Surefire Resources (ASX:SRN) delineates high priority targets at Perenjori West

Highlights

• Surefire Resources has outlined 15 priority gold and base metal targets at the Perenjori project.
• In December 2021, Surefire was granted tenement E70/5572, covering a largely concealed greenstone of the Koolanooka Greenstone Belt.
• Currently, Surefire is undertaking the first phase of field reconnaissance at the tenement.
• Prior to drilling, Surefire plans to conduct a broader surface geochemical sampling program to collect the reconnaissance samples with anomalous assays results.

Shares of Surefire Resources NL (ASX:SRN) surged ~10.5% to AU$0.032 during the trading session on 10 May 2022 following the release of an upbeat market update by the company regarding its Perenjori project in Western Australia.

The company has reported the results of assessment of historical data and interpretation of aeromagnetic surveys in the underexplored greenstone belt, announcing the delineation of 15 priority gold and base metal targets.

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New unexplored ultramafic belt delineated at Perenjori West

In December 2021, Surefire acquired tenement E70/5572, covering a largely concealed greenstone of the Koolanooka Greenstone Belt. The tenement lies on the renowned southern Murchison Geological Province of the Archaean Yilgarn Craton. The unexplored ultramafic belt was previously unrecognised.

Location of Perenjori West E70/5572 Source: Surefire Resources Announcement 10 May 2022

Perenjori West is located within the West Yilgarn Ni-Cu-PGE Province, which has been witnessing intense exploration activities and also hosts the recently discovered Julimar PGE deposit. The northwest trending belt is interpreted to include lithologies such as acid volcanics, basic volcanics, and gneisses. Towards the west, the belt is confined by cratonic granites.

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In the past, previous explorers such as Anaconda, Sons of Gwalia, BHP, and CRA have focused on the acid volcanic portion of the sequence, targeting gold and Golden Grove Volcanogenic Hosted Massive Sulphides (VMS) style base metal mineralisation. However, weak gold prices and the mixed results soured explorers’ interest in the belt, leaving numerous highly anomalous BLEG gold anomalies untested. Additionally, the prevalent lateritic and soil cover further hindered exploration activities.

Gold anomalies to be targeted

Given the lack of efficient gold exploration history, the area was either poorly tested or was not followed up due to sluggish gold price movement in the past. Anomalous results from different surveys are yet to be tested.

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Surface gold geochemistry anomalies at Perenjori West E70/5572 Source: Surefire Resources Announcement 10 May 2022

The interpretation of the publicly available aeromagnetic data has outlined increasingly mafic lithologies within the basic volcanic package to the west. Furthermore, several felsic and mafic intrusive have been delineated that may as be associated to porphyry intrusions or contact related, gold mineralisation.

The new interpretation opens up the exploration opportunity of the western ultramafics for Julimar-style nickel-copper-PGE mineralisation as previous explorers focused on the eastern acid volcanic unit, considering it as a potential host to Golden Grove style VMS base metals.

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Field reconnaissance in process

Currently, Surefire is undertaking the first phase of field reconnaissance at the tenement. The targets, which were delineated from the aeromagnetic interpretation, are being prospected to sample the locations and also, validate the interpretation. Additionally, historical gold anomalies are also being sampled.  

Prior to drilling, Surefire plans to conduct a broader surface geochemical sampling program to collect reconnaissance samples with anomalous assays results.