High Grade Copper Intersections At The Black Butte Copper Project

WHITE SULPHUR SPRINGS, MT - Sandfire Resources America Inc. reported diamond drill results of the successful 2021-2022 Lowry Resource Definition core drilling program on its Black Butte Copper Project. The company completed sixteen new core holes for 8,936 meters of core. Highlights of the Lowry Zone Resource Definition program include the following drill intersections: SC21-268 intercepted 36.3 meters of 2.86% copper and 16.5 g/t silver in the Lowry Middle Copper Zone (LMCZ); SC21-265 intercepted 30.58 meters of 2.7% copper and 10 g/t silver in the LMCZ; SC22-277 intercepted 13.51 meters of 3.93% copper and 17.4 g/t silver in the Lowry Lower Copper Zone (LLCZ); and SC22-274B intercepted of 8.36 meters of 4.30% copper and 9.2 grams silver in the LLCZ.

Drilling in the Lowry Middle Copper Zone largely confirmed grades and thicknesses of previous drilling, defined resource edges more clearly, and infilled gaps within the previous drill pattern. Drilling in the Lowry Lower Copper Zone delineated an area with somewhat higher copper grades which remains open for further expansion. Several holes intercepted copper mineralization above the LMCZ in the Lowry Upper Copper Zone. The results of this drilling will support a Lowry Pre-Feasibility Study planned for completion in 2023. Additional work for the prefeasibility study will include hydrologic, metallurgical, mining, and geotechnical studies.

Senior VP Jerry Zieg, said, “The success of this drill program increases the scale and quality of the Lowry copper deposit and adds significant value to the Black Butte Copper Project. It represents a future opportunity for additional copper production with minimal impact to our disturbance footprint. Protecting the environment while providing benefits to all our stake holders remains central to our strategy.”

Black Butte Project site showing proximity of the Lowry Deposit to the Johnny Lee Deposit and proposed mine surface facilities.