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Surefire Resources (ASX:SRN) intersects broad intersections with visible gold at Yidby gold project

Image Source: Surefire Resources Website

Highlights

  • Preliminary drilling MMI gold anomalies have returned broad intersections that yielded visible gold mineralisation in the north-south trending Felsic Quartz Porphyries and foliated Quartz zones.
  • The MMI anomalies are located within the Discovery Zone and represent a whole new gold discovery for Surefire.
  • Extensive testing by Surefire using deeper (RC) drilling fence lines, recorded the intersection of wide gold mineralised zones at Yidby.

Shares of Surefire Resources NL (ASX:SRN) surged 6.25% following the release of an upbeat market update regarding its Yidby gold project.

Preliminary drilling MMI gold anomalies have returned broad intersections that yielded visible gold mineralisation in the north-south trending Felsic Quartz Porphyries and foliated Quartz zones. The MMI anomalies are located within the Discovery Zone, 400m west of the Yidby Road Gold Deposit and represent a whole new gold discovery for Surefire, which substantially expands the footprint of the Yidby Gold Project.

Read Here: Surefire Resources NL (ASX:SRN) provides updates on portfolio projects, shares zoom 23%

Both mineralisation styles have been interpreted as bedding discordant features on the south-western limb of a wide north-west trending antiform. Yidby is a blind discovery and is submerged 20m beneath the barren transported overburden.

Historically, shallow Air-core drilling was undertaken in the area and barely progressed to the depths beyond transported overburden with occasional targeted Reverse Circulation (RC) drillhole. Extensive testing by Surefire using deeper (RC) drilling fence lines, recorded the intersection of wide gold mineralised zones at Yidby.

The Yidby gold project is transected by the Great Northern Highway, within the prominent gold-bearing greenstones. The gold project is surrounded by substantial gold deposits –

  • 1.1+ Moz Minjar Gold Project approximately 65km to the north-west
  • 1 Moz Kirkalocka Gold Project approximately 70km to the north-east,
  • 2.1 Moz Mount Gibson Gold Project 30km to the south (28 July 2021 ASX: CMM)
  • 0.45 Moz Rothsay Gold Project 30km to the west

Surefire traded at AU$0.034 a share on 2 June 2022 with a market capitalisation of AU$44.82 million.


 


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