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  • MacPhersons starts trial mining at Boorara 2016-09-07
    Trial mining at the Boorara gold mine, in Western Australia, has started, with owner MacPhersons Resources announcing plans to develop a 20 m openpit Some 30 000 t of ore would be hauled to a nearby mill, and processing was expected to take between 10 and 12 days.
  • MacPhersons Resources Ltd kick-starts trial mining at Boorara Gold Project 2016-09-07

    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.

  • Cannon performs better than expected 2016-09-06
    The Cannon gold project, in Western Australia, is delivering above expectations, with the project’s net profit guidance increasing from A$14.9-million to A$17.2-million on the back of higher-than-budgeted metallurgical recovery rates and a revised ore block model. ASX-listed Southern Gold, which holds a 50% interest in the project, reported on Tuesday that the revised base case at Cannon had resulted in an improved overall gold recovered estimate, lower operational costs on a per-ounce basis, and higher net cash generation.
  • ASX: Cannon Drilling Results 2016-07-21
  • ASX: SAU: Excellent Recovery From 3rd Processing Campaign 2016-07-04

Related News

  • Xtract raises funds to revive Mozambique mine 2016-11-03
    Xtract Resources has entered into a £980 000 subscription agreement with YA II EQ to provide additional working capital to further develop its Manica gold mine, in Mozambique. Xtract chairperson Colin Bird reiterated that the company was now solely focused on its Manica project after having stopped investing in the Chepica gold/copper mine, in Chile.
  • Pasinex Resources Announces High Grade DSO Sulphide Mineral Sale from the 50% owned Pinargozu Zn Mine 2016-11-03

    TORONTO, ONTARIO--(Marketwired - Nov. 3, 2016) - Pasinex Resources Limited (CSE:PSE)(CSE:PSE.CN)(FRANKFURT:PNX) (the "Company" or "Pasinex") today announced its first sale of direct shipping (DSO) high-grade zinc sulphide material from its 50%-owned Pinargozu zinc mine in Turkey. The joint venture company Horzum AS reported a sale of 991 tonnes averaging 46.82% Zn. The approximate value of the product realized was over US$700 per tonne.

  • Eastmain Resources Reports Initial Drilling and Channel Sampling Results for Eleonore South, James Bay Region, Quebec 2016-11-03

    TORONTO, ONTARIO--(Marketwired - Nov. 3, 2016) - Eastmain Resources Inc. ("Eastmain" or the "Company") (TSX:ER) is pleased to announce the reports of the Moni gold prospect channel sampling results and the first five diamond drill holes of the 12-hole Phase 1 Program (see FIGURES 1 - 4 and TABLE 1 attached). Assays are pending on the remaining seven holes. The results of the entire Phase 1 program will be used to determine the Phase 2 program expected to begin in early 2017 at the Éléonore South Joint Venture Property, in James Bay, Quebec.

  • South32 makes first acquisition, pays $200m for Peabody mine in Australia 2016-11-03
    iversified miner South32 has made its first acquisition since demerging from major BHP Billiton, spending $200-million on US major Peabody Energy’s Metropolitan colliery and its 16.67% stake in the Port Kembla coal terminal, in New South Wales. “The Metropolitan colliery is a natural fit within our portfolio and the acquisition is consistent with our strategy to invest in high-quality mining operations where we can create value,” Souht32 CEO Graham Kerr said on Thursday.
  • Pasinex Resources Announces High Grade DSO Sulphide Mineral Sale from the 50% owned Pinargozu Zn Mine 2016-11-03

    TORONTO, ONTARIO--(Marketwired - Nov. 3, 2016) - Pasinex Resources Limited (CSE:PSE)(CSE:PSE.CN)(FRANKFURT:PNX) (the "Company" or "Pasinex") today announced its first sale of direct shipping (DSO) high-grade zinc sulphide material from its 50%-owned Pinargozu zinc mine in Turkey. The joint venture company Horzum AS reported a sale of 991 tonnes averaging 46.82% Zn. The approximate value of the product realized was over US$700 per tonne.

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