Iberian Pyrite Belt, Spain and Portugal

Sandfire’s circa 3,200km2 of exploration tenure within the Iberian Pyrite Belt, granted and under application, offers substantial long-term exploration upside and organic growth potential.

Spain
Having successfully confirmed the open-ended nature of known mineralisation at San Pedro (Aguas Teñidas) and Olivo (Magdalena) across the course of FY23, and the broader prospectivity of the region, our team turned its attention to the development of a multi-year plan designed to materially increase our reserves at MATSA over the coming years. We also completed geophysical analysis of the 1,200m hole that was drilled approximately 500m down plunge of the Masa 2 orebody to test the lateral extent of this higher-grade resource that remains open to the west.

Limited surface exploration was undertaken at MATSA beyond near mine activity during the period, with twelve drill holes completed over several regional prospects. The primary focus of the geological team during FY24 has been the collection and interpretation of geophysical data, including completion of a large-scale Airborne Gravity Gradiometry (AGG) survey that has greatly enhanced our ‘belt scale’ 3-D basin model.

Portugal
Sandfire’s joint venture partner in Portugal, TSX-listed Avrupa Minerals Limited, continued to advance its understanding of the Sesmarias massive sulphide target within the Alvalade Project Joint Venture during the period. Four diamond drillholes were completed with further encouraging results being incorporated into the geological model. A nine hole program to test the continuity of high grade mineralisation commenced toward the end of FY24.

Visit our ASX Announcements page  for updates on our exploration projects.