Portugal flag
Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Sandfire Limited (ASX:SFR) – a popular pick among some investment bank analysts for the long-term copper thematic – has posted evidence of extended mineralisation at its Portuguese Sesmarias Prospect.

Forming part of the Alvalade JV along TSX-listed Avrupa Minerals, the latest drill headline drill hit comes in at 41.2m intersection at 1.6% copper, 3.4% zinc and trace amounts of silver from 377m depth.

Drill hits of that depth would be enough to tank a junior – but Sandfire, to remind or introduce the uninitiated, is a $4.1B market cap company.

Geotechs interpret the target area of interest to be more than 1km length of strike. Mineralisation at the Sesmarias target is known to be that of massive sulphides.

“Our exploration team in Portugal and our JV partner, Avrupa continue to execute a high-quality exploration program which is indicating the potential for a significant mineralised system at Sesmarias while also enhancing our deep knowledge of the Iberian Pyrite Belt (IPB),” Sandfire CEO Brendan Harris said.

“The IPB has been a prolific producer of metal with mining dating back to at least ~3000BCE and we believe it remains prospective for new discoveries. Sandfire has a substantial portfolio of exploration tenure throughout the IPB in both Portugal and Spain.”

SFR last traded at $9.14/sh.

SFR by the numbers
More From The Market Online
The Market Online Video

ASX Market Close: RBA keeps rates on hold amid sticky inflation | November 5, 2024

The Reserve Bank Board has kept interest rates on hold at 4.35% in line with consensus…
The Market Online Video

Timing will be everything for ‘smashing’ Hot Stock tip Judo Capital Holdings

Australian bank Judo Capital Holdings (ASX:JDO), best known for its finance and credit for small and medium-sized businesses, is
The Market Online Video

‘We’re looking’: Nickel-rich Indonesia sounds graphite warning to Aus producers

Nickel-rich Indonesia muscles in on Australian graphite producers as the Southeast Asian country expands into downstream…
Confused man

Aussie inflation seemingly hit a 3 year low. So why’s the ASX200 red?

Headline inflation in Australia has fallen to 2.8%, and that officially takes us into the RBA's…