Surefire Resources’ (ASX:SRN) Latest Milestone: Maiden Drilling Program At Yidby Gold Project Concluded

  • November 06, 2020 08:18 PM AEDT
  • Team Kalkine
    Team Kalkine
    Team Kalkine
    16991 Posts

    Team Kalkine comprises of experts who understand various markets nuances and are enthusiastic and passionate to provide best possible offerings in the form of insights and stories. The team has rich experience of working across different markets with...

Surefire Resources’ (ASX:SRN) Latest Milestone: Maiden Drilling Program At Yidby Gold Project Concluded

Summary

  • Surefire Resources has managed to successfully complete its maiden reverse circulation (RC) drilling campaign at the lucrative and recently acquired Yidby Gold Project.
  • Yidby Road, Cashen’s Find and Delaney Well prospects were drilled in the program.
  • Drilled holes reported strong veining with metal sulphide mineralisation, along with shearing, alteration and veining.
  • The Company is due to hold its 2020 Annual General Meeting on 23 November 2020 in Perth.

Market participants are keeping their vigilant gaze fixed on Surefire Resources NL (ASX:SRN) as the company continues to make progressive developments.

In its most recent announcement on the ASX, Surefire Resources informed that it had managed to successfully complete its maiden reverse circulation (RC) drilling campaign at the lucrative and recently acquired Yidby Gold Project.

It should be noted that the Yidby Gold Project had all three tenements granted during the September 2020 quarter. Ever since, work has been accelerated- be it attaining approvals or making necessary preparations for a maiden drilling campaign, now accomplished.

Significant Observations from Maiden RC Drilling at Yidby Gold Project

The drilling targeted substantial and high-grade gold intersections from historic drilling at the Yidby Road, Cashen’s Find and Delaney Well Prospect areas.

Significant observations have been described below-

  • Most of the drilled holes reported strong veining with metal sulphide mineralisation, similar to descriptions in reports on historic drilling.
  • There were strong indications of shearing, alteration and veining in 9 of the 12 holes drilled at Yidby Road Prospect.
  • Mineralisation and veining were observed in all holes at Delaney Well and Cashen’s Find Prospects.
  • Massive quartz-carbonate veining up to 35m in down-hole width was intersected.

Significant Observations From Drilled Prospects

Yidby Road Prospect

  • 12 holes were drilled with the deepest being 160m.
  • The drill holes included YBRC001 to YBRC012 for an aggregate of 1,225m.
  • Holes typically encountered a 10m to 20m thick layer of pisolitic transported material, and then through weathered in-situ bedrock and clay saprolite down to ~ 40-50m.

 

Cashen’s Find Prospect

  • Cashen’s Find is ~ 1.8km to the north of Yidby Road.
  • Three RC holes, CHRC001-CHRC003 were drilled targeting the mains artisanal costean referred to as Cashen’s Find.
  • Historic drilling targeted this working which resulted in-

 

Delaney Well Prospect

  • Five holes were drilled (DWRC001 to DWRC005) for 312m down to a maximum depth of 72m.
  • The holes were targeting a north-south trending shear zone with several excavations along its strike length.
  • Historic drilling reported the below significant and high-grade results-

 

 

Let us walk through individual observations from the three prospects that were targeted in the maiden RC drilling at the Yidby Gold Prospect-

Image: © Kalkine Group 2020, Source: SRN’s ASX Report, 06 Nov 2020

 

DON’T’ MISS: Robust September 2020 Quarterly Activities Report

Yidby Gold Project RC Drilling Overview

Owing to the contractor availability delay, initial progress was slow to moderate with average daily penetration of ~100m, and drill holes were collared at -60 degrees dip. The azimuth of holes was towards the east and west.

Samples were taken as composites of 3m or 4m with 1m splits. Besides, they were also collected where veining, alteration, and/or metal sulphide mineralisation was present.

The Company collected and sent 777 samples to NAGROM Laboratories for multi-element analysis. Of the total samples, 301 were 1m splits with the rest being the 4m or 3m composites.

On the ASX, SRN quoted $ 0.029 a share on 6 November 2020. The Company is scheduled to conduct its 2020 Annual General Meeting on 23 November 2020 in Perth.

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK