The strong cash-flows generated by the DeGrussa Copper Mine provide Sandfire with a strong platform from which to grow, both organically through exploration and through business development initiatives aimed at developing a long-term growth pipeline both in Australia and internationally.
The Company’s core growth focus is in the Doolgunna – Bryah Basin region of Western Australia, where Sandfire continues to progress a tightly focused, multi-disciplined exploration program to test for extensions to the known cluster of VMS (volcanogenic massive sulphide) deposits at DeGrussa and to unlock the broader potential its tenements for additional VMS discoveries.
Following a series of acquisitions and joint venture agreements, Sandfire’s Greater Doolgunna Project now comprises 5,846km2. The Company has an annual exploration budget of A$20 million allocated to the DeGrussa – Doolgunna – Bryah Basin region.
Beyond this, Sandfire is pursuing growth and business development initiatives through a series of strategic investments, farm-in joint ventures and exploration alliances.
In North America, Sandfire has a 61% interest in Tintina Resources (TSX-V: TAU), a growth-focused Vancouver-based copper company which is developing the 100%-owned and leased Black Butte Copper Project, located in central Montana, USA – one of the highest grade undeveloped copper projects in North America.
Sandfire also holds a 38% interest in WCB Resources (TSX-V: WCB), a Toronto-listed copper-gold explorer which is earning a 70% interest in the Misima Copper-Gold Project, located on Misima Island in Papua New Guinea, where it is targeting a potential Tier-1 copper-gold porphyry discovery.
Across Australia, Sandfire is pursuing new growth opportunities through a series of low-risk, low-cost farm-in joint ventures – each with the potential to deliver a major new discovery. The Company has an annual exploration budget of A$10 million for its Australian regional exploration projects.