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EXPLORATION

New high grade silver/zinc hits on Kalgoorlie's doorstep

Junior explorer McPhersons Resources is hoping to exploit the strong silver price to develop a mine on the southern doorstep to Australia's historic gold mining capital of Kalgoorlie.

Author: Ross Louthean
Posted: Thursday , 12 Apr 2012

PERTH - 

MacPhersons Resources Ltd (ASX: MRP) today detailed a bonanza grade silver drilling hit on its fully owned Nimbus silver-zinc project to help confirm the existence of massive sulphide and disseminated silver-zinc mineralisation around the emerging high grade VHMS deposits.

A drill hole beyond the known resource beneath an old pit intersected 56.8 metres grading 105 grams/tonne silver from a depth of 159m. This included 6.1m @ 354 g/t Ag, 11.8 % zinc and 1.33% lead and another hit of 3m @ 316 g/t Ag and 3.1% Zn.

Managing director Morrie Goodz said this drill hole showed the presence of a new deeper massive sulphide lens under the East pit from a depth of 161m.

He said drilling has also been completed on the East Pit tailings deposit and a JORC classification was now underway.

The company has reported a series of high-grade polymetalic mineralisation from recent work at Nimbus and these included downhole thicknesses of 17.4m thickness grading 860 g/t Ag, 16.6% Zn, 3.5% Pb and 0.3 g/t gold and a 7m central zone gave assays of 1,680 g/t Ag, 31.1% Zn and 6.9% Pb.

In mid-March Macphersons detailed a maiden inferred resource of 2.13 million tonnes grading 125 g/t silver for 8.555 M oz, and 1.32% Zn for 28,100t of metal.

The original Nimbus mine operated from 2003-07 and produced 3.6 M oz silver at an average grade of 352 g/t Ag.

The company also holds the Macphersons Reward gold mine and other gold leases in the historic Coolgardie field but results from Nimbus has seen a stronger focus on ground south of Kalgoorlie.

 

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10 May 2013


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