Shares in Sandfire Resources NL (ASX:SFR)
and Talisman Mining Limited (ASX:TLM)
climbed following an exploration update on the Doolgunna Project.
The miners report diamond drilling has intersected a zone of massive sulphides about 10 kilometres east of Sandfire’s wholly owned DeGrussa Copper mine.
Sandfire says it is very encouraged by the results and follow up diamond drilling will be undertaken as a priority.
Sandfire is earning a 70 per cent interest in Talisman’s Doolgunna Project which forms part of the Greater Doolgunna Project.
Shares in Sandfire Resources climbed almost 9 per cent following the news while Talisman Mining rocketed 106 per cent.
Sandfire Resources reported a net profit of $30.56 million in the first half of the 2015 financial year.