Mine Web reported that a substantial lift in silver and zinc resources for the Nimbus project 8 kilometers east of Kalgoorlie's Super Pit gold mine has strengthened the development plans for MacPhersons Reward Limited.
The Resources and Energy Symposium in the New South Wales mining centre of Broken Hill was told today that the group has upgraded its Nimbus project's resource to 9.4 million ounces of silver as well as a higher zinc resource of 32,700 tonnes.
Mr Morrie Goodz MD of MacPhersons Reward said that the conference the upgraded resource was 2,461 million tonnes grading 119 grams per tonne silver and 1.33% zinc. Out too that there exist zones of higher grade as shown by the company's diamond drilling and historic results that gave silver grades up to 2,000 gram per tonne silver.
He said that a review of historical project economics showed that the cost curve for Nimbus from 2007 has remained relatively flat, while the silver sale price is 400% of that obtained by the earlier operations.
Source - Mine Web