Perth-based Surefire Resources has bagged another wide and shallow gold intercept in the latest drilling campaign at its Yidby gold project in Western Australia’s Mid West region. The wide and shallow intersection of 8 metres going 1.43 grams per tonne gold from 18m was encountered as the explorer drilled for extensions to its Yidby Road prospect.
The hole was designed to test for extensions to the new discovery zone, defined 250m southwest of the existing Yidby gold deposit.
Surefire says the latest hole extends the zone 80m to the southeast – and it importantly remains open to the south. Additionally, the explorer adds it confirms the mineralisation model for the deposit.
The potential for the broader prospect to grow is high as it remains open to the north, northwest, southeast and down dip.
Management says its next phase of exploration is locked in, with up to 4000m of RC drilling due to kick off in the next few weeks to extend the main Yidby Road gold deposit to the north and to the east-southeast. The work will test the possible extension of gold mineralisation intersected previously.
Significant results from the last round of drilling include a 1m hit going 39.1 g/t gold within a broader 52m grading 1.4 g/t gold from 32m downhole.
Another 1m strike running 10.63 g/t gold was also encountered.
In August of 2020, Surefire announced it was stacking the Yidby gold project into its portfolio along with its vanadium assets.
The project covers 114 square kilometres across the Yalgoo-Singleton greenstone belt and includes three prospects where gold mineralisation has been identified.
The gold is associated with historical workings at its Dalaney Well and Cashens Find prospects whereas at Surefire’s new discovery at Yidby Road the gold is lying beneath 10 to 25m of largely barren transported overburden that masks the mineralisation.
According to the company, the project is surrounded by several gold deposits including the 1.1-million-ounce Minjar gold project 65km to the northwest, the 1 million-ounce Kirklocka gold project 70km to the northeast, the sizeable 2.1 million-ounce Mount Gibson gold project 30km to the south and the 540,000 ounce Rothsay gold project 30km to the west.
The market appears to have treated Surefire favourably this week with the company recording a 76 per cent, five-day increase in its share price at today’s close.
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By Matt Birney
