Huge Silver Exposure, page-25

Nimbus Silver / Zinc project:1/ Originally mined from 2003-2007 from Discovery Pit and the shallower East Pit, producing 3.6 million oz of silver at an average grade of 352 g/t silver. The mine is 10 kilometres east of Kalgoorlie.
According to Mulholland et al. (1988), the Nimbus silver-zinc deposit is 17 km ESE of Kalgoorlie.

In April 2012, MacPhersons Resources Limited announced it was re-opening the mine, initially as four shallow pits mining an oxide resource, then joining all four as a superpit mining the primary ore. It had discovered a new ore resource 20-70 metres below the floor of the Discovery Pit, as well as new polymetallic resources around the East Pit, a new gold resource in the Boorara Shear Zone, 1 kilometre south-west and several gold, silver and zinc prospects in the immediate area. These include Brindabella (Ag-Zn), Diggers Dam (Au), Tramways (Ag-Zn), Chapple (Au), Dawn (Au), Boorara (Au), Condor (Ag-Zn), and Gretel (Ag-Zn).

At the Discovery/ East Pits ten sulphide lenses have been discovered as VHMS massive sulphide bodies and disseminated silver-zinc mineralisation.
The principal Ag-bearing mineral in the oxide zone is chlorargyrite (Mulholland et al., 1988).

2/

The 100% owned Nimbus Ag-Zn-Pb-Au deposit is located 15 kilometres east of Kalgoorlie-Boulder in Western Australia within the Kalgoorlie Terrane, near the margin with the Kurnalpi Terrane. Nimbus is bounded by northwest trending shear zones, namely the Kanowna Shear Zone to the east and the Boorara Shear Zone to the west.

Nimbus is a shallow-water and low-temperature volcanic hosted massive sulphide (VHMS) deposit with epithermal characteristics (i.e. a hybrid bimodal felsic deposit), which is consistent with its position near the margin of the Kalgoorlie Terrane.

The local stratigraphy comprises a northwest-trending and steeply-dipping bimodal-felsic package of volcanic rocks (i.e. quartz-feldspar porphyritic dacite and lesser basalt, plus their autoclastic equivalents) with subordinate carbonaceous mudstone, tuff, polymict conglomerates and volcanic breccias. Komatiite flows, volcanic sandstones/siltstones, carbonaceous mudstone, basalt and dolerite were intersected in a distal drillhole (Hollis 2015).

Nimbus primary sulfide resources occur as a series of stacked plunging lenses, overlying mined supergene and oxide mineralisation. Silver production from the Discovery and East pit produced 3.6 million ounces of silver.

In the primary sulfide zone, early well-developed massive pyrite is underlain by:

1. semi-massive, stringer and breccia-type Ag-Zn±Pb (Cu-Au) sulfides associated with the autoclastic facies of thick units of dacite; and
2. stringer and disseminated sulfides (dominated by pyrite and sphalerite) in coherent pseudo-brecciated dacite at depth. Hydrothermal alteration is characterised by intense and pervasive quartz-sericite-carbonate±Cr-V mica, with chlorite predominantly associated with mafic units (Hollis, 2015).

The current Mineral Resource Estimate of Nimbus (JORC 2012) is:

12.1 million tonnes at 52 g/t silver, 0.2 g/t gold and 0.9% zinc containing 20.2 million oz of silver, 78,000 oz of gold and 104,000 tonnes of zinc

using lower cut-off grades of 12 ppm for Ag, 0.5% for Zn and 0.3 g/t for Au over a 2 metre down hole composite.

Within this global resource, the Nimbus project has a high grade silver zinc resource of:

255,898 tonnes @ 773 g/t Ag and 13% Zn

that has been estimated using a higher modelling cut-off grade of 500 g/t Ag and a top cut grade of 2,800 g/t Ag.