Strata Minerals Launches Maiden Drilling Near High-Grade Penny Gold Deposits

Strata Minerals Kicks Off Maiden Drilling at Penny South

Strata Minerals Limited (ASX: SMX) has announced the imminent start of its first-ever drilling campaign at the Penny South Gold Project, located in Western Australia's prolific Youanmi greenstone belt. The program, set to begin in mid-February 2025, will comprise 13 reverse circulation (RC) drill holes totaling approximately 2,800 metres. This marks a significant milestone for Strata as it seeks to unlock the potential of a project situated just 550 metres south of Ramelius Resources’ high-grade Penny West and Penny North gold deposits.

The Penny West and Penny North deposits, currently mined by Ramelius Resources (ASX: RMS), boast a combined historical resource and production of 723,000 tonnes at 17 grams per tonne gold, yielding nearly 395,000 ounces. Strata’s drilling targets two priority zones at Penny South, aiming to test the down-plunge extensions of these mineralised trends and investigate deeper zones beneath anomalous intersections from historical shallow drilling.

Strategic Targeting and Technical Approach

Central to Strata’s targeting strategy is the identification of a demagnetised geophysical zone within the Penny South tenement. This feature is interpreted as a key structural pathway for mineralising fluids, analogous to those controlling the Penny West and Penny North deposits. The maiden drill program will include a deep traverse of four holes around 250 metres deep along the tenement boundary adjoining Ramelius tenure, complemented by additional holes testing shallower zones further south.

The drilling contract has been awarded to Topdrill Pty Ltd, a respected contractor in the Australian mining sector, ensuring technical rigour and operational efficiency. Initial assay results are anticipated in March or April, which will provide early insights into the project's potential to host significant gold mineralisation.

Expanding Exploration Horizons at Biranup

Beyond Penny South, Strata is advancing exploration at the Biranup Gold Project, also in Western Australia. Historically focused on nickel, the project is now being re-evaluated for gold potential, given its proximity, just 10 kilometres northeast, to the +5 million ounce Tropicana gold mine operated by AngloGold Ashanti and Regis Resources. Multiple high-priority gold targets have been identified based on historical soil, rock chip, and drilling anomalies, with field mapping and sampling set to commence imminently.

Managing Director Peter Woods expressed enthusiasm about the year ahead, highlighting the strategic importance of both projects. "We are excited to commence drilling at Penny South, located just south of one of WA’s highest-grade gold mines, and to initiate gold exploration at Biranup, which holds significant untapped potential," Woods said. He also emphasized the company’s commitment to delivering consistent news flow as exploration advances.

Context and Outlook

The Penny South Project sits within a world-class gold district marked by complex Archean geology and significant structural controls on mineralisation. Previous exploration by various companies, including Aurum Resources and Aldoro Resources, has identified encouraging gold intersections, though drilling has largely been shallow and sporadic. Strata’s program is designed to test deeper, untested zones that could reveal extensions of the prolific Penny West Shear mineralisation.

While the exploration is at an early stage and no mineral resources have yet been defined by Strata, the proximity to established high-grade mines and the identification of compelling geophysical targets provide a strong foundation for optimism. The company’s methodical approach, combining detailed data review, geophysical surveys, and targeted drilling, positions it well to potentially unlock new gold resources in this underexplored corridor.