Surefire (ASX:SRN) Reports Thick Gold Zones at Yidby, Maiden Resource in Sight

Highlights

• Surefire Resources has reported thick, high-grade gold intercepts from 4m composite assays at the Yidby Project.
• Mineralised zones up to 108m wide with grades reaching 4.57g/t Au have been confirmed.
• Drilling supports the interpretation of an extensive gold system with mineralisation open along strike and at depth.
• Results pave the way for a Maiden JORC Mineral Resource Estimate.
• A Mining Licence application is being prepared.
• Coarse “nuggety” gold confirmed, with further 1m assays underway for definitive grade analysis.
• Additional prospects including Delaney Well and Cashen’s Find are planned to be advanced.

Surefire Resources NL (ASX:SRN) has released encouraging assay results from its latest reverse circulation (RC) drilling programme at the 100%-owned Yidby Gold Project in Western Australia’s Mid-West region. The results confirmed thick mineralised gold zones with high-grade intervals.

Encouraging Assays

SRN’s drilling campaign comprised 31 RC holes. During the programme, 1m downhole samples were collected from each hole, while composite samples were prepared every 4m. These composites were sent to the laboratory for testing, with the plan to assay the 1m intervals wherever gold anomalism was detected in the 4m results.

Among the most notable intercepts from the initial 4m composite assays are:

• YBRC136: 108m @ 0.62g/t Au from 72m, including 4m @ 2.13g/t Au from 83m, 4m @ 3.93g/t Au from 103m, 4m @ 1.30g/t Au from 115m, 4m @ 0.99g/t Au from 147m and 4m @ 4.57g/t Au from 179.

• YBRC137: 12m @ 1.01g/t Au from 164m, including 4m @ 1.62g/t Au.
• YBRC140: 32m @ 1.09g/t Au from 148m, with 4m @ 2.83g/t Au from 148m, 4m @ 1.07g/t Au from 156m, 4m @ 1.31g/t Au from 168m and 4m @ 1.75g/t Au from 172.
• YBRC120: 12m @ 0.53g/t Au from 24m, including 4m @ 1.13g/t Au.

Notably, the majority of drill holes intersected gold mineralisation at each prospect, with mineralised zones up to 100m wide and grades reaching 4.5g/t Au.

Mineralisation Controls

The Yidby Gold Project hosts gold mineralisation primarily within a continuous Quartz Felsic Porphyry (QFP) unit extending up to 800m in strike and open at both ends. Surrounding the QFP is a hard mafic assemblage that has previously been inconsistently logged as either mafic basalt or ultramafic. Surefire now interprets this peripheral lithology as a metamorphically, chemically, and thermally altered ultramafic unit, classified as a Meta-Ultramafic.

Drilling has confirmed the potential for repeated mineralised zones along strike and at depth within the folded and faulted targets. With most holes averaging only 100m vertically to date, considerable scope for further mineralisation at depth is present.

Gold Grades

The company has identified a coarse gold challenge within the Yidby Gold system, meaning grades from the 4m composite samples are variable and may understate true values. To address this, 1m samples are being collected and submitted for further assays to provide a more accurate measure of gold content.

The 4m composites confirmed the presence of widespread coarse “nuggety” gold within a broader, finer-grained system across the project area, consistent with prior metallurgical studies and earlier composite assays. Laboratory checks, including duplicate and random repeat analyses, highlighted notable discrepancies in reported grades, further demonstrating variability and potential underreporting in the composite results.

To accurately assess true grades, the company is now in discussion with laboratories to undertake definitive tests using Photon Assay, Screen Fire Assay, or Leachable Bottle Roll techniques on the 1m samples.

Resource Estimate and Permitting

With sufficient drilling now completed, the company has appointed a resource consulting geologist to commence work on a Maiden JORC Mineral Resource Estimate. In parallel, SRN is preparing a Mining Licence application for the Yidby project.

Additional Exploration Targets

Beyond the current drill targets, exploration opportunities remain at other prospects which remain underexplored.

• Cashen’s Find, located 2km north, has historic workings with past drilling returning 9m @ 4.17g/t Au from 18m.
• Delaney Well, on the northern boundary of Yidby, also holds historic workings, including previous results of 2m @ 17.7g/t Au.

Both areas are set to benefit from the company’s increasing understanding of the broader Yidby system.

SRN shares traded at AUD 0.001 per share on 4 September 2025.