SER Identifies Multiple High-Grade Drill Targets at Isa North and Expands Queensland Footprint
Strategic Energy Resources advances its copper-gold and polymetallic exploration with refined drill targets at Isa North, promising anomalies at South Cobar, and a major new gold project granted in Queensland, while managing funding and asset divestment.
- Refined Nardoo copper-gold drill targets at Isa North using gravity and drone magnetic surveys
- Polymetallic anomalies identified at South Cobar via soil geochemistry and Induced Polarisation surveys
- Retention Licence granted for Ambergate Heavy Mineral Sands Project with JORC Inferred Resource of 11.2Mt
- New Bulimba Intrusion Related Gold System project granted in northeast Queensland
- March quarter exploration expenditure of $460k and cash balance of $751k with ongoing funding assessments
Isa North Copper-Gold Project: Precision Targeting
Strategic Energy Resources (ASX: SER) has made significant strides in its flagship Isa North Copper-Gold Project in northwest Queensland. The company deployed ground gravity and drone magnetic surveys to refine drill targets at the Nardoo Prospect, identifying multiple discrete magnetic bodies at testable depths. These targets align with structural fault zones and exhibit strong hydrothermal magnetite signatures, indicative of Iron Oxide Copper-Gold (IOCG) mineralisation.
Notably, SER has partnered with the Centre for Ore Deposits & Earth Sciences (CODES) to apply advanced mineral geochemistry vectoring techniques. This collaboration aims to characterise trace element signatures and alteration patterns to better prioritise drill targets within the Mt Isa Inlier, a globally recognised copper-gold province. The integration of machine learning models further enhances the interpretation of geophysical data, reducing bias and increasing confidence in exploration outcomes.
South Cobar Polymetallic Project: Encouraging Anomalies
In New South Wales, SER’s South Cobar Project has yielded promising results from a reconnaissance soil geochemistry survey at Mt Tooronga. The survey identified two major polymetallic anomalies with elevated gold, zinc, lead, copper, and silver values, characteristic of Cobar-style mineralisation. Follow-up Induced Polarisation (IP) surveys over the Heilia, Miti, and Achilles prospects have delineated chargeability anomalies consistent with sulphide mineralisation zones.
The spatial distribution of metals suggests zonation typical of hydrothermal systems, with gold and zinc concentrated centrally and copper and silver on the periphery. These findings support the potential for significant polymetallic deposits, warranting further exploration including infill soil sampling and targeted drilling.
Ambergate Heavy Mineral Sands Project: Licence Secured
Strategic Energy Resources secured a Retention Licence over its Ambergate Heavy Mineral Sands (HMS) Project in Western Australia, covering the entire mineralised area. The project hosts a JORC 2012 Inferred Resource of 11.2 million tonnes grading 5.1% heavy minerals, including ilmenite, leucoxene, zircon, and monazite. The company is actively exploring options to realise value from this asset, including advancing divestment discussions to maximise shareholder returns while minimising holding costs.
Bulimba Gold Project: New Frontier in Queensland
A major new Intrusion Related Gold System (IRGS) project was granted to SER in northeast Queensland. The Bulimba Project lies in a highly prospective region analogous to the nearby Red Dome and Mungana deposits. Predictive lithospheric targeting identified Bulimba as an ideal host for IRGS deposits, with structural corridors intersecting major craton-scale faults known to control mineralisation.
Historical geochemical sampling has highlighted immediate exploration targets, and land access negotiations are underway to enable reconnaissance mapping and sampling later this year. This project represents a strategic expansion of SER’s portfolio into a highly prospective gold province with underexplored potential.
Financial Position and Outlook
During the March 2025 quarter, SER reported exploration and evaluation expenditure of $460,000 and corporate costs of $170,000. The company ended the quarter with $751,000 in cash, reflecting ongoing prudent financial management amid active exploration. SER continues to assess funding options, including potential asset sales and joint ventures, to support its exploration programs and maintain operational flexibility.
Overall, Strategic Energy Resources is advancing multiple projects across key Australian mineral provinces with a blend of innovative technology application, strategic partnerships, and disciplined capital management. The coming quarters will be pivotal as drill programs commence and new exploration data emerges.
Bottom Line?
Strategic Energy’s refined targets and new project grants set the stage for a critical exploration phase amid tight funding conditions.
Questions in the middle?
- When will SER commence drilling at the newly refined Nardoo targets and what are the expected timelines for results?
- How will the company prioritise exploration expenditure across its diverse project portfolio given current cash reserves?
- What are the prospects and potential timelines for divestment or joint venture agreements on the Ambergate Heavy Mineral Sands Project?
