- Surefire has concluded an RC and diamond drilling program at the wholly owned Victory Bore Vanadium Deposit.
- The drilling program included 62 RC holes along with 2 diamond drill holes.
- Victory Bore has an inferred mineral resource of 237 million tonnes with 0.43% V2O5, 24.9% Fe, and 5.9% TiO2.
Surefire Resources NL (ASX:SRN) has concluded an RC and diamond drilling program at the wholly owned Victory Bore Vanadium Deposit. The drilling program included 62 RC holes with a total advance of 5,188m along with 2 diamond drill holes drilled for 292m.
The Victory Bore/Unaly Hill Project is situated within the Midwest mining district, 50km from Sandstone in Western Australia. The mineral project holds one of the largest contained V2O5 (vanadium pentoxide) resources in WA. Victory Bore has an inferred mineral resource of 237 million tonnes with 0.43% V2O5, 24.9% Fe, and 5.9% TiO2.
The infill drilling activity targeted to re-classify the mineral resource to undertake mining studies and collect samples for metallurgical testwork for the Pre-Feasibility Study (PFS). The Pre-Feasibility Study has already commenced.
RC drilling infilled the current inferred mineral resource and targeted to boost mineral resource confidence and inform mining studies in the PFS.
Furthermore, portable XRF analyses were conducted at the project site to guide the drilling. The XRF data is considered to be insufficient for reporting assay results. Surefire remains confident that the preliminary objectives of the drill program had been met. Recently, Surefire revised beneficiation costs for the Scoping Study, confirming the economic feasibility of the project at current prices.
Shares of SRN traded at AU$0.016 a share with a market capitalisation of AU$25.3 million.