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Surefire Resources (ASX:SRN) Secures Grant of New Tenement at Perenjori Project

Summary

  • Surefire Resources NL (ASX:SRN) has secured the grant of a 69km2 tenement - E70/5311 – in the Perenjori Project area.
  • The Company has also applied for a further 557km2 exploration licence over additional six tenements, pending approval from the DMIRS.
  • The tenement area is deemed highly prospective for base metal and gold mineralisation with geological resemblances to the Golden Grove area.
  • The granted tenement also encompasses the southern termination of a V-shaped greenstone structure, referred to as the Feral prospect.
  • Initially, the work will focus on validating and expanding previously reported gold and base metal anomalies to rapidly move towards drilling at the Perenjori Project.

Australian-headquartered base metals focused company Surefire Resources NL (ASX:SRN) has recently secured the grant of a 69km2 tenement - E70/5311 – in the Perenjori Project area. Its Perenjori Project is highly prospective for base metals VHMS style mineralisation and Orogenic Gold mineralisation.

Additionally, the Company has applied for a further 557km2 exploration licence over additional six tenements - E70/5572, E59/2445, E59/2432, E59/5573, E59/2446 and E59/5575 - to extend its portfolio in the area. These tenements are awaiting approval from the DMIRS (Department of Mines, Industry Regulation and Safety).

Superior Location of E70/5311

The granted tenement (E70/5311) is situated in the Koolanooka Greenstone Belt, approximately 16km northeast of the Perenjori town located in the Mid-West region of WA (Western Australia).

The tenement contains a significant portion of the Koolanooka Greenstone Belt, within usual granite-greenstone terrains of the southern Murchison Geological Province of the Archaean Yilgarn Craton. The greenstones contain felsic volcanics and associated volcanogenic sedimentary rocks (quartz-feldspar-muscovite schist), metamorphosed and deformed basalt (mafic schist), multiple BIF units and gabbro-dolerite sills.

Moreover, the tenement area is deemed highly prospective for base metal and gold mineralisation with geological resemblances to the Golden Grove area.

Granted Tenement Covers Feral Prospect

The newly granted tenement encompasses the southern termination of a V-shaped greenstone structure, referred to as the Feral prospect. This prospect is well-defined geophysically, topographically and geologically by packages of BIF covered in metamorphosed volcanics.

Several priority anomalies have been identified in the prospect area from preliminary historical data evaluation. The Feral prospect (E70/5311) delivered encouraging results in historical drilling, which comprise:

  • 4m @ 2.31 g/t from 40m, repeating 1m @ 11.6 g/t Au in PC05.
  • 8m @ 1.18 g/t from 20m, repeating at 2m @ 2.15g/t Au (18-20m) in PC01.
  • 28m @ 0.72g/t Au from 8m, including 4m @1.24g/t Au from 32m in PC16.

Besides, the prospect has returned promising outcomes from Channel Sampling and Rock Chip Sampling, as specified below:

  • Up to 4.5 g/t Au and up to 8.05 g/t Au from rock chip samples 15038 and 2UR027, respectively.
  • Rock chip channel sampling intervals, comprising 30m @ 0.22g/t Au and 33m @ 0.21g/t Au.
  • Broad spaced soil sampling returned up to 945 ppb Au with numerous anomalous zones across the tenements.

Surefire reported that the pending tenement (E59/2432) of the Maniws Gossan prospect has also returned favourable drill results, which comprise:

  • 8m @3.2 g/t Au from 28m, including [email protected]/t from 31m in PJR2.
  • 2m @4.7g/t Au from 8m in PJR4.

Surefire Resources’ Next Steps

Recent work at the E70/5311 tenement has concentrated on the iron ore potential of the BIF units. While it remains a target, Surefire intends to focus on the gold and base metals potential in the future.

The Company will continue amassing the historical data before commencing on ground. Initially, the work will focus on validating and enhancing previously reported gold and base metal anomalies to rapidly move towards drilling at this impressive project.

The full review of the Perenjori Project is currently underway, which involves identification and ranking of targets. Drill testing of these targets is expected to commence as soon as historical data will be compiled and target further defined.

SRN shares traded at $ 0.032 on 24 November 2020 (AEDT 10:57 AM), up 3.225% from its last close.

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

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