Nimbus Silver Gold Zinc Copper Lead Targets
- Confirmed one Silver Superpit at 1.5Mt @ 179g/t Ag-Eq* (137g/t Ag + Au & Zn credits). (see full detail in 5 February 2013 announcement)
- Less than 15 months after the acquisition, MRP has taken the project from zero resource to 4.4Mt @ 129g/t containing 18.3 million ounces Ag-Eq*. This includes 11.7Moz Ag, 49,000t Zn and credits for Au-Hg-Cu-Pb. (See 15 January 2013 ASX release for full announcement.)
- 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%
- Existing silver and gold plant will be expanded and modified to a 480,000 tpa plant in the first stage.
- Drilling program and resource studies ongoing
- Together with Boorara Projects gives 120 sq km of continuous tenements highly prospective for silver, gold, zinc, copper and lead
In January 2013, MRP anounced upgraded Measured, Indicated and Inferred JORC classified Mineral Resource Statement. (see full detail in 15 January 2013 announcement)
| Category | Tonnes | Ag (g/t) | Ag-Eq (g/t) | Ag (oz) | Ag-Eq (oz) |
|---|---|---|---|---|---|
| Silver Zone | |||||
| Measured | 660,000 | 125 | 195 | 2.7M | 4.1M |
| Indicated | 2,885,000 | 92 | 135 | 8.5M | 12.5M |
| Gold Zone | |||||
| Inferred | 870,000 | 19 | 62 | 0.5M | 1.7M |
| Total | 4,415,000 | 129 | 11.7Moz also containing 49,000t Zinc; 33,000oz Gold | 18.3Moz | |
Background
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.