MOD to supersize Sams Creek

摘要

MOD Resources Ltd dedicated a large chunk of 2013 to earning a majority interest in the Sams Creek gold project in New Zealand. By completing a stage two drilling programme, MOD upped its stake in the Sams Creek JV with OceanaGold Corp to 60%. MOD has the option to earn an 80% interest in the project at a later date. To take its share to 60% it was required to complete infill drilling and convert more than half of the 1 moz inferred resource to indicated. The company successfully met the target, with Golder Associates estimating Sams Creek now boasts an indicated resource of 575,000oz gold based on 10mt @ 1.77 g/t using a cut-off grade of 0.7 g/t gold.