Join our daily newsletter At The Bell to receive exclusive market insights
- Surefire Resources (SRN) says it is busy planning and executing exploration work across three of its projects in Western Australia’s mid-west region
- At its Yidby gold deposit, SFR completed a 23-hole reverse circulation drilling program with assays pending and a further six diamond drills planned, pending rig availability
- Drilling of a diamond core hole has wrapped up at Victory Bore and the company is gearing up for a 4000-metre drilling program on two main vanadium lodes
- Reverse circulation drilling is also planned at the Perenjori iron ore project, SFR is hoping this program will follow the one at Victory Bore, with the same rig to be used
- Company shares are trading steady at 2.2 cents at 2:28 pm AEST
Surefire Resources (SRN) has planned and begun executing exploration work across three of its projects in Western Australia’s mid-west region.
Yidby Gold Deposit
At SRN’s Yidby deposit, a reverse circulation drilling program comprising 23 drill holes has wrapped up, with samples sent to a lab for analysis and results expected in around 10-12 weeks time.
This round of drilling covered 2754 metres and was designed to extend the footprint of the known gold mineralisation and drill test additional mobile metal ion surface geochemistry anomalies.
While assay results are pending, SFR observed broad down hole intersections of quartz
felsic porphyry’s with abundant sulphides and quartz veining.
To gain more information on the drill holes, Surefire has commissioned Southern Geoscience of Perth to reprocess open-file high resolution airborne magnetic data over the Yidby project.
A further six holes are planned at the project and the company has put out tenders for a diamond drill rig.
Victory Bore Vanadium
Over at Victory Bore, drilling of a diamond cored hole has been completed to 150 metres and intersected the vanadium horizon, with core from the footwall and hanging wall rocks obtained.
Now, the company is gearing up for a 4000-metre drilling program on two main vanadium lodes.
Site preparations were initially delayed due to inclement weather, however now that has passed, the rig is on site and preparations have begun.
According to the company, Victory Bore is one of the largest contained vanadium pentoxide resources in WA with an inferred resource of 237 megatons at 0.43 per cent vanadium pentoxide, 24.9 per cent iron and 5.9 per cent titanium oxide.
Surefire has submitted a mining licence application over the entire Victory Bore
exploration licence area.
Perenjori Iron Ore
At the Perenjori project, SRN has planned a 5000-metre reverse circulation drilling program in an area where previous drilling identified wide and consistent grades of magnetite.
SRN is hoping this program will follow the one at Victory Bore, with the same rig to be used.
Surefire Managing Director Vladimir Nikolaenko said the company has been working diligently to swiftly advance all of the company’s projects.
“This is a particularly busy time for the Surefire team.
“Concurrent planning and executing diamond drilling, RC drilling, geochemistry and geophysical review within the company’s three large high quality stand-alone project areas will advance these projects and provide significant news flow for our shareholders,” he said.
Company shares were trading steady at 2.2 cents at 2:28 pm AEST.
