Surefire Resources (ASX:SRN) begins RC drilling at Yidby Gold Project

Highlights

• Western Australia-based Surefire has started reverse circulation drilling at Yidby Gold Project
• The company has said that mineralised system located to date at the site is "extensive"
• The drilling program, expected to be completed within a few weeks, builds on "already exciting gold results”

Western Australia-located mineral exploration company Surefire Resources (ASX:SRN) has begun drilling at its Yidby Gold Project. The project is fully owned by Surefire Resources, and it is located 350 km northeast of city Perth. 

The current program is for 24 holes (reverse circulation), with variable depths to 200 metres. The company will target extensions to the existing gold mineralised intercepts. 

Yidby drilling to build on already exciting gold results

Surefire Resources had informed last month about the booking of a drilling rig with plans to start RC drilling soon at Yidby Gold Project. Read more. Covering nearly 114 square kilometres, the project sits within the southern portion of the gold producing Yalgoo-Singleton Greenstone belt. It is to be noted that this belt is host to some of major gold deposits (multi-million ounces).

Yidby Gold Project showing proximal major Gold Resources

Source: SRN ASX announcement dated 14 March 2023 

Notably, this drilling campaign is planned to follow up on previous new discoveries of Marshall and Fender reported in August last year. SRN has also previously said that the significant features of the gold discoveries at the project include wide downhole mineralisation widths and excellent metallurgy, together with high-grade Au intersections. 

Now, the company has reported the commencement of drilling campaign (24 holes) at the project. The total 2,800 metres of drilling would primarily target extensions to the existing gold mineralised intercepts, besides testing structural targets generated from SRN's magnetic and gravity data, and structural interpretation from CSA Global. 

Surefire maintains that the mineralised system now covers more than 3 km in strike length following Au intercepts at the Yidby, Fender, and Marshall targets. 

Further, Mr Paul Burton, Managing Director of SRN, has commented that the "extent of the anomalism is significant" and thar the company is looking forward to reporting the results of the program that would be completed in a few weeks. 

Source: SRN ASX announcement dated 14 March 2023 

About Surefire Resources 

Surefire Resources is a diverse Perth-based mineral exploration company with interests in Western Australia located vanadium, magnetite and gold projects. 

The company is advancing its Victory Bore vanadium project (critical battery minerals). The project is presently in Pre-Feasibility stage. Notably, Surefire's magnetite project has up to 1B tonnes of high-grade Iron. The Yidby Gold Project is also advancing further as informed by SRN in the latest update on RC drilling and leach test work.  

Stock price performance

ASX listed shares of Surefire Resources, under ticker SRN, were trading at AU$0.018 at the time of writing on 14 March 2023. On a year-to-date basis, the shares have appreciated nearly 80%.