Sandfire Resources America Announces Appointment of Chief Financial Officer and Provides Further Progress Update on Black Butte Copper Project, Montana
- Experienced finance executive John McGonigle joins as Chief Financial Officer.
- Another key addition to Sandfire America’s team as it prepares to construct the Black Butte Copper Project in Montana.
- Draft EIS open for public comment from March 11 to May 10th, 2019 with link to documents provided.
- Autumn/Winter drilling completed on March 6, 2019.
White Sulphur Springs, Montana– April 1, 2019 – Sandfire Resources America Inc. (“Sandfire America” or the “Company”) is pleased to advise that it has appointed highly experienced international mining executive John McGonigle as Chief Financial Officer as it continues to build its senior leadership team ahead of the planned construction and development of its underground Black Butte Copper Project in central Montana, USA.
Mr. McGonigle is an internationally experienced mine controller who was most recently the Chief Financial Officer of Lundin Mining Corporation’s Eagle Mine in Champion, Michigan. Prior to that, he spent 19 years with Newmont Mining Corporation with vast experience in Ghana, Indonesia, and the U.S. Mr. McGonigle holds a Bachelor of Accountancy and a B.B.A. in Finance from New Mexico State University.
In welcoming Mr. McGonigle to the Sandfire America team, CEO Rob Scargill said:“John’s extensive financial and commercial expertise will be an invaluable addition to our Montana-based team as we enter the next phase of constructing our showcase underground copper mine. John has worked with highly accomplished mine-building teams around the world and he has a strong track-record of balancing strong mine economics with community investment.”
The Company is also pleased to provide an update on permitting activities for the underground Black Butte Project. On March 11, 2019 the Company was issued a Draft Environmental Impact Statement (“Draft EIS”) by the Montana Department of Environmental Quality (“MT DEQ”).
The Draft EIS is subject to a full 60-day comment period including four public forums, with comment submission ending on May 10, 2019. Links to the Draft EIS and to provide comment on the Draft EIS are located on the homepage of the Company’s website: www.sandfireamerica.com.
The Company completed its 2018-2019 Autumn/Winter drill program on March 6, 2019.
This drilling program gathered further resource geotechnical and hydrogeological data to support the Feasibility Study and to increase the level of geological confidence in the projected initial mining zones. All initial logging and sampling is completed and the Company is now carrying out data analysis and modelling.
Sandfire Resources America Inc.
Nancy Schlepp, VP ofCommunications
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this document constitute “forward looking information” within the meaning of Canadian securities legislation, including statements regarding the Company’s proposed name change and plans for advancing the Black Butte Copper Project, and expected outcomes. In making these forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company will receive required regulatory approvals for the proposed name change, that the Company will continue to be able to access sufficient funding to execute its plans, that the Company’s plans for tailings and water management will be implemented as expected and will have the intended benefits and that the results of exploration and development activities are consistent with management’s expectations. However, the forward-looking statements in this document are subject to numerous risks, uncertainties and other factors, including factors relating to the Company’s operation as a mineral exploration and development company and the Black Butte Copper Project, that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including that the Company will not receive required regulatory approvals for the proposed name change when expected or at all, that results of exploration and development activities will not be consistent with management’s expectations, delays in obtaining or inability to obtain required government or other regulatory approvals or financing, failure of plant, equipment or processes to operate as anticipated, the risk of accidents, labor disputes, inclement or hazardous weather conditions, unusual or unexpected geological conditions, ground control problems, earthquakes, flooding and all of the other risks generally associated with the development of mining facilities and the operation of a producing mine. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.