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Highlights
- Surefire Resources has completed RC drilling at the Yidby Gold Project.
- A total of 31 RC holes were drilled at Yidby, targeting high-priority prospects including Fender, Marshall, and the Money Anomaly.
- A moving loop EM survey was commenced at Copper Hill to identify VMS-style copper sulphide mineralisation.
- Petrographic studies confirmed the presence of chalcopyrite and multiple trace elements consistent with VMS affinities.
- The company announced a non-renounceable rights issue of up to AUD 3.88 million and held AUD 314,000 in cash at June end.
Surefire Resources NL (ASX:SRN) has reported progress across its gold and copper projects for the June 2025 quarter. Key developments include the completion of drilling at the Yidby Gold Project and encouraging VMS-style copper anomalies at the Copper Hill Prospect. Additionally, the company rolled out a moving loop EM survey at Copper Hill to identify VMS-style copper sulphide mineralisation.
The company also launched a non-renounceable rights issue of approximately AUD 3.88 million to support its ongoing exploration and development strategy.
Drilling Momentum at Yidby Gold Project
The company’s exploration efforts during the quarter focused on its Yidby Gold Project, where a reverse circulation (RC) drilling program targeted several high-priority zones, including Fender, Marshall, and the main Yidby prospect, along with the Money Anomaly located 1.5km south of Yidby.
As part of the RC drilling, 31 holes were drilled, covering 3,972m, revised from the initially planned 42 holes, with the remaining holes deferred for future diamond drilling. In total, 964 composite samples taken at 4-metre intervals have been submitted for analysis, with initial assay results anticipated in August.
The company plans to integrate results from the current and past drilling campaigns to model gold mineralisation for an upcoming Scoping Study.
The study will be supported by metallurgical test results obtained so far. The test work confirmed that gold mineralisation at Yidby demonstrates exceptional recoveries, with cyanide leach tests achieving 97.6% to 99.5% recovery rates. In addition, simple gravity separation yielded recoveries ranging from 43.2% to 67.0%.
Copper Hill Prospect Enhances VMS Potential
In parallel, the company advanced exploration work at its Copper Hill Project. During the quarter, a moving loop ground electromagnetic (MLEM) survey was initiated. The goal of the survey is to identify massive or disseminated sulphide mineralisation.
Previous scout drilling and geochemical sampling at the project confirmed the copper sulphide mineralisation presence in a Volcanogenic Massive Sulphide (VMS) setting. These findings were further supported by petrographic analysis of rock chips, which identified chalcopyrite and trace elements such as copper, zinc, niobium, cadmium, antimony, and molybdenum with VMS affinities.
The MLEM survey was conducted over a two-week period by Southern Geoscience using advanced high-sensitivity instruments to detect deep and weakly conductive targets. This geophysical work is aimed at outlining and prioritising conductive anomalies linked to copper sulphide mineralisation for follow-up drilling.
Capital Raising and Financial Position
During the quarter, the company launched a non-renounceable rights issue to raise up to AUD 3.88 million, offering eligible shareholders two new shares for every three held, along with bonus shares and options.
As of 30 June 2025, the company held cash reserves of AUD 314,000.
SRN shares traded at AUD 0.002 per share on 1 August 2025.
