Nimbus Silver Zinc Gold Targets
- Less than 20 months after the acquisition, MRP took the project from zero resource to 4.9Mt @ 149g/t containing 23.4 million ounces Ag-Eq* (December 2013); and on 30 April 2015 MRP announced Nimbus increased mineral resource of 12.1 million tonnes at 52 g/t silver, 0.2g/t gold and 0.9% zinc containing 20.2 million ounces of silver, 78,000oz of gold and 104,000 tonnes of zinc. (See 30 April 2015 ASX release for full announcement.) This represents increase of 58% in silver, 60% increase in zinc and 66% in gold. The Nimbus resources are in addition to the 340,000 ozs of gold located at Boorara deposit 1km southwest of Nimbus.
- High level of confidence with 83% of silver and 72% of zinc now in the measured and indicated resource categories.
- High level of confidence with 74% of gold now in the measured and indicated resource categories at Boorara.
- The cost of discovering these ounces has been just ~30c/oz of silver, which reflects the quality of the Nimbus deposit and the MacPhersons geology team.
- The resources have been subdivided into silver-zinc, silver-only, silver-gold, gold-only and zinc-only lodes. Metallurgical testwork has been commenced on the individual lode types.
- Existing silver and gold plant are currently being expanded, refurbished and modified. Feasibility studies released with full capital repayment scheduled during year 2-3 of mine production.
- Primary zinc-copper-lead-silver at depth to 370 metres up to 20m thick VHMS breccia with HGZ >20% Zinc, >1500g/t Silver, and >5% Lead over 2-3m core width; copper grades up to 6%.
- Drilling program and resource studies including Nimbus Deep drilling intersected new Zinc-Silver stringers with confirmed silver enrichment via spot XRF 20% Zinc, 1500g/t Silver. New vent indicated.
- Further extensions are open along strike and at depth, both within and beyond the current Nimbus pit shell design. Offering great opportunity for resource growth as the current model is calculated only to depth of 260m, whereas current drilling has now extended the mineralisation to 370m.
- Two new open pit cutbacks have been proposed for the Nimbus Silver operations, to be followed by underground mining operation.
- Together with Boorara Projects gives 205 km² of continuous tenements highly prospective for silver, gold, zinc, copper and lead.
In April 2015, MRP announced upgraded Measured, Indicated and Inferred JORC classified Mineral Resource Statement. Click here for the Resource Inventory.
To fast track the opportunity to process MacPhersons ore within the MRP business, the Company acquired mill processing and mine assets at the Nimbus Silver Mine, located 10 km from Kalgoorlie. The assets come with an approved site for metallic and non-metallic ore processing and an approved tailings storage facility.
To complement the Nimbus mill and mine assets, MRP has also completed the acquisition of an additional ball mill, the Mt Eden primary crusher facility and excess CIL leach tanks from Tarmoola to provide significant components to allow for the expansion of the Nimbus silver mill to include a 480,000 tonnes per annum gold circuit.
The assets have advanced exploration targets on the silver deposits below two existing open cuts (recently produced 3.6 million ounces of silver) and with polymetallic deposits carrying zinc - silver - lead mineralisation with zones of anomalous gold and copper values.