MacPhersons adds to Nimbus reserve
KALGOORLIE (miningweekly.com) – Metals developer MacPhersons Resources has reported a 60% increase in the underground ore reserve at its Nimbus project, in Western Australia, increasing the silver/zinc/gold project’s reserve to 6.43-million ounces of gold equivalent.
“This is a great outcome for the work that we have been doing recently and is a major step forward in securing a longer mine life at Nimbus,” MacPhersons MD Morrie Goodz said at the Diggers & Dealers conference, in Kalgoorlie, on Wednesday.
Nimbus’ total ore reserve was now estimated at 12.37-million ounces of gold equivalent, with 8.3-million ounces of silver, 44 000 t of zinc and 4 800 oz of gold.
MacPhersons was currently undertaking a bankable feasibility study at the Nimbus project, which Goodz said would be completed later this year. First production at Nimbus has been targeted for late 2015.
“We have demonstrated our ability to continue to grow our ore reserves at Nimbus and we are confident that this represents just the first step in our strategy to extend the mine life well beyond the current five-and-a-half years,” said Goodz.
Earlier this week, the Western Australian Department of Mines and Petroleum cleared the Nimbus project for development.
Previous scoping studies indicated that the project would require a total capital injection of between A$58-million and A$66-million, with all-in cash costs estimated at between A$12/oz and A$16/oz silver and between A$600/oz and A$1 050/oz gold.
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