Surefire (ASX:SRN) informs about positive outcomes of environmental survey at Victory Bore Project

Highlights

• No plant taxa identified were gazetted as Threatened Flora under the EPBC Act or the BC Act
• SRN Managing Director Paul Burton lauded the development, mentioning it as a "significant milestone" in the approvals process for the project
• Surefire had also recently updated resources and exploration target of the Victory Bore project (vanadium resources)

ASX-listed and Western Australia-based exploration company Surefire Resources (ASX: SRN) -- with licences for varied mineral projects including vanadium, magnetite and gold -- has informed about positive outcomes from the environmental survey completed at its fully owned Victory Bore project (vanadium). The company confirms that no Threatened Flora species were recorded in the survey done by Onshore Environmental Consultants Pty Ltd.

Source: SRN ASX announcement dated 18 April 2023

The company's shares traded at AU$0.024 at the time of writing on 18 April 2023, with SRN's market cap nearly AU$38 million.

The development

Vanadium, Magnetite and Gold exploration company Surefire has completed the Environmental Survey at its Vanadium focused Victory Bore Project. The survey was conducted by Environmental Consultants, which undertook the task in November last year. It included detailed flora and vegetation survey, alongside desktop vertebrate fauna assessment. Surefire has stated that none of the plant taxa are gazetted as under the EPBC Act and the BC Act.

The survey also recorded five introduced species, with none of these listed as under the BAM Act. The vegetation types, which represent multiple broad floristic formations, were also found, with none of these aligned with commonwealth or state listed TECs, or state listed PECs documented from the Murchison bioregion.

The company is moving ahead with the permitting and approvals for the project, alongside working on the Pre-Feasibility study (PFA) and test work producing High Purity Alumina. Surefire Resources also lately updated the resources and exploration target and informed about Victory Bore’s “robust mineral resource of world class status”.

Statement

The company's Managing Director has declared the findings of the survey as a "significant milestone" in the progress toward approvals process for the vanadium Victory Bore project. He has also said that there are "no impediments", with the company now moving toward the stage of getting the mining licence. Separately, he has also commented on the rising prices of vanadium and adoption of Vanadium Redox Batteries.