Copper-gold producer Sandfire Resources (ASX:SFR) has commenced a major geophysical study at the Bryah Basin in Western Australia.
The survey comes just two weeks after the company signed a deal with Auris Minerals (ASX:AUR) to spend a minimum of $2 million in exploration costs in 2 years at the highly prospective Western Australian site.
Under the agreement Sandfire has the right to farm in five of the company’s exploration tenements.
Auris is exploring for high-grade copper-gold discoveries and has an exploration portfolio of over 1300 kilometres.
The CEO of Auris says one of the reasons they entered a farm-in deal with Sandfire is because they are extremely motivated to make a new discovery in the Bryah Basin.
Shares in Sandfire Resources (ASX:SFR) are trading up 2.85 per cent to $7.95