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Sandfire Resources NL
Summary
| Project: | Springfield | |
|---|---|---|
| Deposit: | Monty | |
| Location: | Australia | |
| Commodities: | Copper-Gold | |
| Date: | 6/21/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 21-6-2019: Sandfire Resources NL announces a Resource Estimation report for its Monty deposit at the Springfield project. Mineral resource and ore reserve statement. Sandfire Resources NL (ASX: SFR, “Sandfire”) is pleased to announce an updated Ore Reserv | |
| Resources: | (Reserve, Prob.): 0.92Mt @ 8.7% Cu, 1.4g/t Au at Monty | |
| CP/QP: | [Resources]: Callum Browne (Internal) | |
| ABSTRACT: | Sandfire Resources NL (ASX: SFR, “Sandfire”) is pleased to announce an updated Ore Reserve and Mineral Resource for the DeGrussa Copper-Gold Operation in Western Australia. The update includes the DeGrussa, Conductor 1, Conductor 4 and Conductor 5 deposits at the DeGrussa Mine as well as the Monty Mine. Resource definition drilling in Conductor 5 and subsequent orebody remodelling in conjunction with a revision to modifying factors has resulted in a net overall increase in underground Ore Reserves of 0.4Mt and 2,000t of contained copper. After accounting for annual mining depletion of approximately 1.6Mt, mine life is supported through to mid-CY2022. Grade control drilling is ongoing at Monty with three underground (UG) diamond drill rigs currently operating. Mineral Resources and Ore Reserves will be updated in the second half of CY2019 to incorporate these results. No material mining depletion has occurred at Monty up to 31 December 2018 therefore the Ore Reserves for Monty remain unchanged. Sandfire owns 100% of Monty following the acquisition of the 30% interest held by Talisman Mining Limited (ASX: TLM; Talisman) in the Springfield Exploration and Mining Joint Ventures (refer to Sandfire’s ASX announcement titled, “Sandfire Completes Acquisition of Talisman’s 30% Interest in the Springfield Project”, dated 12 October 2018). | |
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