MacPhersons Resources Ltd is a Western Australian resource company with a number of advanced gold, silver and zinc exploration projects within close proximity to Kalgoorlie and Coolgardie.
The Company's focus is to develop its Nimbus–Boorara silver-gold-zinc-lead-copper projects comprised of 183 sq km of continuous tenements covering 20 km strike of the Kanowna–Boorara historic silver and gold mining producing domain. The Company also holds 100% interest in 11 km of strikelength of the MacPhersons Reward gold domain, including the namesake MacPhersons Open Cut mine and the northern Kambalda–Nepean Nickel domain.
Less than 20 months after the acquisition, MRP has taken the project from zero resource to 4.9Mt @ 149g/t containing 23.4 million ounces Ag-Eq*. This includes 12.4Moz Ag, 65,000t Zn and credits for Au-Hg. (See 25 July 2013 ASX release for full announcement.)
As announced August 2013 (See announcement) MRP have converted 46% of the resource to the reserve based on a $12/oz cost price for underground mine design.
There is plenty of up side potential, with depth extensions, gold, copper and lead credits still to be added to the mineral resource. There also remains up to another 9 VHMS silver-zinc mineralisation zones on the 183 sqkm of MRP tenements yet to be tested.