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Highlights:
- Surefire Resources has identified VMS indicators at the Copper Hill Project in Western Australia.
- Petrographic analysis confirmed copper sulphide mineralisation within syn-metamorphic veins in tholeiitic basalt.
- SRN plans a Moving Loop Ground Electro-magnetic ((MLEM)) survey over the central geochemical zone.
- SRN shares surged 14.3% following the VMS discovery announcement.
Surefire Resources NL (ASX:SRN) has announced the identification of Volcanogenic Massive Sulphide (VMS) characteristics at its Copper Hill Project in Western Australia, based on petrographic analysis. The study has revealed widespread sulphidic veins typical of VMS systems within a tholeiitic basalt submarine volcanic environment.
Following the announcement, the company’s share price surged by 14.3%, reaching 0.4 cents during early trading on 26 February 2025.
Petrographic Analysis and Study Results
After a scout drilling program conducted in December 2024, Surefire initiated a petrographic analysis of reverse circulation (RC) drill chip samples. The study, which combined petrographic analysis of thin sections with NITON pXRF measurements, was conducted by industry expert Dr. Craig Rugless of Pathfinder Exploration. The findings have confirmed the presence of copper sulphide mineralisation within syn-metamorphic veins hosted in the submarine tholeiitic basalt.
Commenting on the results, Mr Paul Burton, Managing Director of SRN, stated: "The results from the petrographic study are encouraging and provide support for our ongoing exploration for a targeted VMS system. It is still early exploration, but the project now has definitive geochemical signatures representative of a VMS system on surface and subsurface. The next step is geophysics which can provide better targeting for follow-up drilling exploration".
Petrographic Study Focus
The petrographic study focused on drill hole PBRC010, which reported the highest copper assays from the reconnaissance drilling campaign. Assay results showed increasing copper concentrations from 32m to 64m depth, ranging from 1,695ppm to 2,010ppm, with the highest grades observed at the bottom of the hole. The petrographic study was conducted on one-metre samples, while reconnaissance drill program used four-metre composite samples.
In addition, anomalous levels of lead, zinc, antimony, and sulphur (up to 2.73%) were detected, further supporting the presence of a VMS system.
Multi-element geochemical checks using NITON pXRF have expanded the geochemical signature, aiding future geochemical assaying campaigns to provide a vector to massive sulphide mineralisation.
Plans for Future Exploration
Surefire plans to conduct a moving-loop time-domain electromagnetic (MLEM) survey, a reconnaissance-style technique designed to identify electrically conductive mineralisation and other subsurface features.
Copper-rich VMS deposits are typically highly conductive, making electromagnetic (EM) surveys an ideal method for discovering potential deposist.
The MLEM survey will include approximately 125 stations across 9 survey lines, utilising 200m transmission (TX) loops with 100m spaced stations.
The survey is expected to commence in March 2025.
