https://www.engineeringnews.co.za

MOD earns further interest in Sams Creek

9th October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Junior MOD Resources has increased its shareholding in the Sams Creek gold project, in New Zealand, to 60%, after successfully completing the Stage 2 drilling programme.

Under an earn-in agreement with fellow-listed OceanaGold, MOD was required to complete an infill drilling programme to convert at least 55 000 oz of the one-million-ounce inferred mineral resource into the indicated category, supported by an independent assessment of the mineral resource.

MOD said on Wednesday that the revised Stage 2 mineral resource estimate for Sams Creek included a Joint Ore Reserves Committee-compliant resource of 575 000 oz, based on ten-million tonnes of ore, grading 1.77 g/t gold.

MOD MD Julian Hanna said that the company’s 60% interest in the project had been submitted for consent to New Zealand Petroleum & Minerals, and added that owner OceanaGold had lodged the formal transfer documents.

He added that earning a majority interest in Sams Creek represented one of the most significant milestones for MOD since the company negotiated the agreement in 2011.

“Having earned 60% of Sams Creek, we can now focus our efforts on the Stage 3 drilling programme, which aims to test for extensions down-dip and along strike from the main zone gold deposit,” Hanna said.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.055 1.02s - 140pq - 2rq
Subscribe Now