Slide 1: The DeGrussa Copper-Gold Discovery
For personal use only ASX Code: SFR The DeGrussa Copper- Gold Discovery AMEC Congress, 1 June 2010 The Doolgunna Project “has considerable potential for the discovery of gold and base metal deposits.” – Sandfire Prospectus 2004 1
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer Competent Person’s Statement The information in this public presentation that relates to Exploration Results and Mineral Resources is based on information compiled by Mr John Evans who For personal use only is a Fellow of the Australasian Institute of Mining and
Slide 3: DeGrussa VMS Deposit
DeGrussa VMS Deposit Located 900km north of Perth and For personal use only 150km north of Meekatharra Lies within the 2000 m.y.o. Bryah Group of rocks, mafic volcanic and sedimentary sequence Current JORC resources: 7.13Mt @ 5.2% Cu, 1.9g/t Au, 15g/t silver 372,000t Cu metal, 439,000oz gold, 3.4Moz
Slide 4: DeGrussa VMS Deposit
DeGrussa VMS Deposit Exploration focused on the For personal use only DeGrussa locality, at depth and along strike from the known lenses Exploration continuing across the 400sq km tenement holding, targeting VMS mineralisation and gold Mining Lease Application lodged over the DeGrussa Project and mi
Slide 5: Exploration History – Pre-Sandfire
Exploration History – Pre-Sandfire Horseshoe Lights VMS deposit, located 75km north-west of DeGrussa: For personal use only Copper endowment of 94,000 tonnes Similar stratigraphic position to DeGrussa Discovery of the Red Bore gossan (circa 1960s): Dolerite/sediment contact 2.2km east-south-east of
Slide 6: Exploration History – Pre-Sandfire
Exploration History – Pre-Sandfire WMC drilled the principal Red Bore gossan For personal use only (1969-1971): 14 holes – best result of 7.6m @ 6.3% Cu! Defined a 100m long zone, 6m thick Newmont sampled the Red Bore gossan (1984-1985): Results included 1.67g/t gold Great Australian Resources and S
Slide 7: Exploration History – Pre-Base Metal Discovery
SFR Exploration History – Pre-Base Metal Discovery Sandfire undertook exploration programs For personal use only comprising predominantly geochemistry, regolith, rock, soil and shallow vacuum drilling A program of deep regolith and bedrock sampling was undertaken using RAB and Aircore drilling This
Slide 8: Discovery of the DeGrussa Gold Deposit
Discovery of the DeGrussa Gold Deposit Saprolitic gold was intersected in December 2007 by For personal use only a line of shallow RAB drilling across the DeGrussa locality – part of a program of reconnaissance drilling undertaken to follow up a 20ppb gold-in-soil result Hole DGRB 2233 intersected 1
Slide 9: Discovery of the DeGrussa Gold Deposit
Discovery of the DeGrussa Gold Deposit This gold mineralisation system, hosted in mafic volcanics, appeared to For personal use only have prospects for discovery of primary shear-hosted gold or VMS base metal deposits 9
Slide 10: Discovery of the DeGrussa Copper-Gold Deposit
Discovery of the DeGrussa Copper-Gold Deposit In April 2009, Sandfire commenced For personal use only a Reverse Circulation drilling program at DeGrussa to test the zone of shallow gold mineralisation at depth Late in the planned program, geologist Margy Hawke, elected to return to the western end o
Slide 11: Discovery of the DeGrussa Copper-Gold Deposit
Discovery of the DeGrussa Copper-Gold Deposit Following the discovery, For personal use only Sandfire immediately commenced a fixed-loop electromagnetic survey over the target area This survey identified a weak response over the DeGrussa lode, masked by a much stronger anomaly Down-hole EM also iden
Slide 12: Discovery of Conductor and Conductor Deposits
Discovery of Conductor 1 and Conductor 4 Deposits Initial modelling of the Conductor 1 For personal use only EM target suggested a deep, flatter lying anomaly, inclined in a southerly direction A small program of vertical RC drilling commenced to test this anomaly and intersected: 39m @ 5.2% Cu, 1.6
Slide 13: Evaluation and Resources
Evaluation and Resources For personal use only Evaluation commenced on 5 July 2009 – hole DGDD-01 intersected high-grade copper Conductor 1 and DeGrussa have been drilled out on a 40m by 40m pattern of diamond drill holes 13
Slide 14: Project – Mineral Resource
DeGrussa Project – Mineral Resource An independent JORC resource was calculated Coffey Mining and announced on 22 February 2010: For personal use only Independent JORC compliant Mineral Resource estimate for DeGrussa and Conductor 1 deposits: 7.13Mt at 5.2% copper, 1.9g/t gold and 15g/t silver Repor
Slide 15: Project
DeGrussa Project Three principal copper- For personal use only rich volcanogenic massive sulphide lenses: Conductor 1 – evaluated DeGrussa lode: evaluated – High Grade Developed chalcocite cap Conductor 4 – evaluation underway DeGrussa Project – Conceptual Design (SW Perspective) 15
Slide 16: Deposit Geology
DeGrussa Deposit Geology Primary sulphide mineralisation: For personal use only Pyrite, chalcopyrite, pyrrhotite (major) Magnetite, sphalerite (minor) Galena, arsenopyrite (minor) Siderite, ankerite, stilpnomelane, minnesotaite, quartz, calcite (gangue) Supergene mineralisation (DeGrussa lode): Nati
Slide 17: Deposit Geology
DeGrussa Deposit Geology For personal use only Sequence has a VMS mineralisation hosted in sediments southerly dip Sinistral faulting 17
Slide 18: Current Status of Exploration/Evaluation Program
Current Status of Exploration/Evaluation Program Complete coverage of 400 sq km tenement area by VTEM on 150m spaced lines For personal use only Complete aeromagnetic survey coverage on 50m spaced lines Trial gravity, trial IP survey, large ground EM surveys Diamond drilling: Holes DGDD1-204 Commenc
Slide 19: Deposit – Ongoing Exploration Program
DeGrussa Deposit – Ongoing Exploration Program Commenced in May 2010 For personal use only Focus in the vicinity of the known mineralisation Increasing understanding of the stratigraphy, geology and structure of the mineralisation Heavy emphasis on geophysics including: Trial IP survey over the DeGr
Slide 20: The DeGrussa Copper-Gold Discovery
For personal use only ASX Code: SFR The DeGrussa Copper- Gold Discovery AMEC Congress, 1 June 2010 The Doolgunna Project “has considerable potential for the discovery of gold and base metal deposits.” – Sandfire Prospectus 2004 20