Macphersons Resources increases tenement holdings

THE BOURSE WHISPERER: MacPhersons Resources (ASX: MRP) has agreed to the the acquisition of additional tenements adjacent to the company’s 100 per cent-owned Nimbus and Boorara tenements.

The tenements are situated along the Boorara – Kanowna and Mount Monger shear zones, which MacPhersons indicated are host to gold, silver and base metal deposits.

The land holdings also correspond with the proposed infrastructure site for the new expanded Nimbus IWL and the site for a second possible cell expansion.

 

New tenement acquisitions in blue. Source: Company announcement

 

The company said it was happy to have acquired these tenements adjacent to, and strike extensions along from its Nimbus silver-zinc-gold operations, and their Boorara gold project, which it considers to further consolidate its position.

“The acquisition of these tenements provides the company with the required land space for the proposed Nimbus silver-gold-zinc plant expansion to the north of TSF3” MacPhersons Resources managing director Morrie Goodz said in the company’s announcement to the Australian Securities Exchange.

“With these tenements, we also acquire additional high level gold and base metal targets close to our existing Nimbus site.

“Finalisation of the plant and infrastructure layout will follow the completion of the open pit and underground mine design later this month.”

The acquisition follows on from a Farm-In Agreement MacPhersons completed last month with Jabiru Metals, a subsidiary of Independence Group NL (ASX: IGO).

Under that agreement MacPhersons will earn a 70 per cent interest in the Jabiru tenements, with the right to move to full ownership or enter into a joint venture at the end of the farm-in period.

MacPhersons has increased its Nimbus-Boorara land position by 23 per cent in the past month.