Ann: Clarification - Drilling Update, page-2

Getting chatGPT to do summaries of these anns is helpful:

Surefire Resources has completed 27 reverse circulation (RC) drill holes (3,651 meters) at the Yidby Gold Project in WA, targeting the main Yidby prospect as well as the Marshall and Fender prospects. Drilling has intersected visible sulphide mineralisation — estimated at 2–4% — in quartz porphyry, mainly comprising pyrite, arsenopyrite, and chalcopyrite. A total of 749 samples have been sent to the lab for fire assay analysis, with results pending. The mineralised zone at Yidby now stretches over 900 meters of strike length, with strong indications of a larger gold system at depth. Notably, the project lies in the same greenstone belt as Capricorn Metals’ nearby 3.9Moz Mt Gibson deposit, and Capricorn is actively increasing its landholding surrounding SRN’s tenements, suggesting regional significance. The drill rig is now moving to test the nearby "Money Anomaly," a high-priority geochemical target 1.5km south of Yidby.
✅ Does it look promising?

Yes, this campaign shows early promise — with some caution:
Positives:

• Visible sulphides in quartz porphyry (a common host for gold).
• Geological setting is highly prospective — surrounded by multi-million-ounce deposits.
• Drilling is systematic, with assays on the way and proper QA/QC procedures.
• Regional interest is rising — evidenced by Capricorn Metals’ aggressive expansion nearby.
• No reported delays, good drill productivity.

Caution:

• No assay results yet — all optimism is based on visual indicators, which are not a reliable proxy for gold grades.
• Visual sulphides (pyrite/arsenopyrite/chalcopyrite) can indicate gold but aren’t definitive without lab confirmation.
• There’s a history of speculative pops around "visual mineralisation" that don’t always translate to economic grades.

Conclusion

The geology, scale, and regional location make this a potentially significant gold system, especially if lab assays confirm high grades. While still early-stage, if even a portion of the sulphide zones prove to be gold-rich, SRN could be defining a meaningful resource. A strong first step — but wait for assays before drawing firm conclusions.