Join our daily newsletter At The Bell to receive exclusive market insights
Strategic Resources (ASX:SER) has started its 1,500-metre diamond drill program at its Isa North in northwest Queensland, with several “compelling” magnetic copper-gold anomalies drawing the most attention early.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
This content has been prepared as part of a partnership with Strategic Energy Resources Ltd and is intended for informational purposes only.
The explorer is testing two iron oxide targets through the program, which is being financed with a $250,000 government grant just banked by the company.
“We’re extremely excited to begin our first diamond drill program at Isa North, having negotiated land access and secured co-funding to test these compelling magnetic anomalies,” said managing director David DeTata.
HotCopper understands first assays from drilling are due back in November.
Results will mainly come from the Nardoo East and West prospects. Both are coincident magnetic, gravity “bullseye” targets with favourable mineralisation.
The Nardoo East trend, which lies 3.75 kilometres beyond the main northeast structure trend at Isa North, has been modelled at depths between 325 and 475 metres. Machine stats ranked the prospect as “61% probable to contain hydrothermal magnetite” – it’s very clearly the top priority for the company.
Nardoo West has a lower probability score, coming in at 41%, though Strategic wants to dig up another 750-metre vertical hole to confirm that chance.
Next, Strategic will log, cut, and send away cores for geochemical analysis.
This morning, SER shares have slowly ticked up and down; right now, they’re 0.5cps.
Join the discussion. See what HotCopper users are saying about Strategic Energy Resources Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
