Surefire Resources NL (ASX:SRN) has confirmed further broad intersections of vanadium in a recently completed drilling program at the Victory Bore Vanadium Project in Western Australia.
Final assay results have been received from a 62-hole campaign for 5,189 metres designed to infill existing drill sections at a close 25 by 100-metre spaced drilling in preparation for a pre-feasibility study (PFS).
The campaign has outlined four parallel vanadium mineralised lodes over a 1.4-kilometre strike, including a 'Mystery Lode' 75 metres west of West Lode, which is open at width, depth and strike.
Sufficient data
The latest results include:
- VBRC0039 - 72 metres at 0.41% vanadium pentoxide (V2O5) Main Lode (60 metres in true width);
- VBRC0051 - 55 metres at 0.42% Central Lode (42 metres in true width); and
- VBRC0047 - 68 metres at 0.21% West Lode from surface and open to the west (about 56 metres in true width).
Three of the four lodes uncovered during the campaign have sufficient drilling to feature in the upcoming PFS. They are:
- Main Lode – up to 59 metres true width, up to 0.48% V2O5;
- Central Lode – up to 40 metres true width, up to 0.42% V2O5; and
- West Lode – greater than 70 metres true width and open to the west on all sections, up to 0.23% V2O5.
The four lodes including Mystery Lode and continuing wide mineralised zones from previous drilling result announcements.
More to come
“These drilling results, featuring massive widths and excellent grade continuity, suggest the Victory Bore Project will offer Surefire a long-life bulk mining opportunity,” Surefire’s managing director Vladimir Nikolaenko said.
“The discovery of the new Mystery Lode mineralised horizon reinforces that there is more to come from the Victory Bore Unaly Hill Project.”
Next steps
The drilling database will be updated, verified and submitted for re-estimation of the mineral resource to conform with the JORC resource criteria.
Data compilation work is continuing for the completion of the PFS following the positive scoping study of the project.
The company is also waiting to hear from the Western Australian Department of Mining Industry Resources and Safety (DMIRS) on the application it submitted in 2022 for the conversion of the project’s exploration licence to a mining lease.