Sandfire and Pacifico recommence exploration at Borroloola

Company News

by Jessica Amir

Sandfire Resources NL (ASX:SFR) has announced it will fund 49% of Pacifico Minerals Ltd (ASX:PMY) exploration costs for its Borroloola West Joint Venture (BWJV) in the Northern Territory.

The copper and gold producer's JV partner, Pacifico Minerals, will contribute 51% of the exploration costs.

The companies are planning for Diamond and RC drilling in the 2017 field season, to test the Coppermine Creek (copper-cobalt-silver), Mariner (zinc-lead) and Berjaya (zinc-lead) prospects.

Conductivity tests on core containing semi-massive sulphides from Coppermine Creek, will also begin next week and potentially lead to a ground EM (electromagnetic) survey.

Sandfire Resources NL (ASX:SFR) reported a net profit of $46.37 million at 30 June 2016.
 

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