THE BOURSE WHISPERER: MacPhersons Resources has released the maiden JORC-compliant mineral resource statement at the company’s 100 per cent-owned Nimbus silver-zinc project.
The Nimbus project is located eight kilometres east of Kalgoorlie’s SuperPit gold mine.
Nimbus tenement location plan, 8km east of the Kalgoorlie SuperPit. Source: Company announcement
The maiden Inferred Resource includes:
– 2,130,000 tonnes at 125 grams per tonne silver for 8,555,400 ounces silver; and
– 2,130,000 tonnes at 1.32 per cent zinc for 28,100 tonnes zinc.
MacPhersons said the maiden resource statement relates only to the Nimbus discovery and East deposits.
It does not include any other silver-zinc deposits occurring across the company’s tenements.
The statement also excludes the assessment of gold, lead, copper and other metals in the resource blocks.
Silver and other metals in the tailings and stockpiles currently under assessment have not been included either.
“The Directors are pleased with the maiden resource of 8.6 million ounces of silver and 28,000 tonnes of zinc, and the potential for resource growth from the various additional unclassified mineralisation zones currently being drilled,” MacPhersons Resources said in its ASX announcement.
MacPhersons said the resource blocks start immediately from outcropping mineralisation and have been modelled to only 260m below surface.
This is despite the mineralisation remaining open at depth and having been intersected at deeper than 300m.
At 125g/t silver, MacPhersons said the resource is considered high-grade, however the company also pointed out the existence of further zones of much higher grade.
“A number of historical and current 2011-2012 diamond drillholes have intersections exceeding 2000 grams per tonne silver; however a top cut of 2000 grams per tonne was applied to the primary mineralisation,” the company said.
MacPhersons recently acquired approximately 125 square kilometres of tenements at Kalgoorlie, making the company one of the largest tenement holdings, after the Barrick – Newmont Joint Venture (KCGM), within 10km of Kalgoorlie.