The market added more than 18 per cent to Surefire Resources’ share price in intraday trade today after the junior explorer returned another impressive batch of wide, high-grade gold intersections from follow-up reverse circulation drilling at the exciting Yidby Road gold discovery at its Yidby Road gold project in Western Australia’s Murchison district. The stand-out drill hit from five holes assayed so far was 44 metres at an average grade of 2.77 grams per tonne gold from 149m including 3m at 26.47 g/t from 150m and 5m at 6.27 g/t from 177m.
Another very long 83m intercept came in at 0.64 g/t gold from 112m, which included higher-grade sections of 4m at 6.31 g/t from 112m and 3m at 4.15 g/t from 163m.
Other notable results were 19m grading an average 1.28 g/t from 84m including 2m at 7.29 g/t from 84m and 2m at 4.14 g/t from 101m.
Nearly 20 per cent of Surefire’s shares changed hands today as the company’s market cap surged above $30 million in a charged market trading session after the much-anticipated new drill results from Yidby Road landed in the public arena.
Surefire’s new 6,000m RC drilling program is aimed principally at extending a 200m-wide, 200m-deep mineralised zone in which massive quartz-sulphide veining and felsic porphyry structures have been intersected across wide intervals.
The gold mineralised zone was previously said to remain open in all directions.
Surefire Resources Managing Director, Vladimir Nikolaenko said: “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. The next phase of drilling will continue testing along strike and at depth, where this exciting new discovery remains open.”
Assays are pending for a further 13 of 18 holes drilled in the follow-up program. Perth-based Surefire says the holes intersected quartz-sulphide veining and felsic porphyry on multiple lode structures that converge at depth.
A further planned drilling phase will be aimed at testing the thickness and grade of the down-plunge extensions as Surefire looks to provide further evidence of a large-scale gold system at Yidby Road.
The 113-square-kilometre Yidby Road project area, which lies within the southern section of the Yalgoo-Singleton greenstone belt, is surrounded by several significant gold projects including Minjar, Kirkalocka, Mount Gibson and Rothsay, which are all within 70km of Yidby Road.
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By Matt Birney
