- Strategic Energy Resources (SER) has received results that have highlighted the mineral potential of the East Tennant Project in the Northern Territory
- 4000 metres were drilled to test the potential for gold and copper-rich mineral deposits
- The drilling is part of the Mineral Exploration Cooperative Research Centre's National Drilling Initiative campaign
- The NDI partnered with the Northern Territory Geological Survey who's overseeing a multi-million-dollar initiative to stimulate the territory's mining and resources sector
- Strategic Energy has also discovered copper and gold targets through a gravity survey at East Tennant which will be followed up by drilling later this year
- Company shares are down 2.56 per cent and are trading at 3.8 cents
Strategic Energy Resources (SER) has received results that have highlighted the mineral potential of its East Tennant Project in the Northern Territory.
Drilling included 4000 metres to test the potential of basement rocks to host gold and copper-rich mineral deposits similar to those in the Tennant Creek region.
The drilling is part of the Mineral Exploration Cooperative Research Centre's (MinEx CRC) National Drilling Initiative (NDI) campaign.
The campaign is in partnership with different geological survey organisations across Australia and involves drilling to define the potential for mineral systems.
Specific to the Northern Territory, the NDI partnered with the Northern Territory Geological Survey who's undertaking a $26 million initiative to increase exploration activity and stimulate the territory's mining and resources sector.
"We expect the release of the first NDI drilling data to stimulate further industry interest in the Barkly region, which is rapidly emerging one of Australia’s most exciting exploration frontiers," NT Geological Survey Executive Director Ian Scrimgeour said.
"Drilling has identified rocks of the right age to host mineralisation and has uncovered evidence for key mineralising processes, such as the presence of major structures, hydrothermal alteration, and base metal sulphides," Geoscience Australia Chief of Minerals, Energy and Groundwater Dr Andrew Heap said.
The company has begun analysing the new data itself however MiniEx CRC, Geoscience Australia and the NT Geological Survey will conduct further in-depth analyses of the drill samples.
Strategic Energy Resources has completed a ground gravity survey at an exploration licence pegged late last year. Pleasingly, the data has confirmed multiple copper-gold drill targets. The company will follow up on these targets with drilling planned for mid-year.
Company shares are down 2.56 per cent and are trading at 3.8 cents at 1:12 pm AEDT.