Sandfire Resources (ASX: SFR)
ADDITIONAL MASSIVE SULPHIDE INTERSECTION RECORDED IN NEWLY DISCOVERED
ZONE
HIGHLIGHTS
Fourth RC drill hole targeting the newly discovered large EM anomaly
north of high-grade DeGrussa mineralisation (Conductor 1) intersects massive
sulphide mineralisation 80m south of previous intersections:
DGRC
117: Visible chalcopyrite in
sulphides intersected from 287 to 323m downhole
Assay results now awaited for three RC drill holes, DGRC 114, 115 and
117 from this initial phase of drilling.
Downhole EM surveys commencing today on all recently completed RC drill
holes.
1,000 line km airborne EM survey commencing on Wednesday 24 June
covering prospective stratigraphic horizons along strike from DeGrussa.
Diamond drilling scheduled to commence in early July to fully test the
DeGrussa and Conductor 1 discoveries drilling will be ongoing to test the
limits of the mineralised systems.
Further
to its release of 17 June, Sandfire Resources NL (ASX: SFR; Sandfire)
advises that a fourth RC drill hole targeting the recently identified Conductor
1 anomaly to the north of its high-grade DeGrussa discovery, part of
its 100%-owned Doolgunna Project, has also intersected massive sulphides
approximately 80 metres south of the previously reported holes.
Geological logging of drill samples from hole DGRC 117 confirms that massive
sulphide mineralisation was intersected from 287 metres to 323 metres a downhole interval of 36 metres.
This was a vertical drill hole located at 733720m E and 7173120m N, which is 80
metres south of the previously reported drill hole DGRC 114, which intersected
35 metres of visually similar sulphide mineralisation (see Fig. 1 below).
Samples have been despatched to the laboratory for this latest drill hole.
Accordingly, Sandfire is now awaiting assay results for the following drill
holes targeting Conductor 1, which is interpreted to be a large body of
sulphide mineralisation located adjacent to DeGrussa:
DGRC 114: Visible
chalcopyrite in sulphides intersected from 135 to 170m downhole
DGRC 115:
Visible chalcopyrite in sulphides intersected from 92 to 122m downhole
DGRC 117:
Visible chalcopyrite in sulphides intersected from 287 to 323m downhole
This completes this initial phase of Reverse Circulation drilling to test
Conductor 1. Hole DGRC 117 is considered to be significant, in that it
demonstrates that this potentially large sulphide body extends to the south. As
previously advised, hole DGRC 116 did not intersect massive sulphide
mineralisation (see Fig. 1 below).
Additional field-based exploration activities commenced at the Doolgunna
Project today, including a program of downhole EM surveys which are being
carried out on all of the recently completed RC drill holes and over the
DeGrussa discovery zone.
A helicopter-borne EM survey will also commence on Wednesday 24 June comprising
over 1,000km of close-spaced survey lines over the prospective stratigraphic
horizons along strike from the DeGrussa prospect.
In early July, a program of diamond core drilling will commence to test the
massive sulphide deposits recently identified at DeGrussa and Conductor 1. This
program will be ongoing and is designed to test the limits of the mineralised
systems.
Figure 1
Conductor 1
anomaly adjacent to DeGrussa mineralisation latest drilling
- ENDS -
W
JOHN EVANS
Technical
Director
AUSIMM
Competent Person
Competent Person’s Statement
The information in this report that relates to Exploration Results is
based on information compiled by John Evans who is a Fellow of the Australasian
Institute of Mining and Metallurgy. John Evans has sufficient experience which
is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the Australasian Code of
Reporting of Exploration Results, Mineral Resources and Ore Reserves. John
Evans consents to the inclusion in the report of the matters based on his
information in the form and context in which it appears.
W
JOHN EVANS
Technical
Director
AUSIMM
Competent Person
Competent Person’s Statement
The information in this report that relates to Exploration Results is
based on information compiled by John Evans who is a Fellow of the Australasian
Institute of Mining and Metallurgy. John Evans has sufficient experience which
is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the Australasian Code of Reporting
of Exploration Results, Mineral Resources and Ore Reserves. John Evans consents
to the inclusion in the report of the matters based on his information in the
form and context in which it appears.
For further information, please contact:
Karl
Simich Executive Director:
Mobile: +61 418 916 945
Nicholas Read ? Read Corporate:
Mobile: +61 419 929 046
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