Surefire Resources NL (ASX:SRN) has advanced exploration and infill drilling across three of its standalone projects in Western Australia - Yidby Gold Project, Victory Bore Vanadium Project and Perenjori Iron Ore Project.
The company has a strong focus on Western Australia, which it believes “still offers an extraordinary opportunity for new discoveries and resource development”.
“This is a particularly busy time for the Surefire team,” Surefire Resources managing director Vladimir Nikolaenko said.
“Concurrent planning and executing diamond drilling, RC (reverse circulation) drilling, geochemistry and geophysical review within the company’s three large, high-quality standalone project areas will advance these projects and provide significant news flow for our shareholders.
“The team is working diligently to swiftly advance all Surefire projects.”
Project exploration update
Yidby Project
At Yidby, Surefire has completed 23 reverse circulation (RC) drill holes targeting a mobile metal ion (MMI) anomaly – generated with an advanced geochemical technique suited to discovering deeply buried mineral deposits.
The company intersected downhole zones of quartz felsic porphyry with abundant sulphides and quartz veining, promising indications that mineralisation may be present.
SRN will now reprocess aeromagnetic data from the area as a prelude to an enhanced structural interpretation and has submitted a tender for a diamond drilling rig to complete six holes at the project.
Victory Bore Project
Surefire intersected the target vanadium horizon with a diamond drill hole at Victory Bore, with an RC drill rig on site beginning resource infill drilling at the two main vanadium lodes.
The company has lodged a mining licence for the project, which holds an inferred resource of 237 million tonnes at 0.43% vanadium pentoxide, 24.9% iron and 5.9% titanium dioxide, one of the largest vanadium resources in Western Australia.
Perenjori Project
Surefire intends to complete 5,000 metres of RC drilling at Perenjori, planned to take place within an area of wide, consistent grades of magnetite.
The drilling will take place over 200-metre by 100-metre spacing in key areas, aiming to produce material increases to firm up a conceptual exploration target of 870 million to 1.2 billion tonnes at a grade of 29% to 41% iron.