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Highlights
- Surefire has identified the new LOOT Prospect approximately 1.5km north of the Yidby Gold Deposit through geophysical reprocessing and surface sampling.
- On surface float rock samples collected from a previously unexplored area in a distinct Felsic lithology returned gold grades of up to 12.04 g/t Au, confirming a new mineralisation at Yidby.
- Follow-up sampling delivered assays of up to 13.19 g/t Au, with on-surface Albitite float rock identified over a strike length of approximately 165m.
- All assays from the newly identified Albitite-hosted mineralisation returned gold values.
- Surefire is preparing a 10,000m reverse circulation drilling program to test mineralisation extensions and evaluate newly identified exploration targets.
Recent exploration activities at Surefire Resources NL’s (ASX:SRN) Yidby Gold Project in Western Australia have generated new targets and enhanced the company’s understanding of gold mineralisation across the project area. The latest field programs have led to the discovery of the previously unrecognised LOOT prospect, while follow-up sampling has continued to return encouraging high-grade assay results.
These developments are strengthening exploration potential of Yidby, a key exploration asset within the company’s portfolio of gold, copper and critical minerals projects.
New Gold Discovery Expands Exploration Potential
The LOOT Prospect was identified through a program of inverted gravity geophysics reprocessing and surface float sampling of nearly 1.5km north of the Yidby Gold Project.
Initial sampling from the prospect, announced in March 2026, returned assays of 12.04 g/t Au, 3.66 g/t Au and 1.70 g/t Au from surface float rock samples hosted within a distinct felsic Albitite lithology. The exploration campaign was designed to follow up historical reports from the 1970s that documented gold-mineralised intrusive rocks with results of up to 10.56 g/t Au.
This newly identified style of gold mineralisation, hosted within albitite rock, has now been confirmed at two sample locations approximately 500 metres apart. The results indicate the presence of gold mineralisation beyond the existing Yidby deposit area.
Follow-Up Sampling Delivers Higher Grades
To better define the orientation of the newly identified on-surface gold mineralisation, Surefire undertook further exploration work along strike at the LOOT Prospect.
Assay results announced in April 2026 delivered additional gold values, including grades of up to 13.19 g/t Au from on-surface float rock samples. The company reported that on surface Albitite float rock has now been identified over a strike length of approximately 165 metres, with all collected samples returning gold values.
The latest results build on the initial discovery and provide further evidence of gold mineralisation associated with the Albitite host rock.
Albitite Emerges as a Key Exploration Target
Gold mineralisation at both the LOOT and Cashens Find prospects occurs within a fine-grained felsic Albitite unit containing relict sulphide textures. Albitite forms through sodium metasomatism (albitization) of precursor rocks, and at Yidby, it is interpreted to be associated with fault systems, shear zones and fracture corridors within the high-grade metamorphic terrane. Current observations suggest the mineralised system could extend beyond the identified zones both laterally and at depth.
Upcoming Drilling to Unlock Further Growth Potential
Surefire is advancing preparations for a two-stage reverse circulation drilling program of approximately 10,000 metres. The campaign is planned to test extensions of the main Yidby mineralisation, evaluate north-south continuations at the Cashens Prospect, and investigate newly generated geophysical targets at Copper Hill.
Recent discoveries and follow-up results have expanded the exploration focus at the Yidby Gold Project, with the identification of gold-bearing Albitite opening new areas for investigation beyond the known deposit. As drill planning and geophysical work progresses, Surefire will continue evaluating the extent of mineralisation across the project and advancing exploration activities aimed at defining future resource opportunities.
SRN shares traded at 0.025 AUD on 16 June 2026, up nearly 9%.
