Surefire is sitting on a ‘large gold system’ at Yidby
Link copied to
Surefire has delivered more wide, high-grade gold intersections from drilling at its Yidby Gold project, and the system remains open, meaning there’s plenty more upside still to come.
It looks as if Surefire could have found itself a ‘company-maker’ with the latest drilling results showing increasing thickness and high grades down plunge, open at depth and along strike.
Drilling delivered top hits of 32m at 3.68 grams per tonne (g/t) gold from 150m, including 3m at 26.47g/t and 5m at 6.27g/t; and 83m at 0.64g/t from 112m, including 14m at 2.09g/t, 4m at 6.31g/t and 3m at 4.15g/t.
To put that into context, anything above 5g/t is generally considered high-grade, but even at the current high gold price, grades of 1-2g/t can also be economic, particularly if the mineralisation is hosted within wide zones close to surface.
The latest results are just from the first five of 18 holes completed in the current phase of drilling.
“These exceptional new intersections have extended the mineralised lode structures at depth and along strike to the north and indicate increasing thickness and high-grades at depth,” managing director Vladimir Nikolaenko said.
“We eagerly await the results of the remaining holes that have also intersected multiple lode structures and indicate that we are on top of a large gold system.
“The next phase of drilling will continue testing along strike and at depth, where this exciting new discovery remains open.”
Maiden drilling at the Yidby gold project late last year delivered Surefire better results than it could have hoped for — wide zones of mineralisation that included high-grade sections close to surface and that were better than historic drilling results.
The initial hit that was the catalyst for a massive 2150 per cent share price surge late in 2020 measured 56m at 1.97g/t gold from 44m, including 4m at 14.47g/t from 76m.
The Yidby project spans 113.77sqkm of prospective greenstone terrain within the extremely fertile Yalgoo-Singleton Greenstone Belt.
It is located 40km from the mining centre of Payne’s Find (71,000oz) and is surrounded by major mines and deposits such as Golden Grove, Mt Gibson (87,000oz), Rothsay (485,000oz), Kirkalocka (1 million oz) and Minjar (1.1 million oz).
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.