Sandfire Resources Releases Morck Well JV Update

January 29, 2019 06:42 PM AEDT | By Team Kalkine Media
 Sandfire Resources Releases Morck Well JV Update

Sandfire Resources NL (ASX:SFR) is an Australian copper and gold producer. The Company's key asset is the DeGrussa Copper-Gold Mine located in Western Australia. Sandfire also has exploration assets targeting a range of commodities throughout Australia.

The company has via the latest release on ASX disclosed the details on exploration activities completed during the December quarter 2018 at the Morck Well Joint Venture (“JV”) with Auris Minerals in the Bryah Basin, Western Australia. The current JV spends till date is $7.4 Mn.

Two DD tails were completed during Q4 2018, for a total advance of 1,135m. Both holes were pre-collared by RC drilling. Four DD holes have been drilled by Sandfire Resources on the Morck Well JV, till date.

Hole MWDD0002 (1,084m total depth) was drilled to test the down-dip continuity of the target sedimentary horizon, approximately 350m below MWRC0001 and 550m below the deepest massive sulphide intercept, in MWAC0112. A mixed package of exhalative sediments and peperitic pillow basalts was intersected at the target depth, with minor pyrrhotite, sphalerite and trace pyrite disseminated in the sediments and close to peperitic contacts. MWDD0003A (313m total depth) was drilled to test a subtle EM anomaly, identified in a downhole EM survey of MWDD0001. MWDD0003A intersected two zones (1.6m and 10.7m thick) of semi-massive and stringer-style pyrite and chalcopyrite, at the modelled conductor depth within the target exhalative sediment horizon which features chlorite alteration. The hole ended in dolerite. The horizon is now considered thoroughly tested at this target location, and at this stage, no more work is anticipated. Results from Holes MWDD0002, 3A were not available at the time of reporting.

Six RC holes were drilled (in addition to the two DD pre-collars - one other pre-collar was abandoned

due to loss of survey control) during Q4 2018, for a total RC advance of 2,934m. Sandfire Resources have drilled Sixteen RC holes on the Morck Well JV to date (for 7,455m).

The significant geology and mineralized intersections made in RC and Diamond drilling further confirm the prospectivity of the immediate Morck Well Project area. Drilling intersected host sediment horizons in positions approximately to the modelled interpretation, providing higher confidence to planning and results going forward. Further, the significant geology, coinciding with moderate to substantial mineralization intersected in RC and Diamond drilling, targeting the south-western continuation of the host sediment horizon highlights the prospectivity of the wider Morck Well Project area. Deep RC drilling will continue to test the Morck Well sediment package to the southwest. All DD and RC holes will be surveyed for downhole EM.

Regional aircore drilling will continue to target the Karalundi and Narracoota Formations across the southwestern part of the Morck Well JV Project area, to provide data for geological mapping and high-quality geochemistry. Another aircore programme will start on the Doolgunna tenement (E52/2438), located 3.5km southeast of the DeGrussa Cu-Au Mine, after completion of a comprehensive data compilation, which has included some relogging of historic drill holes. Both aircore programmes are expected to continue for a short time into Q1 2019.

Now let us quickly have a look at the Sandfire Resources NL’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $6.900 and is trading up by 0.73% during the day’s trade, with a market capitalization of $1.09 Billion. The stock has yielded a Year Till Date returns of 7.03% and posted returns of -22.51%, 3.95% over the last six months & three months respectively. It has a 52-week high price of $10.04 and touched 52 weeks low of $6.07, with an average volume of 767,433 approximately.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.