Sandfire has released its latest results, highlighting its plans to extend its DeGrussa’s mine life into 2021 and increases its resources.
According to the miner it has now incorporated its new high grade underground mineral resources into its mine plan, allowing it to push out operations to mid-2012, giving the underground operations a ten year lifespan.
Much of this is due to Sandfire recent exploration, adding its inaugural ore reserve for its Conductor 4 deposit to its mine plan, adding approximately 88,000 tonnes of contained copper and 94,000 ounces of contained gold to its overall ore reserves.
This now takes the miners ore reserves, based on mining depletion to December 2014, to around 343,000 tonnes of contained copper and 368,000 ounces of contained gold in its underground ore reserves (including surface stockpiles) with an additional 33,000 tonnes of copper and 88,000 ounces of gold in its open pit ore reserves.
Sandfire is now working to create access to its Conductor 4 and 5 deposits, with first stope production at C4 scheduled for early next year.
In the meant time C5 diamond drilling is expected to continue.
Speaking on the latest results, Sandifre managing director Karl Simich said “we are very encouraged by what we have seen recently with some of these underground exploration activities; in particular, recent underground drilling has returned strong grade intersections outside of the known ore reserves identifying potential feeder zones in the footwall of the C1 deposit”.
“Subject to further drilling, this work could lead us closer to finding the underlying volcanic source of the DeGrussa deposits, which would be a very significant development.
“At the same time we are looking forward to extensional drilling at C5 later this year, where we believe there is a lot of unfinished business including high-grade intercepts outside of the current ore reserves which have not been followed up since the days of the discovery due to their depth.”