Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • MacPhersons Resources Notches Maiden Gold Resource Of 258,000oz At Boorara Project 0 comments
    Aug 6, 2013 9:55 PM

    MacPhersons Resources (ASX: MRP) has estimated a maiden JORC Resource of 7.37 million tonnes at 1.09 grams per tonne for 258,000 ounces of contained gold at its Boorara Gold Project near Kalgoorlie, Western Australia.

    Notably, this effectively doubles the available sources of feed material to the company's Nimbus mill located just 2 kilometres away by increasing its total gold resource up to 504,000 ounces.

    Blessed with existing regional infrastructure, Boorara Gold Project is located between 1000 metres and 1700 metres southwest of the company's Nimbus Silver-Zinc-Gold Project which is proximal to Kalgoorlie's Super Pit gold mine.

    The maiden resource is a 170% increase to the August 2012 estimate based on historical drilling while 950,000 tonnes at 1.3g/t gold of the resource would be available for processing through the Nimbus mill.

    The Resource consists of 40,000 ounces in the Measured category, 125,000 ounces in the Indicated and 95,000 ounces in the Inferred categories.

    "The Boorara resource has met and exceeded our expectations," managing director Morrie Goodz said.

    "The geological model is very robust and analogous to the dolerite-hosted Mt Charlotte gold mine, at Kalgoorlie."

    Preliminary mine design program for Boorara is underway while a heap leach study is underway to process 3.1 million tonnes at 0.94g/t gold through the Nimbus mill.

    Boorara remains open at depth and along strike and is relatively untested below the 70 metre depth.


    The wholly-owned Boorara Gold Project is located between 1 kilometre and 1.7 kilometres southwest of the wholly-owned Nimbus Silver-Zinc-Gold Project that is located 10 kilometres east of Kalgoorlie's Super Pit gold mine.

    MacPhersons had based the maiden Resource on a due diligence 10 hole diamond drilling program completed in June 2013.

    This due diligence review was completed in July 201the model and a re-interpretation of the geological model and resource was completed in August 2013.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.