MacPhersons drilling indicates Nimbus Resource-Reserve update
THE DRILL SERGEANT: MacPhersons Resources (ASX: MRP) announced that recent drilling at the company’s Nimbus silver-zinc-gold project near Kalgoorlie has established continuity of gold mineralisation between a series of planned open pits.
The company said this could lead to an increase in resources and reserves for the project.
Having completed drilling of the gold zone at the Boorara gold deposits within the Nimbus project, MacPhersons has commenced resource modelling for the Bankable Feasibility Study (BFS).
MacPhersons had planned to develop up to seven separate open pits at Boorara, which would provide gold ore for the heap leach operation at Nimbus,however, the latest drilling, which was done as part of the Nimbus Bankable Feasibility Study, intersected mineralisation in the areas between the planned pits.
The company said this mineralisation is expected to have an average grade of about one gram per tonne, which it considers to be in line with the existing reserve grade at Boorara (3.3 million tonnes at 1g/t gold).
The latest results have MacPhersons looking at reducing the number of open pits at
Boorara to just two or three larger and deeper pits.
It now also expects to complete a resource update in the March Quarter of next year, with a reserve update and finalised mine plan to follow early in the June Quarter.
This will then complete all the Boorara-related work needed for the Nimbus BFS.
Drilling is continuing at the Nimbus lenses as part of the BFS, which is due for completion early in the June Quarter next year.
“The drilling programs are aimed at extending the overall project inventory and increasing the existing mine life beyond 5.5 years,” MacPhersons Resources said in its ASX announcement.
“At the Boorara deposits, the latest drilling returned a number of higher-grade intersections (up to 120g/t gold) which were open at depth and along strike.
“The geo-technical diamond drilling was done mainly for the open pit wall design and therefore these holes were drilled outside the mine model.
“However, considerable mineralisation was encountered which will be considered in the new design model.”
Email: info@mrpresources.com.au
Website: www.mrpresources.com.au