MacPhersons extends mineralisation beyond Nimbus pit design

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THE DRILL SERGEANT: MacPhersons Resources (ASX: MRP) has intersected silver-zinc-gold mineralisation outside the planned stoping designs while drilling at the company’s Nimbus project near Kalgoorlie.

MacPhersons said the results could lead to an increase in resources and reserves for the project.

MacPhersons completed the drilling in October and subsequently commenced resource modelling of the Boorara gold zones to complete the inputs for a Feasibility Study (BFS).

The company has since focused drilling extensions of the silver-zinc-gold lenses at Nimbus.

 

Nimbus silver-zinc-gold mine located 10km east of the Kalgoorlie Super
Pit showing the current drilling program focused on adding additional
extensions to the existing mine design. Source: Company announcement

 

Receipt of preliminary assay results on the Nimbus depth and strike extensional drilling have so far returned:

7 metres at 1472 grams per tonne silver equivalent (Ag-Eq) in NBRC145 from 216m depth with interval averages of 755g/t silver and 21 per cent zinc;

NBRC151
10m at 852g/t Ag-Eq from 206m depth with interval averages of 542g/t silver and 8.3 per cent zinc;

NBRC153
14m at 280g/t Ag-Eq from 96m depth with interval averages of 258g/t silver;

NBRC157
8m at 518g/t Ag-Eq from 70m depth with interval averages of 326g/t silver and 3.05g/t gold; and

NBRC157
1m at 1057g/t Ag-Eq from 89m depth with interval averages of 761g/t silver and 6.58 g/t gold.

MacPhersons indicated the drilling at Nimbus will continue for the duration of the December Quarter, in the meantime the final diamond drillhole samples from Boorara are in the process of sampling for a variability study to be used for final metallurgical signoff on the gold zones.

This testwork will also be completed to BFS level.

“The results continue to support additional mineralisation which will add to the resource and reserve updates and form the final input into the feasibility studies due for completion in Q2 2015,” MacPhersons resources managing director Morrie Goodz said in the company’s announcement to the Australian Securities Exchange.

“We continue to identify that the upside at Nimbus is substantial and therefore we remain highly confident that the mine life could be extended significantly beyond the current five-and-a-half-year plan.

“The recent drilling has emphasised that gold-bearing intersections will continue to deliver additional value to the silver-zinc mineralisation as evidenced by the NBRC157 intersections up to 6.5g/t gold.

MacPhersons remains confident the overall project economics of the Nimbus project remain robust despite the metal prices identifying the falling value of the Australian dollar continuing to offset lower US dollar commodity prices as a factor.

The company said the growing the Nimbus inventory sufficiently to extend the project’s forecast mine life beyond 5.5 years, along with reductions in mining and processing costs, would in turn deliver significant benefits to the project’s overall economics.

Email: info@mrpresources.com.au

Website: www.mrpresources.com.au