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Sandfire Resources America completes an Updated Mineral Resource Estimate for the Johnny Lee Deposit, Black Butte Copper Project
Key Points: The Johnny Lee deposit has a Measured and Indicated Mineral Resource of 10.9 million tonnes (Mt) at an average copper grade of 2.9% for 311 thousand
About this update from Sandfire Resources America Inc.
[{"type":"text","content":" Key Points: The Johnny Lee deposit has a Measured and Indicated Mineral Resource of 10.9 million tonnes (Mt) at an average copper grade of 2.9% for 311 thousand tonnes (kt) of contained copper (Cu) at a 1.0 % Cu cut-off grade; The Johnny Lee deposit has an Inferred Mineral Resource of 2.7 Mt at an average copper grade of 3.0% for 80 kt of contained Cu at a 1.0 % Cu cut-off grade; Forty-eight diamond drillholes completed by Sandfire Resources America have been used to update the Mineral Resource estimate for the Johnny Lee deposit; Metallurgical testing of the Johnny Lee deposit has been integrated with systematic mineralogy to develop a copper recovery model; Updated copper cut-off grade of 1.0 % Cu based upon updated recovery studies and price assumptions; The Mineral Resource update for the Johnny Lee Deposit excludes the Lowry Deposit. Mineral Resources for the Lowry Deposit remain unchanged and current as of the effective date listed in the Preliminary Economic Assessment, July 12, 2013. WHITE SULPHUR SPRINGS, Montana, Oct. 25, 2019 (GLOBE NEWSWIRE) -- Sandfire Resources America Inc. (“Sandfire America” or the “Company”, Trading symbols- TSX.V:SFR and OTCQB:SRAFF) is pleased to provide the following announcement related to an updated Mineral Resource estimate for the Black Butte Copper Project, a proposed underground mine located in Montana, USA. CEO and VP of Project Development Rob Scargill stated: “The updated Mineral Resource estimate, supported by substantial new drill data and geometallurgical investigation, allows project evaluation to proceed using data in which we have an increased level of confidence that will underpin upcoming studies on the Black Butte Copper Project.” The updated Mineral Resource statement for the Johnny Lee Deposit is summarized in Table 1. This Mineral Resource statement is based upon the Preliminary Economic Assessment (effective date: July 12, 2013) further supported by additional drilling, analyses, geological modeling, and extensive metallurgical studies to provide updated recoveries. Table 1: Mineral Resource Estimate for the Johnny Lee Deposit as of October 15, 2019. Category Quantity(Mt) Cu (%) TotalMetal (kt) UCZ Measured 1.4 2.6 36.2 Indicated 8.3 2.3 191.3 Measured and Indicated 9.7 2.4 227.5 ...