Next Investors logo grey

Strategic Energy Resources clinches more copper-gold targets


Published 30-NOV-2018 11:38 A.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Strategic Energy Resources (ASX:SER) has clinched two exploration licence applications (ELAs) in the Olympic Dam Copper-Gold province.

These applications come in the wake of BHP’s recent strong iron oxide copper-gold (IOCG) discovery at Oak Dam West.

SER’s long history of operating in the Gawler Caton will be enhanced by the decision to build on its existing Olympic Dam Province portfolio that includes the prospective Myall Creek Project.

The ELAs

ELA 2018/185 Billa Kalina

The ELA 2018/185 Billa Kalina comprises 525 square kilometres, covering coincident offset gravity and magnetic anomalies. This ELA is situated approximately 60 kilometres northeast of the Prominent Hill copper-gold mine.

Currently, there are only two drill holes within this ELA: SR11 (maximum depth 103.9m) and SR12 (399m). Both were drilled by Damper Mining/Newmont in 1977/1978.

While these historic drilling activities did target the coincident gravity/magnetic anomalies, they failed to reach the targets. Rio Tinto Exploration did hold this ground but didn't conduct any activities onsite, and the source of the geophysical anomalies remains unknown.

SER has strong knowledge of the area within ELA 2018/185, having conducted a ground gravity survey at the location in 2014.

The company noted that ELA 2018/185 is in competition with another party, who lodged an application for the same region on the same day.

ELA 2018/183 Island Lagoon

ELA 2018/183 Island Lagoon is 70 square kilometres in size and lies approximately 50 kilometres southwest of BHP’s new discovery at Oak Dam West.

There is currently only one drill hole within the ELA, which covers a residual gravity anomaly.

Drilled in 1982, ‘Vanguard 1’ was executed by CSR Ltd. and designed to test the residual gravity anomaly. It intersected Mesoproterozoic basement at 1067m before terminating 29m later in the Gawler Range Volcanics.

The cause of the geophysical anomaly was not determined.

ELA 2018/183 is in direct competition with two other parties who lodged applications on the same day. Of these applications, one covers the exact area SER has pegged, while the other covers a far greater area.

Caution advised

The company reiterated that its ELAs are in competition with other parties, and it may not secure the right to apply. In addition, the ELAs are applications only, and there is therefore no guarantee that these licences will be granted.

SER will advise shareholders of the outcome, which will be determined by the South Australian Department for Mining and Energy.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.