Surefire Resources NL (ASX:SRN, FRA:GBL) progressed exploration across its Western Australian portfolio during the March 2026 quarter, with work at the Yidby Gold Project delivering new high-grade surface results and opening up a broader mineralised corridor.
The company also continued technical and development studies at its flagship Victory Bore vanadium–titanium–iron project, while maintaining a disciplined focus on cash management.
Surefire Resources Projects
Yidby work uncovers new Loot prospect
Exploration at Yidby centred on geophysics reprocessing and float sampling north of the existing gold deposit, leading to the identification of a new prospect named Loot.
Yidby tenements highlighting the Loot Prospect (New Prospect)
Surface samples from the previously unexplored area returned encouraging gold grades, including assays of up to 12.04 g/t gold, alongside results of 3.66 g/t and 1.70 g/t.
Loot Prospect Location and Gold Grades.
The results validate historical exploration data and define a newly recognised 2-kilometre mineralised corridor that remains largely untested, pointing to broader discovery potential.
Mineralisation is hosted in albitite — a rock type linked to several known gold systems across Western Australia — reinforcing the geological prospectivity of the area as exploration expands.
Image displaying abundant rock fragments of albitite with sulphide casts (ID CSF054).
Kadji sampling revisits historical anomalies
At the Kadji Gold Project, Surefire revisited historical anomalies identified by BHP in the 1980s, completing bulk leach extractable gold (BLEG) sampling across four target areas.
A total of 20 samples were collected and submitted for gold and silver analysis, with the program designed to refine targets across what remains a largely underexplored tenure.
Location map of Kadji Gold Project
Victory Bore remains central to development strategy
Surefire continued advancing its Victory Bore vanadium–titanium–iron project, which hosts a large-scale resource base and underpins the company’s critical minerals strategy.
During the quarter, the company:
- Continued metallurgical test work, confirming the ability to produce high-grade magnetite concentrates with favourable impurity levels
- Progressed its mining licence application
- Assessed downstream processing pathways, including vanadium recovery and value-added products
- Maintained engagement with potential strategic and offtake partners
Victory Bore hosts a mineral resource of 464 million tonnes and an ore reserve of 93 million tonnes, supporting its status as a key long-term development asset.
Victory Bore location map over magnetics.
Cash position and funding outlook
Exploration and evaluation expenditure for the quarter totalled $98,000, with cash and cash equivalents of $427,000 at the end of March.
At the current rate of spending, the company has around 1.3 quarters of funding available and is considering additional capital management options to support ongoing activities.