The new 507,000oz resource was calculated from extensional and infill drilling at three areas within the 1800m-long strike, although the Boorara project, which is just a few kilometres from Kalgoorlie and the Super Pit, remains open along strike and at depth – and the company said is confident the resources will continue to grow.
The total resource is now 16.46 million tonnes grading 0.96 grams per tonne, including a measured 6.11Mt grading 0.92gpt for 181,000oz, an indicated 7.26Mt at 0.97gpt for 227,000oz and an inferred 3.08Mt at 1gpt for 99,000oz.
The earlier resource was for 5.95Mt grading 1.2gpt for 232,000oz.
Drilling paused at Christmas to allow the results of the past year’s work to be assessed, and now Cube Consulting has completed its resource estimate the company has announced plans to target some 700m of mineralisation with 20,000m of infill drilling at Northern Stockworks and Crown Jewel.
Additionally, four deep RC/diamond holes are being planned to test deeper mineralisation below 250m.
MacPhersons is also planning drilling to target areas north of the defined strike.
The company, which is headed up by Goldfields identity Ashok Parekh, said the infill drilling could help prove a single orebody.
“For example, in the Crown Jewel deposit, the most northern cross-section has intercepted mineralisation and is 200 metres from Northern Stockwork suggesting a much larger gold system,” Parekh said.
MacPhersons has identified an area in need of step-out drilling from Southern Stockworks and potentially plunging below the Crown Jewel deposit and due north along the Boorara Dolerite.
The deep potential at the Southern Stockwork, Crown Jewel and Northern Stockwork deposits could be considerable, if the mineralisation is found to be similar to the prolific Mt Charlotte deposit, which extends to 1200m depth.
MacPherson shares were untraded this morning at A11.5c, capitalising the company at $40 million.