# Sandfire Resources America Announces Results of Updated Pre-Feasibility Study for the Johnny Lee Deposit and Updated Mineral Resource for the Lowry Deposit at the Black Butte Copper Project

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/sandfire-resources-america-announces-results-of-updated-pre-feasibility-study-fo--f225818e-8d2d-4680-8ab3-81977f658e13

Original source: https://finance.yahoo.com/news/sandfire-resources-america-announces-results-100000138.html

Publisher: yahoo\_press

Original announcement: 2025-12-16T10:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Sandfire Resources America Inc.

- Ticker: SFR

- Exchange: TSXV

- Region: Montana, USA

- Primary commodity: Copper

- Secondary commodities: None reported

- Document categories: Resource update, Production

- Extracted: 2026-08-21 03:49:57 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Sandfire Resources America has released an updated Pre-Feasibility Study for the Johnny Lee Deposit, reporting a Probable Mineral Reserve of 9.5Mt at 2.9% Cu. Additionally, a new Mineral Resource estimate has been completed for the nearby Lowry Deposit at the Black Butte Copper Project in Montana.

Reasoning: The announcement provides significant updates to both a reserve \(Johnny Lee\) and a resource \(Lowry\), establishing a clear economic baseline for the Black Butte project.

- Positive factor: High-grade copper reserves reported

- Positive factor: Updated PFS provides project de-risking

- Positive factor: New mineral resource for nearby deposit

Facts used in scoring: 1

## Classification and evidence

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: The document explicitly reports a Probable Mineral Reserve for the Johnny Lee Deposit.

Evidence · text

> Probable Mineral Reserve for the Johnny Lee Deposit of 9.5Mt at 2.9% Cu

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The announcement includes a new Mineral Resource estimate for the Lowry Deposit.

Evidence · text

> new Mineral Resource estimate for the nearby Lowry Deposit

**PFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: The resource and reserve updates are part of an updated Pre-Feasibility Study.

Evidence · text

> Updated PFS for the Johnny Lee Deposit

## Extracted facts

Stored fact records: 1. Some facts used in scoring do not have a stored record.

## Resource Estimates (1)

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/sandfire-resources-america-announces-results-of-updated-pre-feasibility-study-fo--f225818e-8d2d-4680-8ab3-81977f658e13#fact-resource-facts-0)

copper

#### Identity

- Commodity: copper
- Ticker: SFR

#### Resource Data

- Category: probable
- Tonnes: 9500000
- Grade: 2.9
- Grade Unit: %
- Contained Metal: 270000
- Contained Unit: t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-16T00:00:00.000Z

Reasoning: 2.9% Cu is a high-grade reserve for an underground copper deposit.

- Positive factor: Strong grade for underground copper

Evidence · text

> Probable Mineral Reserve for the Johnny Lee Deposit of 9.5Mt at 2.9% Cu for 270,000t of copper

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.