Source: Surefire Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Surefire Resources (SRN) continues to intersect wide gold mineralisation at its Yidby Road gold project in Western Australia
  • The company’s latest round of reverse circulation (RC) holes followed up on previous wide drill intersections and tested a number of mobile metals ions (MMI) gold anomalies
  • Surefire says one of the drill holes points to an exceptionally broad near-flat lying gold mineralised zone in the south of the discovery area
  • It has now updated the mineralisation model for Yidby and is using it to define targets for the next drilling campaign
  • SRN shares surge 27.3 per cent to 1.4 cents

Surefire Resources (SRN) shares jumped as the company revealed further wide gold intersections from drilling at its Yidby Road gold project in Western Australia.

The company recently completed 22 reverse circulation (RC) holes totalling 2,298 metres to follow up on previous wide drill hits as it tested for gold mineralisation along strike and depth extensions. It also vectored in on a number of gold anomalies.

Better intercepts from the latest round of follow-up drilling included 52 metres grading 1.4 grams per tonne gold from 65m and 13 metres at 1.33 g/t from 234 metres.

According to Surefire, one of the drill holes “confirms that an exceptionally broad” near-flat lying gold mineralised zone occurs in the south of the discovery area.

The company said a mobile metal ions (MMI) geochemistry survey completed in the discovery area last year also highlighted many separate drilling targets.

A total of 17 RC holes were drilled to test the gold anomalies and Surefire said results showed the MMI method was working in the area, which was masked by about 20 metres of barren transported overburden.

Initial drilling intersected shallow and wide down-hole zones of gold mineralisation and the company said it intended drill testing more MMI gold anomalies this year.

A recently completed update of the mineralisation model for the Yidby Road project was currently being used to generate targets for the next drilling campaign, Surefire said.

“The recent drilling results support our previous drilling results and the interpretation of wide gold zones at the Yidby Road gold project,” Managing Director Vladimir Nikolaenko said.

“The Surefire mineralisation model points to the likelihood a high tonnage gold deposit at Yidby.”

SRN shares were trading 27.3 per cent higher at 1.4 cents at 1:19 pm AEDT.

SRN by the numbers
More From The Market Herald

" Variscan Mines (ASX:VAR) reports “positive” results from San Jose Mine

Variscan Mines (ASX:VAR) has reported further “positive” results from its San Jose Mine in northern Spain.
The Market Herald Video

" Elsight (ASX:ELS) receives Halo order from Brazilian UAV services provider

Elsight (ASX:ELS) has received an initial order from Speedbird Aero, a leading Brazil-based comprehensive unmanned aerial…
The Market Herald Video

" NRW Holdings (ASX:NWH) signs contract extension for Curragh Mine

NRW Holdings' (ASX:NWH) subsidiary, Golding Contractors, signs a $1.2 billion contract extension with Coronado Curragh, a…
The Market Herald Video

" Strickland Metals (ASX:STK) uncovers new gold zones at Millrose project

Strickland Metals (ASX:STK) has announced more drill results from its Millrose gold project in Western Australia.