Highlights

  • Sandfire Resources (ASX:SFR) has reported follow-up holes extending zinc-rich massive sulphide at La Juliana, including CCM-91 at 22.5m at 0.9% copper, 15.4% zinc and CCM-94 at 30m at 0.4% copper, 10.1% zinc.
  • La Juliana lies approximately 700 metres southeast of existing underground development at the Castillejitos orebody within the MATSA hub in Spain.
  • Drilling has now defined approximately 160 metres of massive sulphide strike, with DHEM surveys suggesting potential extension to at least 350 metres.
  • A second drill rig is scheduled to arrive in H2 FY27 to test the wider 2-kilometre prospective corridor.

Follow-Up Holes Extend La Juliana

Sandfire Resources is drilling a potential new discovery at La Juliana, approximately 700 metres southeast of its Castillejitos orebody within the MATSA copper-zinc mining hub in Spain's Iberian Pyrite Belt. Discovery hole CCM-90, reported in August, returned 14.4 metres at 0.4% copper, 14.5% zinc, 4.4% lead and 158.1g/t silver. Follow-up holes CCM-91 (22.5m at 0.9% copper, 15.4% zinc from 310.5m), CCM-94 (30m at 0.4% copper, 10.1% zinc) and CCM-92 (22.2m at 1.0% copper, 12.0% zinc from 415.8m) have extended and confirmed the system.

Strike and Depth Potential

Drilling has now defined approximately 160 metres of massive sulphide strike, with the system remaining open along strike and down dip. Downhole electromagnetic surveys suggest the sulphides could extend for at least 350 metres, and Sandfire considers the broader prospective horizon may run for up to two kilometres. The DHEM approach has also been validated: an anomaly modelled below CCM-95 was subsequently intersected by CCM-92.

Second Rig to Test the Corridor

Sandfire is scheduling a second drill rig to arrive at La Juliana in the second half of FY27 to test whether the system transitions into more copper-rich zones and to step out along the broader two-kilometre corridor. Recently granted mining concessions have enabled a new platform for step-out holes. A further eight concession requests remain pending.

Proximity to Infrastructure

La Juliana's location approximately 700 metres from existing MATSA underground development makes it potentially significant for a producing company seeking to extend mine life. Any successful development would benefit from the existing processing hub and infrastructure, though the prospect has been tested by only a small number of holes and has no mineral resource.

Next Steps

Outstanding gold assays for CCM-92 are pending. Sandfire plans a DHEM survey on CCM-92, geological and structural interpretation to rank targets, and continued step-out drilling. CEO Brendan Harris said the results have increased confidence that La Juliana may be part of a larger mineralised system.