A series of thick intersections from drilling at the DeGrussa prospect gave large intervals of high grade copper and associated gold, silver, zinc and palladium.
Sandfire Resources (ASX:SFR), which had its share price languishing at A5 cents in February ended trading to day at A47¢ -- a rise of 19.5 on the day.
A total of 30 holes were drilled on a 220 metre long grass roots target near a previously discovered gold system.
Better hits included Hole DGRC105 with 47 metres grading 5.3% copper, 20.1 grams/tonne silver and 1% zinc from 93m depth; hole DRGC101 with 22m @ 3.6% Cu, 3.7 g/t gold and 13.4 g/t Ag from 96m, followed at 126m with 18m @ 2.9% Cu, 13 g/t silver, 2.1% Zn and 1 g/t palladium.
These hits were in a sulphide zone where deeper holes terminated in mineralisation.
Sandfire's managing director Karl Simich said downhole EM surveys were underway on completed drill holes with ground-based EM survey planned to define the potential scale of the body prior to further drilling.
The company also reported that intersections within the shallower oxide zone included
Intersections within the oxide zone included: 19m @ 4.2 g/t Au and 19 g/t Ag; 23m @ 2.4% Cu and 3.1g/t; 11m @ 5.3 g/t Au and 9.8 g/t Ag; and one hole with 17m @ 4.1 g/t Au and 8.4g/t Ag, followed by 15m @ 3.1% Cu, 3 g/t Au and 9.7 g/t Ag.
Simich told MineWeb that the company had been exploring an oxide discovery at Doolgunna and decided to drill out into a previously-untested area and, at the recommendation of technical director John Evans, to drill deeper.
Doolgunna is in the Robinson Range, about 150 kilometres north of Meekatharra, and one of the prospects is bisected by the Great Northern Highway (Highway 1). Sandfire's large landholding at Doolgunna takes in some iron ore prospects.
Major oxide gold discoveries in the nearby Glengarry Basin include the Plutonic project (still being mined by Barrick), Peak Hill and Fortnum.
Intierra's Minmet data base shows that Sandfire listed in early 2004 with a package of essentially grass roots prospects - all in Western Australia, except for the Boorooloola zinc-lead-manganese prospect in the Northern Territory.
The company was put together by one of Western Australia's best known and respected geologists the late Graeme Hutton. His son John sits on the Sandfire board.