Join our daily newsletter At The Bell to receive exclusive market insights
- Surefire Resources (SRN) highlights two distinct styles of gold mineralisation at the Yidby Road deposit in WA
- The company has received assays from two drill holes with one returning 60 metres at 1.04 g/t gold from 32 metres including four metres at 10.4 g/t gold
- Surefire says the intercept suggests gold is contained with a second major structure west of and parallel to the Yidby Road mineralisation, referred to as the “Central Zone”
- Yidby Road now contains the Western Zone and Central Zone mineralised trends and further assays are pending from the deposit
- SRN shares are down 5.56 per cent to trade at 1.7 cents at market close
Surefire Resources (SRN) received assays for two reverse circulation (RC) holes completed at the Yidby Road deposit in Western Australia.
The preliminary results come from four-metre composite samples taken from a recent 23-hole drilling program which aimed to test surface gold anomalies at Yidby Road.
Hole YBRC069 intersected 20 metres at 0.43 g/t gold from 104 metres and 32 metres at 0.32 g/t gold from 144 metres.
YBRC059 returned an intercept of 60 metres at 1.04 grams per tonne (g/t) gold from 32 metres including four metres at 10.4 g/t gold from 72 metres.
The company said YBRC059, combined with a previous intercept of eight metres at 1.43 g/t gold, suggest the gold is contained within a second major structure west of and parallel to the Yidby Road gold mineralisation, referred to as the “Central Zone”.
The new Western Zone lies 400 metres northwest of the Yidby deposit, increasing the gold mineralised footprint at the project. The company said the new gold trend displays large widths with typically higher grade gold within a mineralised halo.
Surefire expects to receive the remaining assays in the next six weeks.
In addition, the company has diamond drilling planned which will include six holes at the Yidby project. This drilling will aim to provide a better understanding of the area.
SRN shares were down 5.56 per cent to trade at 1.7 cents at market close.
