Sandfire Resources (ASX:SFR) announces positive drilling results in Portugal

Sandfire Resources Limited (ASX:SFR) has reported further polymetallic mineralisation intersected at the Sesmarias prospect, part of the Alvalade Joint Venture in Portugal. Drillhole SES24-054 intersected 41.2m at 1.59% Cu, 3.36% Zn, 1.71% Pb, 54.90 ppm Ag from 377.2-418.4m - downhole, including a higher-grade zone of 11.0m at 2.16% Cu, 7.90% Zn, 3.96% Pb and 113.24ppm Ag from 385.8 - 396.8m. Sandfire's Chief Executive Officer and Managing Director, Brendan Harris, expressed optimism about the drilling results, highlighting the potential for a significant mineralised system at Sesmarias and the company's substantial exploration tenure throughout the Iberian Pyrite Belt in Portugal and Spain.

Sandfire CEO Brendan Harris on the Sesmarias prospect

These are encouraging drilling results from the Sesmarias prospect, and we plan to conduct further drilling to test the extent and continuity of the mineralisation. Our exploration team in Portugal and our JV partner, Avrupa, continue to execute a high-quality exploration program which is indicating the potential for a significant mineralised system at Sesmarias while also enhancing our deep knowledge of the Iberian Pyrite Belt (IPB). The IPB has been a prolific producer of metal with mining dating back to at least ~3000BCE and we believe it remains prospective for new discoveries. Sandfire has a substantial portfolio of exploration tenure throughout the IPB in both Portugal and Spain.

Sandfire's outlook and ongoing activities

The drilling results at the Sesmarias prospect indicate the potential for a significant mineralised system, with the target stratigraphic zone interpreted to be over 1km in strike length. Sandfire plans to conduct further drilling to test the extent of the mineralisation and possibly other targets. The company's substantial portfolio of exploration tenure throughout the Iberian Pyrite Belt in Portugal and Spain positions it well for potential new discoveries. The ongoing activities include drill testing the along-strike and down-dip extent of the higher-grade zone intersected in previous drill holes, with a focus on assessing the potential 1,000m strike length of the poorly tested prospective horizon.