- Sandfire Resources (SFR) returns high-grade copper-silver intersections following step out drilling at the A4 Dome in Botswana
- Diamond drilling intersects vein-hosted copper-silver, with best results including 45 metres at 2.2 per cent copper and 42.6 grams per tonne silver, which the company says opens up an exciting new area for exploration
- Two diamond rigs are now operating to further evaluate the area, with a third rig expected by mid-September
- Meanwhile, the company says work is progressing on a pre-feasibility study and maiden ore reserve estimate, due for completion in the September quarter 2021
- Sandfire Resources last traded at $6.67 on September 6
Sandfire Resources (SFR) has returned high-grade copper-silver intersections following step out drilling at the A4 Dome in Botswana.
Vein-hosted copper-silver was intersected following diamond drilling, with best results including 45 metres at 2.2 per cent copper and 42.6 grams per tonne (g/t) silver, including 2.1 metres at 8.25 per cent copper.
The company said the mineralisation occurs as coarse to semi-massive, bornite and chalcopyrite within multiple brecciated quartz-carbonate veins. This marks the first hole to effectively test the axis of the A4 Dome interpreted from AEM data to the southwest of the current mineral resource.
The new intercept was located on an interpreted structure where minimal previous drilling occurred, which the company says opens up an exciting new area for exploration.
Sandfire Managing Director and CEO, Karl Simich, said the new drilling results offers an opportunity to make new high-grade discoveries.
“This was the first hole drilled to test one of the many anticline or Dome structures interpreted from airborne EM data across our land-holding, and it has delivered very encouraging results that would not look out of place at our high-grade DeGrussa mine in Western Australia,” said Karl Simich.
“Importantly, it is located in a completely undrilled area which remains wide open for follow-up drilling to further evaluate its size and orientation, and potentially define additional resources in close proximity to the mine infrastructure that we plan to establish at the Motheo Mine.”
Two diamond rigs are now operating to further evaluate the area, with a third rig expected by mid-September.
Meanwhile, the company says work is progressing on a pre-feasibility study and maiden ore reserve estimate, due for completion in the September quarter 2021. A feasibility study for an open pit mine development is also expected in the March quarter 2022.
Sandfire Resources last traded at $6.67 on September 6.