Sandfire’s early growth and success stemmed from the discovery...

Sandfire’s early growth and success stemmed from the discovery of the high-grade DeGrussa copper-gold deposit, located 900km north-east of Perth in Western Australia, which it successfully brought into production in less than three years – setting new records for the drill-out, permitting, financing, development and construction of new resource projects in Australia.
The strong cash-flows generated by the DeGrussa Copper Operations have provided us with the platform to grow and diversify across the globe, through the transformational US$1.865 billion acquisition of the MATSA Mining Operations in Spain, and the development of a new long-life copper project in Botswana, the Motheo Copper Mine.

It is also important to note that the drilling also intersected dolerite sills within the sedimentary sequence of rocks at several locations within the seven targets. Mafic volcanic rocks can be an important ingredient in VMS style copper-gold mineralised systems as a source of copper, similar to the DeGrussa Copper Deposit which is located in the neighbouring Bryah Basin.

The Earaheedy Project (Figure 7) is a major strategic land holding comprising over 1,400 sqkm in the emerging Earaheedy Province. The Project is located on the northern margin of the prospective Earaheedy Basin and Lodestar now owns approximately 100km of strike length of the Yelma-Frere unconformity which hosts Rumble Resource’s Zn-Pb Ag Chinook Deposit on the Earaheedy Basin’s southern margin. The Chinook MRE is 94Mt @ 3.1% Zn+Pb and 4.1 g/t Ag. The Project also includes Cu-Au targets within a similar geological setting to the DeGrussa Copper Deposit which is located in the neighbouring Bryah Basin. Limited historic drilling within Lodestar’s tenements has intercepted high grade copper including 2m @ 4.65% Cu and 3m @ 1.97% Cu.