MacPhersons Resources Ltd. (ASX:MRP) announced that the preliminary findings of a bankable feasibility study (BFS) on its Nimbus-Boorara silver-gold-zinc project show that capital and operating costs should be “significantly lower” than those recorded in the project’s prefeasibility study.
The BFS is set to be complete in 2014′s September quarter.
Other highlights include:
- Lower all-in sustaining costs likely to result in reduced cut-off grades, in turn increasing reserves and growing mine life
- Lower costs also expected to help underpin further conversion of resources to reserves
- Deep drilling has intersected strike and depth extensions of known mineralisation
- Drilling has also intersected new zones of mineralisation
- Sulphide mineralisation intersected at twice the depth of the existing reserve blocks
- Upgraded JORC-compliant reserve-resource estimate being compiled
- BFS on track for completion in September Quarter, 2014