The reverse circulation drilling program at Boorara gold project in Western Australia continues to bear fruit for owner MacPhersons Resources with more excellent results received.
The drilling is part of the 37,000 metre RC program at the 100% owned Boorara Gold Project 10 kilometres east of Kalgoorlie, Western Australia.
Latest results relate to 84 RC drill holes (15,398 m) from the Northern Stockwork, Crown Jewel and Southern Stockwork deposits of the 1.5km Boorara discovery zone.
Shallow high-grade hits at Crown Jewel include 5m at 71.37gpt gold from 75 metres depth, including 1m at 348gpt gold, 1m at 6.97gpt gold and 1m at 101gpt gold from 62 metres depth.
At Northern Stockwork, drilling hit 1m at 52.5gpt gold from 22 metres depth while at Southern Stockwork drilling hit 1m at 40.9 g/t Au from 69 metres depth.
MacPhersons has now drilled some 31,000 RC metres and has decided to cease all drilling yesterday so the RC drilling results can be sent to Cube Consulting, an independent geological group to complete a Gold Resource Estimate.
“We anticipate all assay results will be available in early February from Cube Consulting. The Boorara gold resource estimate is expected in early March 2018, following that we will complete a series of preliminary open pit optimisations.”
Combined with the Gold Resource Estimate, MacPhersons has commenced studies that will contribute to the Definitive Feasibility Studies for the Boorara Project including metallurgical test work and geotechnical studies.
Today’s news sparked buying of the company’s stock which was trading 1c, or 8.3%, higher at 13c at 12:25pm AEDT.