- Surefire Resources NL has base metal and gold exploration assets in Western Australia.
- The Company believes that Australia offers an extraordinary opportunity for resource development.
- Surefire Resources has been making significant progress across its project portfolio.
- The Company recently announced significant, high-grade intersections from drilling at the recently acquired Yidby Gold Project.
While coronavirus pandemic curtailed exploration field activities, Surefire Resources NL (ASX: SRN) spent considerable time for data interpretation from its existing projects. Also, the company assessed and appraised a slew of new project opportunities across number of target commodities.
Expanding its project portfolio, Surefire Resources acquired high-grade gold tenements in the Yidby and Perenjori project areas, in August 2020. Outstanding results were recently received from the first eight Reverse Circulation (RC) holes upon drilling at the Yidby Road Prospect on the Yidby Gold Project.
In this backdrop, let us walk through Surefire Resources’ project portfolio-
Recently Acquired Gold Projects- Yidby and Perenjori
Both Yidby Gold Project and Perenjori Gold Project have well mineralised shear zones, banded iron formations, and numerous untested target areas.
Notably, the Yidby Gold Project is surrounded by several significant gold projects- Mount Gibson Gold Project, Rothsay Gold Project, Minjar Gold Project, and Kirkalocka Gold Project. Paynes Find Mining Centre is also located in close proximity to the Yidby Gold Project.
Read about the recent grant of a new tenement at Perenjori Project HERE.
The Kooline Project
Located in the Ashburton Province, the project covers a total of 386 km²and comprises granted Exploration Licences, E08/2372, E08/2373 and ELA 08/2956.
The Project is host to the Kooline Lead Field. At this field, historical production mounted to 26.5k ounces of silver and 2.68k tonnes of lead. There are over 50 mapped historic excavations where the DSO grade material was mined in the post WW2 period. The most significant mines include Bilrose, The Gift and June Audrey.
Surefire Resources has been evaluating the high priority lead-silver targets at the Project. Besides, Southern Geoscience was commissioned in FY20 to re-evaluate historic IP and EM surveys, and test for anomalies that may provide further targets for drilling.
Unaly Hill and Victory Bore Vanadium Projects
Surefire Resources’ vanadium projects are located in the Mid-West of Western Australia and form a contiguous tenement holding with the Victory Bore licence E57/1036. Currently, the Company is well advanced in its exploration drill planning for Unaly Hill. Given it has the same targeting rationale and available geophysics, it may allow a similar methodology to be applied to the untested Victory Bore anomalous areas.
At Unaly Hill, work has been progressing toward assessment of the high purity alumina potential of the alumina contained within the Vanadiferous titanomagnetite resource. NAGROM was assigned the task to start further metallurgical testing of Unaly Hill diamond core, which was drilled during the campaign in 2018. Surefire Resources is interested in evaluating the potential for further refinement of the ore to yield a high purity alumina product.
At Victory Bore, Surefire planned and executed a program of exploration drilling targeting gold intersections from historic drilling in FY20. Results included some highly anomalous gold grades within shallow zones which covered 3.5km of strike. Though the grades fell short of the high grades from historic drilling, further work is required to develop understanding of the structural controls of the gold mineralisation.
Mt Magnet Gold Project
This project lies within the north-south striking Meekatharra-Mt Magnet greenstone belt. Gold mineralisation is typically related to the pyrite and pyrrhotite replacement of magnetite in the banded iron. Surefire Resources recently applied for an exploration licence (E58/559) covering ~15km2 in close proximity to the Mt Magnet townsite and gold mining operations that extend northwards along the greenstone belt.
Notably, the Mt Magnet gold mining town has been producing gold since discovery in 1891.
SRN traded at $0.044 on 11 December 2020 (AEDT 12:13 PM).
GOOD READ: September 2020 Quarterly Activities