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MacPhersons Resources Ltd.

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Summary

Project:

Nimbus-Boorara

Deposit:Boorara
Location:Australia
Commodities:Gold
Date:3/28/2017
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Mine Development
Report details:28-3-2017: MacPhersons Resources Ltd. announces an Exploration/Drilling Update report for its Boorara deposit at the Nimbus-Boorara project. Drilling results incl. 57m @ 2.97g/t Au from 139m. MacPhersons Resources Limited (ASX: MRP) is pleased to announce
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Andrew Pumphrey (Internal)
ABSTRACT:MacPhersons Resources Limited (ASX: MRP) is pleased to announce an initial set of two (2) Reverse Circulation (RC) drill results and two (2) diamond drill results drilled at the Boorara Project to support the outstanding result previously reported at BODH 025 of 163 metres (m) grading 1.94 grams per tonne (g/t) with a top-cut to 24 g/t. These new results confirm an extension of the Boorara Southern Stockwork deposit at a vertical depth below 200 metresfrom the surface and 120 metres north and 80 metres south along strike from BODH 025 – total strike length 200 metres (see ASX release of BODH 025 dated 14 February 2017). Importantly, BODH 027 has intersected high grade gold mineralisation and confirms mineralisation intersected in BORC 171 where grades of 2.8 g/t and significant widths were reported (see ASX release of BORC 171 dated 1 March 2017). The Boorara trial pit completed in October 2016 to a depth of 20 metres is a further 80 metres north of the most northern drill hole drilled to date BORCD 174. Mining exposed a 20 metre wide zone in the pit floor which was 100 metres in length with mineralisation exposed in the north and south ends of the pit. The ongoing drilling strategy is test the geology model and scope out the extent of mineralisation associated with diamond hole BODH 025 with wide 40 metre spaced holes. All significant gold intersections reported to date are associated with long drill intervals of consistent weak to strong pervasive hematite alteration, iron carbonate alteration, NW dipping quartz veining with >1% pyrite and >1% arsenopyrite mineralisation.

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