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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	SFR
Latest Price:	7.95 (3.52% )
52-week High:	8.52
52-week Low:	5.62
Market Cap:	1,199.50M

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Sandfire Resources

Sandfire Resources (ASX: SFR) is an Australian minerals exploration company focused on generating value through the discovery of a new generation of quality mineral deposits.

The Company had its genesis in the consolidation of a portfolio of tenements in Western Australia and the Northern Territory secured by one of Australia’s most successful prospecting geologists, the late Mr Graeme Hutton.

Sandfire Resources completes drilling at Doolgunna Copper-Gold Project

Tuesday, December 22, 2009

Sandfire Resources (ASX: SFR) shares shot up 11c as the company prepares to wrap up its 2009 diamond drilling programme at the Doolgunna Copper-Gold Project in Western Australia, with the latest results continuing to reinforce the quality of the high-grade VMS deposits at Conductor 1, DeGrussa and Conductor 4.

Following the announcement, shares in Sandfire increased 3.2% to $3.56.

The outstanding results from the latest batch of drilling included 39.5m @ 7.8% Cu, 3.0g/t Au (DGDD-064), 33.7m @ 7.0% Cu, 1.3g/t Au (DGDD-049) and 15.6m @ 4.0% Cu, 2.2g/t Au (DGDD-053).

Assay results have been received for a further nine in-fill diamond drill holes, most of which targeted the near-surface thinner northern portions of the Conductor 1 deposit, while a large number of thick mineralised intercepts continue to be recorded at depth within the central and southern portions of the deposit.

The thinner intersections generally define the up-plunge, near surface portions of the Conductor 1 deposit. This and the large number of thick mineralised intercepts which continue to be recorded from drilling are consistent with Sandfire’s geological model for the Conductor 1 and DeGrussa Deposits.

In addition, assay results have been received from hole DGDD-043, which intersected 4.4m grading 4.2% Cu, 2.7g/t Au, 0.8% Zn and 15.0g/t Ag from a downhole depth of 632.6m on the eastern flank of the Conductor 4 deposit.

This result supports the previously announced results from Conductor 4, which is located immediately adjacent to the DeGrussa and Conductor 1 deposits (17.7m grading 5.4% copper and 1.9g/t gold, 1.2% Zn and 12.9g/t Ag in hole DGDD-035 and 5.1m @ 15.0% copper, 3.7g/t gold from 670.9m in hole DGDD-016).

In-fill diamond drilling has now largely been completed on a 40m by 40m surface drill-hole pattern covering the DeGrussa and Conductor 1 deposits. A total of 88 diamond drill holes have been completed since early July 2009, with the diamond drill rigs stood down for the Christmas and New Year break.

This drilling has generated sufficient data to support Sandfire’s objective of generating an initial JORC compliant Mineral Resource estimate for the DeGrussa and Conductor 1 deposits during the first Quarter of 2010.

Diamond drilling will recommence at Doolgunna on 4 January.

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