RE: On Bonker's change of name4 Dec 2018 23:09
Pg 59, mod prospectus
"T3 Underground Project (MOD 100 per cent.)
The T3 infill and extension drilling program commenced in August 2017, to test the potential for additional resource extensions both within, and outside the planned T3 open pit mine. Many of the holes announced in the Q4 2017 intersected between two to four shallow dipping high grade veins,
down dip, below and along strike from the planned pit. The same high-grade veins are commonly associated with wide zones of disseminated copper mineralisation within the T3 pit Resource. Further assay results are awaited from vein intersections outside the pit.
South African mining consultants have conducted a preliminary evaluation of the high grade veins to explore the potential for underground mine development concurrent with the planned pit. Conceptual work to date assumes good continuity between the mineralised veins, relatively low
cost in-ore development and room and pillar mining. There could be substantial benefits in developing T3 underground simultaneously with the T3 open pit mine and using shared
infrastructure, including the planned T3 processing plant. The underground potential at T3 has prompted a systematic ~30-hole diamond drilling program to test this potential initially along ~1.5km strike length which commenced in the Q4 2017. A scoping study is planned to be completed in Q4 2018.
In addition to the T3 open pit resource drilling and holes targeting high grade veins outside the pit, several widely spaced holes were deepened to intersect the deeper Ngwako Pan contact mineralisation (NPF contact). This mineralisation comprises generally lower grade disseminated copper sulphides, including chalcocite, within a flat dipping shear zone (potentially a major regional thrust) approximately 300m below the top of the T3 resource.
NPF contact mineralisation is interpreted to occur on the same contact that hosts high grade vein related deposits in the eastern part of the Kalahari Copper Belt including Cupric Canyon’s Zone 5 deposit (~2% TCu), and MOD’s T1 deposit (~2% TCu and 25g/t Ag) 20km northeast of T3. For
this reason, the NPF contact is considered a valid target in areas of regional structural complexity.