Sandfire reports updated mineral resource and ore reserve estimate for MATSA asset

Sandfire Resources Limited (ASX: $SFR) has re-released an announcement updating the Mineral Resource and Ore Reserve estimate for its MATSA asset located in the Iberian Pyrite Belt of Spain. The updated Mineral Resource estimate totals 172.8Mt at 1.3% Cu, 2.8% Zn, 1.0% Pb and 38.6g/t Ag containing an estimated 2.2Mt of copper, 4.8Mt of zinc, 1.8Mt of lead and 215Moz of silver with an estimated Net Smelter Return (NSR) of US$114/t. The updated Ore Reserve estimate totals 38.3Mt at 1.5% Cu, 2.6% Zn, 0.8% Pb and 37.3g/t Ag containing an estimated 588kt of copper, 1,003kt of zinc, 315kt of lead and 45.9Moz of silver with an estimated NSR of US$113/t.

Sandfire's CEO comments on MATSA mineral resource and ore reserve update

Sandfire's Chief Executive Officer and Managing Director, Brendan Harris, expressed satisfaction with the team at MATSA for their continued efforts in improving orebody knowledge. He highlighted the successful replacement of mining depletion and the potential for resource and reserve growth at MATSA, emphasizing its significance as a value driver. Harris also mentioned the inclusion of new zones in the Ore Reserve estimate, expressing optimism about their future contribution and the untapped potential in the Iberian Pyrite Belt.

Summary of MATSA mineral resource and ore reserve update

The re-released announcement by Sandfire provides an updated Mineral Resource estimate of 172.8Mt and an Ore Reserve estimate of 38.3Mt for its MATSA asset. The company's CEO, Brendan Harris, emphasized the successful replacement of mining depletion and the potential for resource and reserve growth at MATSA. The update also includes the addition of new zones in the Ore Reserve estimate, reflecting the company's focus on near-mine exploration to increase reserves and extend mine life. Sandfire's ongoing geological work underscores its belief in the untapped potential in the Iberian Pyrite Belt, with a commitment to accelerating the program for substantial reserve and mine life expansion.