Surefire gathers strong evidence of potential high-grade lead-silver discovery at Kooline
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Surefire has pinpointed three high-priority conductors at its Kooline project which are shown to be linked to historic mines that once produced high-grade lead and silver.
Surefire Resources’ (ASX:SRN) Kooline project covers almost 50km of the mineralised Ashburton Formation and is located 55km south of Northern Star Resources’ (ASX:NST) 1-million-oz Paulsen’s gold mine in Western Australia.
The tenements include the previously mined high-grade lead, silver and copper lodes of the Kooline Mineral Field, which hosts over 30 mines.
Previous rock chip sampling of the exposed lode structures in this area delivered grades of up to 55.3% lead and 249 grams per tonne (g/t) silver from the Bilrose workings, and up to 2.62% copper, including 12% lead, from the Phar Lap workings.
Surefire revealed earlier this year it had identified Versatile Time Domain Electromagnetics (VTEM) conductors undercover immediately west of the Kooline workings, next to an intrusive heat source, where a major copper-gold system was targeted.
Managing director Vladimir Nikolaenko said the results obtained from quantitative modelling of the VTEM data was a substantial advance in the targeting efforts of the company.
“The strong bedrock conductors identified give us strong encouragement to pursue a discovery in this grossly under-explored mineral field. Surefire will pursue these targets rigorously to realise the potential of this area.”
Modelling of the data also identified four other moderate priority conductors. None of the conductors identified have had any previous drilling.
Surefire now plans to follow up the results with ground electromagnetic surveying and drilling.
The company has received a $150,000 grant by the WA government to co-fund exploration drilling.
This article was developed in collaboration with Surefire Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.