MacPhersons adds more ounces at Nimbus-Boorara

THE DRILL SERGEANT: MacPhersons Resources (ASX: MRP) has increased the Boorara deposit at the company’s Nimbus-Boorara silver-gold-zinc project near Kalgoorlie by 47 per cent, taking it to 10.8 million tonnes at one gram per tonne gold for 340,000 ounces of gold.

MacPhersons said the expanded JORC Mineral Resource, calculated by independent consultants, CSA Global, has delivered a higher level of measured and indicated resource (74 per cent).

The new numbers have increased the company’s confidence that the Boorara tonnes will convert to mining inventory and further extend the forecast life of Boorara as it should provide further ore for the heap leach portion of the overall Nimbus-Boorara project.

MacPhersons indicated it is on schedule to deliver the Definitive Feasibility Study (DFS) on Nimbus-Boorara by June this year, which it believes will ensure it remains on schedule to commission the project in the December Quarter, 2016.

MacPhersons is also awaiting the Nimbus Mineral Resource Estimate currently being put together by CSA Global.

MacPhersons expects this estimate will result in an increased inventory and an extension to the project’s current 5.5-year mine life when it is released in April this year.

“This Resource increase at Boorara justifies our confidence in our ability to grow the project’s inventory and mine life,” MacPhersons Resources managing director Morrie Goodz said in the company’s announcement to the Australian Securities Exchange.

“In parallel with this highly successful exploration program, we are continuing to reduce costs while ensuring that we remain on schedule for commissioning late next year.”

Email: info@mrpresources.com.au

Website: www.mrpresources.com.au