ASX-listed junior explorer Surefire Resources has uncovered three new targets at its exciting Yidby gold discovery at its namesake project in WA’s south-west Murchison district following recent soil sampling work. The Perth-based company says results from the geochemical survey comprising 520 samples point to three discrete and significant soil anomalies south-east and along strike of Yidby.
The survey was aimed at probing the potential prospectivity of a sheared contact between the banded iron formation and ultramafic rocks.
According to Surefire, the newly identified north-west trending “Money” anomaly that encompasses the T1 prospect can be traced over a large area of about one kilometre in length by 250 metres in width.
T1 returned a peak value of 29.1 parts per billion gold. The geochemical surveying also turned up two adjacent smaller targets, T2 and T3, that both span about 200m long by 100m wide.
Management says the south-eastern zone of gold anomalies along strike from Yidby has been largely untested by historical exploration.
The anomalies appear coincident with cross faulting of the interpreted sheared banded iron formation and ultramafic contact, the company says.
Surefire Resources Managing Director Vladimir Nikolaenko said: “We are very excited to define such a large gold geochemical anomaly directly along strike and across the road from the Yidby gold deposit. We can now add these additional exploration targets to the portfolio and drill test these alongside development of the Yidby orebody.”
The ASX-listed, $17 million market-capped company last week resumed reverse circulation drilling at Yidby after a prolonged spell of storms and heavy rainfall that delayed its much-anticipated follow-up program.
The company is planning to punch out a further 15 RC holes for an aggregate drilling coverage of about 2,000m on the back of a series of cracking broad gold hits from 30 holes totalling 4,020m earlier this year.
Some of the better intersections were 44m at an average grade of 2.77 grams per tonne gold from 149m including 3m at 26.47 g/t from 150m and 13m at 2.17 g/t from 113m which includes a 1m hit at 23.13 g/t gold from 113m.
Other stand-out assays were 26m grading an average 2.02 g/t from 126m including 14m at 3.01 g/t from 133m and 19m at 1.28 g/t from 84m including 2m at 7.29 g/t from 84m.
Surefire says the drilling carried out to date has defined a north-west-south-east trending, east dipping, mineralised zone along the boundary between the sheared ultramafic and mafic rocks and a large felsic quartz porphyry intrusion.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
