna said: “This very positive upgrade would appear to support a potential increase in the design throughput of the planned T3 process plant.
“We also consider there is now potential that the feasibility study ore reserve could significantly exceed the ore reserve used in the pre-feasibility study.”
The total mineral resource remains unchanged at 60 million tonnes at 0.98% copper and 14 g/t silver containing 590,000 tonnes of copper and 27 million ounces of silver.
The drill program is testing possible further extensions to the high-grade vein underground potential, as well as extensions along strike outside the T3 expansion case pit design.
MOD is also conducting drilling to explore for similar T3 type deposits at numerous other targets along the T3 Dome complex.
Drilling at the large A4 Dome within the complex has intersected strong visible copper mineralisation.
Other high priority exploration targets at the T20 dome and across the wider project area are being advanced.