Surefire Resources NL updated the market on recent work conducted on the Perenjori Iron tenement E70/5311. During a reconnaissance site visit in December 2022, a total of 17 samples were taken from interesting lithologies within the Surefire exploration tenement, at locations peripheral to the current existing Perenjori Iron resource. The sampling of newly discovered pegmatites on the property has returned significantly anomalous results with a maximum of 345ppm Total Rare Earth Oxides (TREO) in sample PI Peg001.

Additional sampling in the vicinity of the pegmatite, and elsewhere on the tenement, also returned anomalous TREO values. Pegmatites were found on the eastern periphery of a kaolinised sheared granite contact between the sediments, hosting the Perenjori Iron deposit, and an intruded granite stock to the east. The results indicate either the pegmatites within the granitoid, the sheared kaolinised granite/sediment contact zone, or all the above contain rare earth elements.

The south-eastern portion of the tenement hosts a historical kaolin occurrence and additional kaolin occurrences have been noted in outcrop within the Surefire tenements during the reconnaissance field trip. Kaolin has recently been recognised as a host for rare earth mineralisation within Australia and internationally; examples are the Georgia kaolin mines (Georgia State University USA), Cloud Nine (investingnews.com.au) and Caralue Bluff (smallcaps.com.au) among others. Kaolin has become a primary source for production of HPA high purity alumina for use in lithium-ion batteries.

4HPA is a high value product currently valued at approximately $AUD30,000/t. The anomalous rare earth mineralisation occurs close to the eastern tenement boundary of E70/5311, the tenement hosting the Perenjori Iron Deposit. Surefire has applied for an additional exploration licence contiguous with E70/5311 to east. Surefire plans GIS review of the aeromagnetic imagery, detailed geological mapping, local geochemistry and follow up shallow drill testing to explore the Perenjori pegmatites and kaolin occurrences.

The historical focus of aeromagnetic interpretation was the huge Perenjori Iron BIF. Initial recent review of aeromagnetic data suggests the pegmatites are structurally controlled and that additional similar trending repetitions could occur within the current EL and the new EL in application. Sample PI 005-1, a highly micaceous rock which produced an assay of 267.2ppm TREO and 1930ppm Rubidium Oxide.

Many of the assayed samples also contain a lithium response, with the maximum of 150.7ppm Li2O. Environmental consultants were contracted to conduct a comprehensive flora and vegetation database review for the Banded Iron Formations (BIF) on the tenement as a requirement of obtaining a Program of Work (POW) for the planned 6,000m infill reverse circulation (RC) drilling program. A report is due by early February 2023.

The infill drilling is planned to provide the basis for a resource upgrade and an economic prefeasibility study as an update from the previous scoping study. The work involved completing a single season detailed flora and vegetation survey (prior to the end of November 2022) to ensure compliance with EPA technical guidelines and basic terrestrial vertebrate fauna assessment guidelines. The consultants will provide a comprehensive report following the completion of the field survey.

The report will detail the background of the study area, the survey methodology, desktop assessment results, and field survey results, including mapping of vegetation types, fauna habitats, conservation significant flora and fauna, and significant vegetation communities.