Sandfire Resources (ASX:SFR) has announced on Tuesday its fresh inking of a maiden mineral resource for the ‘A1’ copper-silver deposit in Botswana.
Despite high copper prices – hitting U$10,000/tn on Monday – shares were down -0.67% to $9.57/sh in lunchtime trades – despite Materials leading the pack today, up +0.7%.
Located 20km northeast of the Motheo Copper Mine in Botswana, Sandfire’s geotechs have worked out the company could be sitting on 5.6Mt of ore at 1.3% copper and 10g/t silver for 73,000 tonnes of copper.
Contained silver is higher at 2Moz, on an inferred confidence basis.
Sandfire sees the JORC as proof that A1 could potentially become a satellite ore zone for the Motheo Production Hub.
This would see it join part of an existing constellation: the A4 deposit has already been tapped by Sandfire some 8km west of the processing facility.
“Today, we have confirmed an initial 5.6Mt resource for the A1 deposit, located 20km to the northeast of our Motheo processing facility,” Sandfire chief Brendan Harris said.
“We continue to prioritise exploration activity in the Iberian Pyrite and Kalahari Copper Belts to increase the life of our well capitalised and strategically positioned metal processing hubs, Motheo and MATSA.
“We see real potential for this resource to grow as we increase drillhole density and test the open extent of the orebody.”
SFR last traded at $9.57.
