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Epic & Msn data
Epic SFR
Time: 10:14:13
Mid Price: 199.00
Change Today: 1.75 Ascending
Change % Today: 0.89 Ascending
Fifty Two Week High: 243.00
Fifty Two Week Low: 122.00
Market Capital: 176.33
Period & price data
Period Price
Now: 199.00
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: ASX
Sector: General Mining
Epic: SFR
News: Latest news
Web Site: Sandfire Resources NL
Other Articles: 25-02-201022-02-201009-02-2010

Sandfire Resources NL

Sandfire Resources NL is an Australia-based company engaged in the exploration and evaluation of mineral tenements in Western Australia and the Northern Territory. The Company’s projects include Borroloola Project, Doolgunna Gold and Iron Projects, Urandy Gold Project, Yannarie Lead and Zinc Project, Sandfire Zinc and Lead Project, and Mt Boggola Project. During the fiscal year ended June 30, 2008, the Company primarily focused its exploration activities on the Borroloola Project in the Northern Territory and Doolgunna Project in Western Australia.
Tuesday, February 09, 2010

More positive results on copper-gold project for high-flyer Sandfire Resources

Ross Lothean, Mineweb.com

Shares in Sandfire Resources closed yesterday 18 cents up at $A3.60 ($US3.12) as a prelude to the company preparing its first JORC Code resource for the Doolgunna project north of Meekatharra in the north Murchison region.

There has already been a lot of number crunching by analysts with some of the more excitable suggesting their may already be 500,000 tonnes in the deep-seated lenses.

Apart from today's results the rumour machine is still running strongly on speculation this junior which has had a rapid rise from being a penny stock less than eight months may be a takeover target. One of the names constantly mentioned is the cashed-up OZ Minerals Ltd.

The latest results will also provide fresh adrenalin for several explorers who hold ground at or near Doolgunna, which until this discovery was an old gold mining camp of little consequence.

The assays released today included a series of new holes into Conductor 1 and the Degrussa lens at Doolgunna.

Better assays from Conductor 1 included 6.8 metres grading 14.8% copper and 1.7 grams/tonne gold; 31.4m @ 4.6% Cu and 2.1 g/t Au; 25.9m @ 4.7% Cu and 2.2 g/t Au, 21.9m @ 6.3% Cu and 0.9 g/t Au and a hole with 20m @ 4.8% Cu and 0.8 g/t Au followed by 14.9m @ 4.7% Cu and 1.9 g/t Au.

A high grade intercept from DeGrussa was 2.1m @ 17.8% Cu and 7.5 g/t gold.

Managing director Karl Simich said generating the maiden resource estimate "is on track for this month."

He said the entire 2009 drilling data base for the DeGrussa deposit encompasses 88 diamond holes, completed between early July and December 22 last year.

Simich said the company would increase exploration for additional VMS deposits near Conductor 1 and DeGrussa, including the Conductor 4 deposit picked up late last year.

The company believes, like the Canadian VMS mining models, that there is potential to discover multiple deposits on the exploration licences.

Well known Australian mining manager Martin Reed, who has helped develop several mines in Australia and southern Africa, has been appointed project manager.

www.mineweb.com

 

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