Company Information for Sandfire Resources

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Company Statement

Sandfire Resources Limited (ASX: SFR) is a rapidly growing Australian resources company focused on creating superior shareholder value through the discovery of a new generation of high-quality, high-grade mineral deposits.

Sandfire burst into prominence in the first half of 2009 following the discovery of a high-grade VMS copper-gold deposit at its 100%-owned Doolgunna Project, located 150km north of Meekatharra in Western Australia. Because of its high grade and location within a potential emerging copper-gold mineralised VMS camp, Doolgunna is emerging as one of the most exciting new mineral discoveries seen in Western Australia in recent times.  

Sandfire also has a pipeline of commodity projects in Western Australia and the Northern Territory including advanced manganese, iron ore, gold and base metal projects.

Current Operations

A program of aggressive resource definition and step-out diamond drilling is underway at the Doolgunna Project to establish the scale and potential of this exciting new discovery.

To date, at least two overlying zones of high-grade copper-gold mineralisation have been delineated, called DeGrussa and Conductor 1. The copper-gold mineralisation is open in most directions. Drilling is continuing with the following key objectives:

• To complete a close-spaced drill-out of the high-grade copper-gold mineralisation identified at the DeGrussa Deposit, including a series of deeper holes to test the steep, south-westerly plunging deposit. This work is expected to underpin an initial JORC compliant resource estimate which Sandfire is aiming to complete before the end of 2009;
• To assess the Conductor 1 copper-gold deposit, defining the lateral limits of the mineralisation and determine the potential depth continuity of the deposit;
• To test the immediate surrounds of the DeGrussa Deposit for further copper-gold-zinc lodes;
• To undertake reconnaissance testing of several identified VTEM targets along the 22km strike length of the approximately 2km wide volcano-sedimentary sequence at the top of the Narracoota Volcanics, the prospective stratigraphy within Sandfire’s tenement holding which hosts the DeGrussa and Conductor 1 deposits.

Geographical Spread

Sandfire has a high-quality portfolio of copper-gold, gold, manganese, zinc-lead-silver, iron ore and uranium exploration projects in Western Australia and the Northern Territory.



Many of these projects, including the 395 sq km Doolgunna tenement package, were originally pegged by the Company’s founder, the renowned Australian prospecting geologist, the late Graeme Hutton.



Sandfire’s portfolio includes:



•The 395 sq km Doolgunna Project in Western Australia, encompassing the high-grade Copper/Gold DeGrussa and Conductor 1 Deposits as well as 22km strike length of the prospective Upper Narracoota Volcanics; and



•The +14,000 sq km Borroloola Project in the Northern Territory which is prospective for McArthur River style zinc-lead-silver deposits, Groote Eylandt-style cretaceous manganese deposits, high-grade iron ore and uranium.

Board of Directors and Key Management

Derek La Ferla	Non-Executive Chairman
Karl M Simich	Managing Director
W. John Evans	Technical Director
Robert Scott	Independent Non-Executive Director
Jonghun Jong	Non-Executive Director
John R. Hutton	Non-Executive Director
Matthew Fitzgerald	Company Secretary

Company Address Level 2, 31 Ventnor Avenue West Perth, Western Australia, Australia 6005 Telephone: +61 8 6430 3800 Facsimile: +61 8 6430 3849 Email: admin[at]sandfire.com.au Website: http://www.sandfire.com.au

Capital Ordinary Fully Paid Shares; 95,240,2601 Ordinary Contributing Shares ($0.15 unpaid); 11,862,616 Unquoted Options; 10,540,000

Annual General Meeting 27 November 2009

Year End 30 June

Broker/Analyst Reports

16/09/09 - Sandfire Resources By Bell Potter Securities Ltd

Major Shareholders

POSCO	17.5%
Founders/Board	15.6%
High Net Worth	15.0%

Related News

16/07/10 - Sandfire Resources Is On Fire, As The Doolgunna Copper-Gold Discovery Grows And Grows
03/03/10 - Sandfire Sets Early 2012 As The Target Date For First Metal Production From Doolgunna
08/12/09 - On The Ground At Doolgunna, Sandfire Is Racing Towards Wrapping Some Resource Numbers Around Its Stunning Drill Hits
09/07/09 - Sandfire Resources Offers Investors Some Very Rich Rock At Doolgunna, And Some Seriously Weird Geology Too

Most Recent Statement

03/09/10 - DeGrussa Resource Jumps to 600,000t of Copper
03/09/10 - Trading Halt
30/07/10 - Appointment of Independent Non-Executive Director
30/07/10 - Quarterly Activities Report
30/07/10 - Quarterly Cashflow Report
23/07/10 - Capital Raising, Strategic Alliance and Sales Agreement