Surefire Resources NL (ASX:SRN) has reported a productive September quarter, marked by wide gold intersections at its Yidby project in Western Australia and continued advancement of its Victory Bore critical minerals project — a vanadium-titanium-iron asset positioned for downstream development in Saudi Arabia.
Yidby drilling reinforces scale and continuity
At Yidby, about 400 kilometres north of Perth, Surefire completed 31 reverse-circulation holes for 3,972 metres, testing new targets and infilling around existing zones.
Location of the Yidby Gold Project and surrounding tenure and gold deposits.
Most holes intersected significant mineralisation, with widths up to 100 metres and grades peaking at 4.5 g/t gold.
Notable results included:
- 108 metres @ 0.62 g/t gold from 72 metres, including 4 metres @ 4.57 g/t from 179 metres.
- 32 metres @ 1.09 g/t gold from 148 metres.
- 12 metres @ 1.01 g/t gold from 164 metres.
Schematic Plan view of the gold mineralisation at Yidby.
The drilling confirmed gold mineralisation along tightly folded and sheared greenstones of the Yilgarn Craton — a geological setting shared with Capricorn Metals’ 4.5-million-ounce Mt Gibson deposit just 30 kilometres to the south.
Surefire said it sees the results “reinforcing Yidby as an extensive gold system”, with most drilling to date averaging only about 100 metres deep, leaving strong potential for mineralisation to extend further at depth and along strike.
The company is also reviewing additional prospects across the tenement package, including Fender, Marshall and Cashen’s Find, where previous drilling and geophysical data point to untested extensions of mineralisation.
Location of prospects and anomalies at the Yidby Gold project.
Together with promising metallurgy results showing excellent recoveries from simple crushing and heap leaching, the company believes Yidby has potential to host a much larger gold system at depth.
Critical minerals and downstream strategy
At its Victory Bore project in WA’s mid-west, Surefire continued to advance one of Australia’s largest known vanadium, titanium and iron resources — 464 million tonnes @ 0.3% vanadium pentoxide (V₂O₅), 5.12% titanium dioxide (TiO₂) and 17.7% iron (Fe), with an ore reserve of 93 million tonnes.
Victory Bore location map over magnetics.
New assays confirmed a high-purity magnetite concentrate grading 61.68% Fe, 1.49% V₂O₅ and 9.92% TiO₂, while the non-magnetic fraction contained 18.5% TiO₂.
The company said these results indicate strong recovery potential and low deleterious elements, supporting plans to produce premium vanadium, iron and titanium products for global supply chains.
Surefire remains in discussions with HMS and other prospective offtake and development partners, alongside ongoing engagement with Saudi Arabian groups over downstream processing options for vanadium and titanium products.
Other activity and funding
Elsewhere, the company completed new geophysical surveys at its Copper Hill prospect, defining a conductive plate consistent with copper-sulphide mineralisation, with drilling planned next quarter.
Surefire also reviewed historic gold anomalies at its Perenjori magnetite project, defining several follow-up targets based on earlier soil and rock sampling programs.
Location of Perenjori Project.
During the quarter, Surefire raised A$1.54 million through a non-renounceable rights issue and reported A$423,000 in exploration expenditure. The company said it remains well-funded to progress its exploration and strategic partnership programs into the December quarter.