Sponsored

Surefire Resources (ASX:SRN) Making Significant Strides Across Project Portfolio

Summary

  • 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.

DID YOU MISS: Impressive Developments At Surefire Resources In FY20 Continue Momentum In FY21

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


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content 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 stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music 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/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
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