Just four months after acquiring the historic Yidby project in Western Australia, Surefire Resources (ASX: SRN) has reported “spectacular” gold intercepts.
Drilling at the project, which has seen multiple companies exploring over the past 40 years, has struck mineralised zones up to 56m wide.
The zones are shallow, with one hole intersecting mineralisation as 24m from surface.
Surefire says the mineralisation confirmed by the drilling rig correlates “strongly” with the known massive quartz-carbonate veining.
Assays from the first eight reverse circulation holes produced grades the company terms “outstanding”. All eight intersected gold.
Potential for more along strike
These include 56m at 1.97 grams per tonne gold, including two higher grade sections — 12m at 7.73g/t and 4m at 14.47g/t.
Hole eight intercepted 40m at 3.01g/t, including 4m at 26.57g/t.
Hole six returned 36m at 1.51g/t, including 5m at 5.86g/t, while another hole intersected 17m at 1.74g/t, including 4m at 5.13g/t.
Managing director Vladimir Nikolaenko said drilling had revealed the potential for further mineralisation along strike and down dip of the shallow intersections.
The recent reverse circulation drilling shows both broader zones of mineralisation, plus high grade intersections, that were reported from historic drilling.
Two gold projects acquired in August
In early August, Surefire acquired two gold projects in Western Australia, Yidby in the mid-west region and 320km northeast of Perth, and Perenjori in the southern Murchison province and located 40km south of the Deflector gold mine operated by Silver Lake Resources (ASX: SLR).
Surefire also owns two other West Australian assets, Unaly Hill high-purity alumina project and the Kooline lead-silver project.
Within Yidby, there are three historic workings — Nynghan mining centre, Delaney Well and Cashen’s Find.
Historic drilling has also reported “significant” gold intercepts at three other locations.
To the south of Yidby is the historic Mount Gibson gold mine which, between 1986 and 1999, produced 870,000oz at an average 1.6g/t.
Several companies have drilled on and around the project over the years.
These include the former mining major WMC Resources in 1982 and 1994, as well as other former listed companies Capricorn Resources, Normandy Gold and WCP Resources — the last now Piedmont Lithium (ASX: PLL).
Surefire’s Yidby is located at the southern end of the 190km-long Yalgoo-Singleton greenstone belt.