Sams Creek?, page-5

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BrassTacks1

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09/05/17

13:13

Post #: 24568752
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Originally posted by Adamcz ↑

Wasn't very informative.. Managed to track a copy down

I was more interested in the comment
"During the quarter, MOD advanced discussions with a potential acquirer of MOD's interest in Sams Creek. An updated on a potential transaction is expected to be announced during the June quarter"

5/5/2017 — Gold
MOD ponders high grade zones at Sams Creek

MOD Resources Ltd (ASX: MOD) may still have the Sams Creek gold project near Takaka on New Zealand’s South Island on ice, but it is still pondering the potential for selective underground mining.
The company, which owns Sams Creek 80% in partnership with original owner OceanaGold Corporation (TSX & ASX: OGC), halted exploration more than two years ago as a result of its then tight capital position and the growing focus on its copper-silver deposits in the Kalahari Copper Belt of Botswana.
The brief reference to Sams Creek in the March quarter report highlighted that in September, 2015 the company highlighted a review of high grade mineralisation within the high-country deposit that showed high grade mineralisation at a 2 grams/tonne gold cut0off grade. This was based on 58 drill hole intersections within the resource which embraces an estimate of slightly more than 1 million oz.
“Gold mineralisation at Sams Creek is contained within a porphyry dyke up to 35 metres wide in the Main Zone deposit.
“The dyke can be traced 6 km along strike within the Sams Creek permit and extends into the 100% owned Barrons Flat permit area, which directly adjoins Sams Creek.
“It should be noted that the Sams Creek porphyry dyke does not always contain gold mineralisation,” MOD added.
The company has had whole or part of its equity for sale for more than a year.
The prime focus of the quarter report was the T3 prospect held 70% by MOD with the balance held by London-listed Metal Tiger plc

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@Adamcz Thanks and well done for tracking that down. Looking forward to that expected update in the 'June quarter'

MOD Price at posting: 5.6¢ Sentiment: Hold Disclosure: Held
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Sams Creek?, page-5

Top Stories

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