Sandfire Resources (ASX: SFR) has provided assay results from its ongoing drilling program at the MATSA Copper Operations in Spain, confirming new mineralised extensions at the high-priority Magdalena and Aguas Teñidas areas.
HIGHLIGHTS
- Completed 68 near-mine and resource extension exploration drill holes (~25.5km) across Magdalena and Aguas Teñidas between 25 October 2024 and 11 April 2025
- Confirmed mineralised extensions at both Magdalena (Masa 2 West, Masa 2 Central and Masa 2 East) and Aguas Teñidas (San Pedro, Western Extension Stockwork and Aguas Teñidas Stockwork) within the first nine months of this five-year drilling program
- Significant assay results were confirmed in 36 of 68 holes, including:
- Magdalena (0.5% Cu CoV, 3m internal waste, 0.3m minimum composite)
- MAG-X-278: 5.5m @ 2.9% Cu, 0.1% Zn, 0.1% Pb, 2g/t Au and 11.6g/t Ag from 517m
- MAG-X-269: 10.2m @ 1.3% Cu, 0.1% Zn, 0.1% Pb, 2.8g/t Au and 10.2g/t Ag from 480m
- MAG-X-272: 7.7m @ 2.6% Cu, 0.3% Zn, 0.2% Pb, 2.7g/t Au and 14.7g/t Ag from 375.3m
- MAG-X-262: 4.3m @ 2.0% Cu, 0.0% Zn, 0.0% Pb, 0.6g/t Au and 2.3g/t Ag from 402.1m
- MAG-X-293: 5.4m @ 3.2% Cu, 0.3% Zn, 0.1% Pb, 1.8g/t Au and 18.9g/t Ag from 389.4m
- Aguas Teñidas (0.5% Cu CoV, 3m internal waste, 0.3m minimum composite)
- DAF-240: 13.9m @ 1.3% Cu, 8.0% Zn, 2.1% Pb, 0.7g/t Au and 45.3g/t Ag from 189.2m
- DAF-238: 3.4m @ 1.0% Cu, 3.1% Zn, 0.8% Pb, 0.8g/t Au and 40.0g/t Ag from 235.4m
- DST-687: 5.8m @ 1.7% Cu, 0.0% Zn, 0.0% Pb, no assays Au and 2.2g/t Ag from 253.2m
- ASP-07: 2m @ 1.4% Cu, 0.2% Zn, 0.2% Pb, 0.6 g/t Au and 30.4g/t Ag from 406.9m
- Magdalena (0.5% Cu CoV, 3m internal waste, 0.3m minimum composite)
- These results have encouraged our team to increase their focus on our high priority targets, which include Masa 2 West Extension, Masa 2 West, Masa Olivo and San Pedro, consistent with our strategic objective to increase our ore reserves at MATSA (which include Magdalena: 17.7Mt at 1.9% Cu, 2.2% Zn, 0.7% Pb and 32.2g/t Ag, and Aguas Teñidas: 16.5Mt at 1.2% Cu, 3.4% Zn, 1.0% Pb and 44.2g/t Ag) and have a mine life of a minimum 15 years within five years
Sandfire Chief Executive Officer and Managing Director, Brendan Harris, said:
“We have made good progress in our drilling program at Magdalena and Aguas Teñidas, having confirmed that mineralisation extends beyond the current mine plan in our high priority target areas. MATSA is a modern, strategically positioned mining hub located in the highly prospective Iberian Pyrite Belt, and we are firmly focused on increasing our reserves as this is the most capital-efficient way we can grow shareholder value.”
