Surefire Resources NL has reported progress across its gold, copper and critical minerals portfolio during the March 2025 quarter, highlighting significant geological advances and strategic development milestones.
Yidby Project – gold zone extended by 500 metres
At the flagship Yidby Gold Project, Surefire extended mineralisation by 500 metres to the southeast following drilling of holes YBRC109 and YBRC110.
The results indicate the gold system is more continuous than previously interpreted, with intersections up to 36 metres wide suggesting a broad mineralising event.
Earlier drilling at YBRC102 returned 20 metres at 1.73 grams per tonne gold from 80 metres. A new high-priority target identified through historical soil and stream sediment sampling is scheduled for follow-up in the current quarter.
Yidby Gold Project location.
Copper Hill – emerging VMS system confirmed
At the Copper Hill prospect within the Yidby Copper Project, scout drilling revealed disseminated sulphides in submarine tholeiitic basalts. Assays from hole PBRC010 returned up to 2,010 parts per million copper, with mineralisation increasing toward the end of the hole. Petrographic analysis confirmed chalcopyrite and pyrrhotite mineralisation in syn-metamorphic veins. These findings support the presence of a volcanogenic massive sulphide (VMS) system. A moving-loop time-domain electromagnetic (MLEM) survey is planned to delineate conductive sulphide zones.
Surface geochemical targets and drill locations.
Victory Bore – offtake agreement secured and concentrate grade improved
At the Victory Bore Project, Surefire advanced toward development with a Heads of Agreement (HOA) signed with HMS Bergbau AG for offtake of vanadium and titanium products. The project benefits from strategic infrastructure and a proposed downstream processing facility in Saudi Arabia. A bulk sample processed during the quarter yielded a premium magnetite concentrate grading 61.68% iron, 1.489% vanadium pentoxide (V₂O₅), and 9.921% titanium dioxide (TiO₂), outperforming figures used in the Pre-Feasibility Study (PFS).
The concentrate demonstrated low deleterious elements and high vanadium recovery from the magnetic fraction, supporting its downstream conversion to high-purity vanadium flake, ferrovanadium, electrolyte and titanium feedstock.
The company is engaging with strategic partners, including DRA Global and Saudi-based entities, to finalise a Definitive Feasibility Study and fund project development. The project hosts an Ore Reserve of 93 million tonnes grading 0.35% V₂O₅, 5.2% TiO₂ and 19.8% iron.
Other projects and corporate developments
No new fieldwork was undertaken at the adjacent Unaly Hill vanadium-iron project. At the Perenjori Magnetite Project, located in the Mid-West of Western Australia, the company engaged with potential partners and progressed environmental referrals for permitting.
Surefire also received A$439,000 through the Federal Government’s Research and Development tax incentive scheme, recognising work related to Victory Bore and high-purity alumina test work. The Company ended the quarter with A$550,000 in cash and A$120,000 in undrawn loan capacity, sufficient for an estimated 37 quarters of operations at current burn rates.
Total exploration expenditure for the quarter was A$201,000, with no production activities recorded.