Sandfire Resources America reports high-grade copper results from Black Butte Project
From GlobeNewswire: 2024-12-18 18:00:00
Sandfire Resources America Inc. announced additional drill results from its 2024 exploration program at the Black Butte Copper Project in Montana. Significant results included Drillhole SC24-296 with 3.19m at 19.46% Cu, among others. The ongoing program aims to upgrade and expand the Johnny Lee Lower Copper Zone resource, with drilling to continue into mid-2025.
The Johnny Lee deposit has a Measured and Indicated Mineral Resource of 10.9Mt at an average copper grade of 2.9% and an Inferred Mineral Resource of 2.7Mt at an average copper grade of 3.0%. The Company has received a Mine Operating Permit for mine development and has completed Phase I construction. The drilling program is expected to provide valuable data for an updated Feasibility Study.
VP of Exploration, Jerry Zieg, expressed satisfaction with the drilling results, highlighting the consistent high-grade intersections and clear definition of resource boundaries. The Company plans to add a third drill in January 2025 to further expand and define the Johnny Lee Lower Copper Zone.
CEO Lincoln Greenidge emphasized the Company’s commitment to improving the permitted resource at the Black Butte project. The positive results from the ongoing drilling program are expected to lead to a comprehensive Feasibility Study and an informed investment decision regarding project development.
Read more at GlobeNewswire: Sandfire Resources America Inc. Reports Further High Grade