- Sandfire Resources (SFR) updates the mineral resource estimate (MRE) for the MATSA mining operations in Spain
- The updated MRE totals 147.2 million tonnes at 1.4 per cent copper, three per cent zinc, one per cent lead and 39.6g/t silver
- The update represents a 21 per cent increase in contained tonnes, an 11 per cent increase in contained copper and a 10 per cent increase in contained zinc
- The updated MRE provides the foundation for life-of-mine planning and ore reserve estimation which is expected to be completed in the September quarter
- Sandfire is down 1.31 per cent with shares trading at $4.52 at 1:39 pm AEST
Sandfire Resources (SFR) has updated the mineral resource estimate (MRE) for the MATSA mining operations in Spain.
The updated MRE totals 147.2 million tonnes at 1.4 per cent copper, three per cent zinc, one per cent lead and 39.6g/t silver containing 2.1 million tonnes of copper, 4.4 million tonnes of zinc, 1.5 million tonnes of lead and 187.6 million ounces of silver.
The update represents a 21 per cent increase in contained tonnes, an 11 per cent increase in contained copper and a 10 per cent increase in contained zinc. Roughly 74 per cent of the MRE is classified as measured and indicated.
This update marks Sandfire’s first MRE for MATSA since it completed the acquisition in early February.
The updated MRE provides the foundation for life-of-mine planning and ore reserve estimation which is expected to be completed in the September quarter.
“The completion of our first-ever mineral resource estimate for MATSA is a tremendous achievement which confirms the world-class nature of the asset, validates our due diligence assessment prior to the acquisition, and sets a strong long-term platform for growth,” CEO and Managing Director Karl Simich commented.
“This mineral resource represents an outstanding first step for Sandfire at MATSA and we have every confidence that this exceptional asset will continue to grow and develop in the months and years ahead, forming the backbone of our ambition to become a sector-leading international base metals producer.”
Sandfire was down 1.31 per cent with shares trading at $4.52 at 1:39 pm AEST.