Sandfire Resources announced an updated mineral resource and ore reserve estimate for its MATSA asset in the Iberian Pyrite Belt in Spain as of March 31.

The updated mineral resource is 172.8 million tonnes with grades of 1.3% copper, 2.8% zinc, 1.0% lead, and 38.6 grams per tonne silver, totaling 2.2Mt of copper, 4.8Mt of zinc, 1.8Mt of lead, and 215 million ounces of silver, with a net smelter return of US$114/t.

The ore reserve is 38.3Mt at 1.5% copper, 2.6% zinc, 0.8% lead, and 37.3g/t silver, equating to 588 thousand tonnes of copper, 1,003kt of zinc, 315kt of lead, and 45.9Moz of silver, with a net smelter return of US$113/t.

The MATSA processing plant has a capacity of 4.7Mt per annum, focusing on high-value concentrate blends, with ongoing near-mine exploration to extend reserves and mine life.