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MacPhersons Resources Ltd kick-starts trial mining at Boorara Gold Project

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MacPhersons Resources Ltd (ASX:MRP) has commenced trial open pit operations at the Boorara Gold Project in the Eastern Goldfields of Western Australia, as part of a feasibility study.

The aim of the Boorara trial mining operation is to enable accurate resource, mining and milling reconciliations to be undertaken on the deposit.

The Boorara open pit contains total resources of 3 -3.5 million tonnes grading 1.01 g/t gold, estimated to produce 86,000-91,000 ounces of gold over three years from a standalone heap leach.

MacPhersons is currently planning to mine 30,000 tonnes by developing a trial pit to a depth of 20 metres and about 100 metres long at the Southern Stockwork deposit.

The pit is expected to be completed by the end of September.

The ore will be hauled 60 kilometres to the FMR Pty Ltd mill at Coolgardie. The processing of the ore will take about 10-12 days.

MacPhersons is anticipating to produce 1700-1800 ounces of gold from the initial shipment of ore.


Sale of Coolgardie gold assets for $10 million

MacPhersons was in the news last week, when it announced an agreement for the sale of its Coolgardie gold assets to Primary Gold Ltd (ASX:PGO) for $10 million.

The transaction will include $5 million in cash, to be paid over a 12-month period and $5 million comprised of 40 million Primary shares at an issue price of $0.125 per share.

The sale is part of MacPhersons’ plan to focus on its core assets at the Boorara gold and Nimbus silver projects.

The new funds will come in handy as the company is commencing a reverse circulation drill program shortly to test for mineralised extensions below Boorara.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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