Surefire Resources NL (ASX:SRN, FRA:GBL) continued to advance its portfolio of gold, copper and critical minerals projects across Western Australia during the December 2025 quarter, with work centred on refining priority targets, progressing technical studies and preparing for follow-up drilling in early 2026.
The quarter was highlighted by further confirmation that the company’s flagship Yidby Gold Project is shaping up as a large, structurally controlled gold system, alongside drill-ready copper targets at Copper Hill and ongoing strategic and technical work at the Victory Bore vanadium–titanium–iron project.
Surefire Resources Projects.
Yidby emerging as a large, open gold system
At Yidby, Surefire focused on integrating historical and recent drilling with updated geological and structural interpretations to refine targets ahead of the next drilling phase.
Location of Yidby Gold Project, surrounding tenure and gold deposits.
Final 1-metre assay results from the September 2025 reverse circulation program reinforced the scale and continuity of mineralisation, including a standout 1 metre at 15.83 g/t gold in hole YBRC136. The same hole also returned the broadest mineralised envelope intersected at Yidby to date, delivering 108 metres at 0.61 g/t gold from 71 metres, with multiple higher-grade zones within the interval.
Schematic x-section, mineralisation and interpreted geology.
Surefire said mineralisation at Yidby is now interpreted to plunge to the north-west, with higher grades being intersected at depth — including 2 metres at 12.54 g/t gold from 177 metres — indicating the system remains open down plunge.
Most drilling completed across the eight prospects that make up the Yidby project has intersected gold, supporting the company’s view that the mineralised system is extensive along strike and at depth. Follow-up drilling to test extensions of known mineralisation and priority targets is planned for the March quarter of 2026.
Yidby Gold Project - Long Section.
Copper Hill targets firm up ahead of drilling
At the Copper Hill Project, exploration during the quarter centred on geophysical interpretation and target refinement.
Surefire completed detailed analysis of moving-loop electromagnetic (MLEM) and fixed-loop EM survey data, integrating results with surface geochemistry and geological mapping. This work identified conductive features coincident with copper anomalism that the company considers priority drill targets.
A broad conductor identified on survey line 530050mE was modelled as a steeply dipping, north-east striking plate — a geometry that aligns with known structural controls in the area and coincides with historic intersections of native copper. Surefire plans to drill this target during the March quarter.
Previous geochemical sampling and scout drilling at Copper Hill have confirmed copper sulphide mineralisation in a volcanogenic massive sulphide (VMS) setting, supported by petrographic studies identifying chalcopyrite and pathfinder elements with VMS affinities.
Victory Bore remains a strategic cornerstone
Surefire’s largest and most advanced asset, the Victory Bore Vanadium–Titanium–Iron Project, continued to progress on the technical and strategic front.
Victory Bore location map over magnetics.
During the quarter, the company advanced its mining licence application, reviewed metallurgical test work, and assessed downstream processing and product pathways — including value-added magnetite concentrates and vanadium recovery options. Engagement with potential strategic, offtake and development partners also continued.
Victory Bore hosts one of Australia’s largest vanadium, titanium and iron resources, with a JORC mineral resource of 464 million tonnes and an ore reserve of 93 million tonnes, supported by metallurgical test work demonstrating the production of clean, high-grade magnetite concentrate.
Surefire is pursuing a strategic investor-led pathway to fund the next phase of studies, design and development, while seeking to minimise capital intensity and execution risk.
Portfolio review and financial position
Elsewhere, the company continued desktop evaluation and target generation at its Kadji Gold Project, identifying multiple underexplored gold anomalies, while maintaining a watching brief on additional project opportunities.
Location map of Kadji Gold Project.
Exploration and evaluation expenditure for the December quarter totalled $26,000, with Surefire maintaining a focus on disciplined cash management while advancing priority assets.