Inside Surefire Resources’ (ASX:SRN) 2022 developments at WA exploration assets - Kalkine Media

Highlights:

• The year 2022 has been a very busy period for Surefire (ASX:SRN), which executed a gamut of exploration and development activities across its diversified mineral project portfolio
• Metallurgical test work at the Yidby Gold Project delivered outstanding gold recoveries of 97.6% to 99.5%
• The company unveiled huge true widths & bulk mining capabilities of the Victory Bore vanadium project
• Let us explore the key achievements of Surefire in 2022

Surefire Resources NL (ASX:SRN) witnessed a busy period throughout 2022 with many high points achieved that added lustre to its diversified project portfolio.  

The company’s four fully owned Western Australian projects saw year-round exploration and development activities, including exploration drilling at the Yidby Gold Project and development infill drilling at Victory Bore in preparation to complete a Prefeasibility Study (PFS).

Moreover, the company unveiled high-grade Pb and Ag assays from reconnaissance exploration at the Kooline project and the advanced approval process for commencing PFS infill drilling at the Perenjori project.

Yidby Gold Project: excellent gold recoveries

Surrounded by several significant gold deposits, the Yidby Gold Project saw many key developments during the period.   

(Image source: Company update, 31 October 2022)

The company worked on Mobile Metal Ions (MMI) gold anomalies, resulting in wide gold intersections and high grades of up to 10.4 g/t Au. The gold mineralised footprint at Yidby increased significantly with the discovery of the Fender and Marshall prospects.

Moreover, Surefire reported the results of sighter-level metallurgical test work on project mineralisation in November. The results displayed remarkable gold recoveries between 97.6% and 99.5% from gravity and cyanide leach, with most of the gold extracted between 2 and 4 hours.

November saw another major development as the company wrapped up a diamond drilling program at the project. Also, logging operations were completed by an independent structural expert from CSA Global.  

Huge true widths and bulk mining capabilities shape Victory Bore into a world-class vanadium deposit

Victory Bore, the Western Australia-located project, saw significant developments during the year. This included the recent results of a 5,189m Reverse Circulation (RC) drilling campaign that boosted the company’s confidence in the project.

(Image source: Company update, 15 December 2022)

Surefire submitted 2,594 samples and received the initial 910 drilling assay results, which highlighted wide vanadium intersections with widths of up to 92m @ 0.41% vanadium pentoxide.

The assay results also defined three thick and consistent vanadium lodes with a combined width of 154m.

• Lode 1, the main lode, has a true width of up to 56m @ up to 0.45% vanadium pentoxide
• Lode 2, the central lode, has a true width of up to 38m @ up to 0.42% vanadium pentoxide
• Lode 3, the west lode, has up to 60m of true width @ up to 0.23% vanadium pentoxide

Perenjori eyes drilling for resource category upgrade and PFS samples

Surefire has planned a 5,000m RC infill drill program at the under-explored and highly prospective Perenjori iron ore project. The company is awaiting the final Program of Works and Native Vegetation Clearing Permit to pursue drilling.

The infill drill program is designed to upgrade the resource category and provide samples for metallurgical test work as part of the upcoming Prefeasibility Study (PFS).

The project has an exploration target of 870 million to 1,240 million tonnes at a grade of 29% to 41% iron, excluding the inferred resource.

(Image source: Company update, 31 October 2022) 

Rock chip sampling and mapping indicate high-grade Pb-Ag at Kooline

In September, the company released results from reconnaissance rock chip sampling and mapping, which highlighted high-grade Pb-Ag assays reaching values up to:

• 2% lead & 41g/t silver
• 2% lead & 55g/t silver

As per the results, the high grades are associated with a large-scale electromagnetic conductor at the Mt Conspicuous target, interpreted as buried sulphide mineralisation.

To conclude, the calendar year 2022 has been action-packed for Surefire, which saw some outstanding results, boosting confidence in its Western Australian project portfolio.

SRN shares were trading at AU$0.012 in the early hours of 5 January 2023, up more than 9% from the last close.