Ann: Encouraging Results in T3 Extension and Infill Drilling-MOD.AX, page-4

Mate, read it again!

I thought it was a very interesting announcement. They didn't intersect a high grade zone with the belly shot, but that doesn't necessarily mean it's not there. Hopefully they'll be doing downhole EM to get more data. This is what downhole EM can provide: (quote from elsewhere)

"This data not only provides information about the rocks directly intersected by the drill but can shed light on the rocks up to a few hundred meters around the hole, potentially identifying ore zones that were narrowly missed by the drill hole. The data can also be used to tighten up the reliability of 3D geophysical models over the entire area"

As JH highlighted, "the significance of this intersection in MO-T3U-02D is that it confirms the mineralised target sequence which hosts the T3 Cu/Ag deposit continues at a shallow dip well below the current resource".

MOD has previously talked about the mineralisation being tied to the shallow regional thrust and this looks to confirm it further. The key word here is 'regional'. It's not a small, localised feature. Presumably the thrust extends over many kilometres, which is why they are "testing other targets along the T3 dome considered to have potential for "T3-type" discoveries" per their 10 Oct announcement.

Look at the soil anomalies all around T3, and then the proposed drilling plan. Awesome. No coincidence that they've got a >12 km long soil anomaly and are planning a 14 km long drill programme... Then compare the circled target above T3 on today's Fig 2 and see how that matches up with a big soil anomaly too ...

Really glad to see focus on proving up those soil anomalies around T3 - imho the best chance of finding another big deposit. They are definitely serious about proving up the T3 area - my main worry was that they'd flog off T3 before they did this and undervalue it - is this an indication that they have someone interested in T3 and all focus is now on finding out what's there to get a higher price?