Sandfire provides MRE and ORE update for Motheo Copper Operations
28 August
Sandfire Resources (ASX: SFR) has provided an updated consolidated Mineral Resource Estimate (MRE) and Ore Reserve Estimate (ORE) for the Motheo Copper Operations in Botswana. The consolidated statement includes the T3, A4 and A1 deposits and accounts for mining depletion from the T3 and A4 deposits.
HIGHLIGHTS
As at 31 December 2024:
Overall Measured, Indicated and Inferred Mineral Resource estimate for Motheo of 59.5Mt at 1.0% Cu and 13.6g/t Ag containing an estimated 570kt of copper and 26.2Moz of silver
Contained Mineral Resource tonnes have decreased by 8% for an 11% decrease in contained copper and a further 9% decrease in contained silver since 30 June 2024
Mining depletion and remodelling of both the T3 and A4 deposits accounts for the losses incurred over the period 30 June 2024 to 31 December 2024
Overall Proved and Probable Ore Reserve estimate for Motheo of 42.4Mt at 0.9% Cu and 13.5g/t Ag containing an estimated 381kt of copper and 18.4Moz of silver
Contained ore tonnes have decreased by 7% for an 11% decrease in contained copper and a further 7% decrease in contained silver since 30 June 2024
Mining depletion at T3 accounts for most of the losses with remodelling of both T3 and A4 making up the remainder.
Infill and extension drilling undertaken in recent years has greatly improved our overall understanding of the lithologial and stratigraphic controls of mineralisation at Motheo
The revised set of ore domains that this process established for our T3 and A4 deposits underpins our latest Mineral Resource and Ore Reserve estimates
Sandfire CEO and Managing Director, Mr Brendan Harris, said:
“The exceptional performance of the Motheo Copper Operations through its construction, commissioning and ramp-up is a wonderful demonstration of the potential of the Kalahari Copper Belt and its status as an emerging copper producing region.
“With our large landholding, two open-pit mines and a third being studied, we have a unique and growing understanding of the geological controls of economic mineralisation in this highly prospective sedimentary copper belt, which is now reflected in our updated Mineral Resource and Ore Reserve estimates for Motheo.
“The relatively recent recognition that the T3, A4 and A1 deposits are contained within strikingly similar structures with broadly consistent mineral assemblages has also allowed us to further refine our multi-year exploration program that has been designed to establish a minimum 15 years of life at Motheo within five years.
“We are aiming to declare a maiden Ore Reserve estimate for our A1 deposit in the June quarter of 2026, which will be the next important step in this process.”
