Sponsored

Surefire’s (ASX:SRN) Victory Bore exploration target estimate confirms world-class vanadium project - Kalkine Media

March 07, 2023 01:46 PM AEDT | By Manisha
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

Highlights

  • The SRN stock jumped over 20 per cent on 07 March 2023. 
  • Ticking off a major upgrade, Surefire Resources has announced the Exploration Target Estimate (ETE) for the Victory Bore vanadium project. 
  • The ETE has been derived as a lower and upper limit range of 682 Mt to 1,190 Mt @ 0.2% to 0.43% V2O5.
  • According to SRN, Victory Bore’s MRE along with the ETE takes the project’s potential in a range of 1,003Mt to 1,511Mt @ 0.2% to 0.43% V2O5, making it world class and potentially one of the world’s largest vanadium resources.

ASX-listed diversified mineral exploration company Surefire Resources NL (ASX:SRN) has accomplished a significant development concerning its 100% owned Victory Bore Project, after an independent assessment and calculation of an Exploration Target Estimate (ETE).

The ETE was commissioned post a recent Victory Bore mineral resource estimate (MRE) to 321 Mt @ 0.39% V2O5 and SRN’s immense knowledge of vanadium from its past activities relating drilling and metallurgical work.

The company says that when MRE is added to the ETE, the status of the Victory Bore Project changes to world class and potentially one of the world’s largest vanadium resources. The potential of the project falls in a range of 1,003Mt to 1,511Mt @ 0.2% to 0.43% V205.

Data source: company update

SRN shares jump 20%

SRN shares drew attention from the market participants on Tuesday, 07 March 2023, as seen by the upward momentum in its price. The stock price was up over 12 per cent and traded at AU$0.018 in the morning trading session today.

Victory Bore vanadium project - World-class status

Data source: company update

3D modelling was completed using the aeromagnetic data for the Victory Bore (E57/1036) and Unaly Hill (E57/1068) tenements by inversion aimed to model the causative magnetic bodies on the tenements for the ETE.

The Victory Bore and Unaly Hill prospect areas are collectively called the Victory Bore Project, which covers an approximate 25km strike length of near contiguous vanadiferous magnetite defined from aeromagnetic data, drilling and outcrop.  

Spread over 87.5 square kilometres covering two exploration licences, the project is located 450km from Perth in Western Australia.

Surefire’s plans for Victory Bore vanadium project

The ASX-listed company is conducting a Prefeasibility Study on the project. Further, SRN will consider the recommendations to drill test the ETE. Also, it will be included with any future drilling requirement as part of this study (if required).


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

5 ASX Companies Leveraging AI to Drive Growth in 2024



Top ASX Listed Companies


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.