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Highlights
- Surefire Resources advanced exploration and technical activities across its project portfolio during the March 2026 quarter.
- The company has identified a new gold prospect named Loot at the Yidby Gold Project.
- Surefire continued metallurgical reviews and mining licence progress at Victory Bore.
- The company maintained engagement with strategic and development partners for downstream processing opportunities.
Surefire Resources NL (ASX:SRNDB) continued advancing its gold and critical minerals portfolio across Western Australia during the March 2026 quarter, With activity spanning gold discoveries, metallurgical assessment and development planning, the company has been balancing early-stage exploration momentum with longer-term project evaluation.
During the quarter, Surefire progressed exploration work at the Yidby and Kadji gold projects while continuing technical and development activities at the Victory Bore Vanadium-Titanium-Iron Project.
The company reported encouraging results from ongoing exploration activities, including the discovery of a new gold prospect named Loot at Yidby. At the same time, the company advanced metallurgical reviews, mining licence applications and strategic partnership discussions forVictory Bore.
Yidby Remains a Core Exploration Asset
The Yidby Gold Project remained a major focus for Surefire during the period as the company continued evaluating new exploration targets north of the existing Yidby gold north. Work completed included inverted gravity geophysics reprocessing and float sampling approximately 1.5 kilometres north of the project area.
The exploration program led to the discovery of a new prospect named Loot and identified a new lithological style of gold mineralisation associated with Albitite rock. The company reported that this style of mineralisation has now been recognised in two separate sample locations approximately 500 metres apart, expanding the prospective exploration corridor at Yidby.
Management noted that the validation of historical exploration work has opened a largely untested two-kilometre gold mineralised corridor that could support further exploration activity.
Loot Prospect Delivers Follow-Up Results
Additional work at the Loot Prospect continued to generate encouraging surface sampling results. Surefire reported that follow-up float rock samples returned assays of up to 13.19 g/t gold along strike. The company also identified on-surface Albitite float rock extending across a strike length of around 165 metres.
All assays collected from this new lithological setting returned gold values, supporting the company’s geological interpretation of the area. The Albitite mineralisation identified at Loot has geological similarities to occurrences associated with major gold systems elsewhere in Western Australia’s Yilgarn Craton.
The company referenced comparable Albitite-related occurrences in areas including St Ives, Binduli and Bardoc near Kalgoorlie. While the early-stage sampling results continue to support exploration potential, further drilling and detailed testing will be required to determine the scale and continuity of mineralisation across the broader corridor.
Kadji Gold Project Follow-Up Work
At the Kadji Gold Project, Surefire focused on reassessing historical geochemical anomalies identified during earlier exploration campaigns. During the period, the company resampled four historical Bleg anomalies originally obtained by BHP during the 1980s.
The program involved testing four separate locations, with five samples collected from each target area. Additional samples were also collected north, south, east and west of the historical sampling points, bringing the total number of submitted samples to 20 for gold and silver analysis.
The work forms part of Surefire’s broader strategy of revisiting historical datasets and integrating modern exploration approaches across prospective but underexplored project areas.
Victory Bore Development Activities Continue
Beyond gold exploration, the Victory Bore Vanadium-Titanium-Iron Project remained a major part of Surefire’s longer-term development strategy. Located in Western Australia’s Mid-West region, the project represents the company’s most advanced critical minerals asset.
During the period, Surefire continued technical reviews of metallurgical test work, which has previously demonstrated the ability to produce high-grade magnetite concentrates with favourable iron, vanadium and titanium grades. The company also progressed its mining licence application while assessing downstream processing and product development pathways.
Surefire maintained discussions with potential strategic, offtake and development partners as it continued evaluating development pathways aimed at balancing project value with capital intensity and execution considerations.
Laboratory assays from the magnetic concentrate produced at Victory Bore returned iron grades of 61.68% Fe, vanadium pentoxide grades of 1.489% and titanium dioxide grades of 9.921%. The company stated that most of the vanadium was recovered within the magnetic fraction, which may support downstream recovery efficiency.
Surefire’s activities during the March 2026 period reflected a balanced focus on exploration growth and project development planning across multiple commodities. Gold exploration at Yidby continued generating new targets and valuable geological insights, while Victory Bore remained central to the company’s critical minerals strategy. As exploration, metallurgical assessments and development studies progress, the company’s next stages are likely to remain focused on resource advancement, technical optimisation and evaluation of commercial pathways across both its gold and critical minerals portfolio.
SRN shares traded at AUD 0.025 at the time of writing on 8 May 2026.
