Sandfire Resources Completes Near-Mine Exploration at Prospects Near Spain Mines; Shares Reach All-Time Peak

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Sandfire Resources (ASX:SFR) said it completed 46 near-mine exploration drill holes at Masa 2 West and Masa Olivo prospects at the Magdalena mine in Spain for 27,972 meters, as well as four drill holes at the La Juliana prospect near the Aguas Teñidas mine in Spain for 2,596 meters, according to a Wednesday Australian bourse filing.

It hit intercepts of 14.4 meters at 0.4% grade of copper, 15% grade of zinc, 4.4% grade of lead, 0.6 grams per tonne (g/t) grade of gold, and 158.1 g/t grade of silver from 307 meters, 5.5 meters at 3.1% grade of copper, 0.1% grade of zinc, 0.1% grade of lead, 0.9 g/t grade of gold, and 7.2 g/t grade of silver from 524 meters, as well as 8.6 meters 1.3% grade of copper, 0.1% grade of zinc, 0.1% grade of lead, 1.3 g/t grade of gold, and 5.8 g/t grade of silver from 556.2 meters, per the filing.

The company said it also completed seven near-mine exploration drill holes at A1 for about 2,045 meters and three drill holes at A4 West for 2,296 meters.

The mining company's shares rose 7% in recent trading on Wednesday and earlier reached their all-time peak.

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