MacPhersons Resources Ltd (ASX:MRP) has intersected more gold during ongoing reverse circulation (RC) drilling at its Boorara project, 10 kilometres east of Kalgoorlie in Western Australia.
The results from 14 holes totalling 2,044 metres were taken from the Northern Stockwork deposit as part of a resource expansion program across the project.
Resource development at Boorara is planned to potentially expand the existing gold resource by targeting mineralisation above a vertical depth of 250 metres.
READ: MacPhersons Resources hits high-grade gold in Boorara resource expansion
MacPhersons managing director Jeffrey Williams said: “These results continue to support the evidence of higher grade gold mineralisation outcropping on surface at the eastern contact of the Northern Stockwork deposit.”
Drilling hit an intercept of 17 metres at 4.99 g/t gold, including 1 metre at 47.8 g/t and 1 metre at 19.4 g/t.
The results indicate the mineralised dolerite is likely to extend further north.
Other significant assays include: 6 metres at 4.65 g/t, including 1 metre at 24 g/t; 5 metres at 3.32 g/t, including 1 metre at 12.8 g/t; 6 metres at 2.61 g/t, including 1 metre at 7.62 g/t; and 10 metres at 1.92 g/t, including 1 metre at 13.15 g/t.
Concurrent studies towards DFS
The company has reviewed data from its mineral reconnaissance program and identified further RC drilling targets to the north and west of Northern Stockwork.
Several studies are being undertaken concurrent to RC drilling that will contribute to the definitive feasibility study for Boorara, including metallurgical test work and geotechnical studies.
The company believes its current efforts to increase its understanding of Boorara’s geology will enable future drilling to target high-grade ore shoots at depth and extend mineralisation to the north and west.
MacPhersons is fully-funded to complete current work programs, with $2.1 million cash on hand.