- Surefire Resources (SRN) has been granted an exploration license for its Perenjori west tenement located 330 kilometres northeast of Perth
- The company wholly owns the tenement, which consists of 160 square kilometres and unexplored structural targets of significant strike length
- The local area outside the tenement is reportedly highly prospective for gold, with assays of up to 0.98 g/t gold occurring in the tenement itself
- The company says it will plan and undertake appropriate local scale magnetics to enhance the hidden structural features on the lease
- Shares have been up 10 per centm, trading at 1.1 cent
Surefire Resources (SRN) has been granted an exploration license for its Perenjori west tenement, located 330 kilometres northeast of Perth in Western Australia.
The company wholly owns the tenement, which consists of 160 square kilometres and unexplored structural targets of significant strike length. The newly acquired license also contains an additional, previously unrecognised, portion of the Koolanooka Greenstone Belt.
Surefire said the local area outside the tenement is highly prospective for gold and base metal mineralisation with geological similarities to the Golden Grove area. The company also said historical work completed on the lease is comprised of mapping and surficial BLEG soil sampling in the 1980s.
Gold assays of up to 0.98g/t reportedly occur between basaltic and felsic volcanics appearing to be along a four-kilometre strike length.
The company said, in conjunction with industry specialists, it will plan and undertake appropriate local scale magnetics to enhance the hidden structural features on the lease, allowing for both the highly magnetic BIF and the soil cover.
Shares were up 10 per cent trading at 1.1 cent at 11.50 am AEDT.