Strategic Energy Resources In $2M Raising For South Cobar Exploration Play

Strategic Energy Resources (ASX: SER) has raised $2,000,000 from investors to test its South Cobar Basin prospect.

With proximity to Australian Gold and Copper Resources’ (ASX: AGC) recent high-grade discovery in the region, demand was significant for the raising.

An existing shareholder Datt Capital bookended the raising, with Lowell Resources Fund investing in the placement at $0.011 per share, at a discount of 8.3%.

Tony Gu of Datt Capital will join the board of directors.

The company is looking to emulate the high-grade drill results achieved by AGC at its Archilles 1 prospect in South Cobar.

In May 2024 AGC announced strong intercepts of high-grade gold-silver-lead-zinc mineralisation at the Achilles 3 Prospect in the southern Cobar Basin, NSW.

Notably, it had intercepts of 5m at 16.9g/t Au, 1473g/t Ag & 15% Pb+Zn from 112m.

It hit grades of 45g/t Au, +3000g/t Ag & 38.8% Pb+Zn.

Proximity

Strategic’s Achilles 1 lies 8km south along a structure that could control the mineralisation at AGC’s Achilles 3.

Promisingly, it uncovered a near-identical polymetallic soil geochemistry anomaly to that identified at Achilles 3.

The company said it is about 3x larger in area than Archilles 3.

Testing the prospect

With the funding, Strategic will use an RC drill to test Achilles 1. A land access agreement is in place, and the first drill pads are already cleared.

Drill results are expected in the third quarter of 2024.

 

 

Disclaimer

JustStocks provides data and commentary that constitutes general information only. This does not constitute personal, financial or professional advice or assistance. The data and information compiled do not consider your investment objectives or your financial circumstances. JustStocks cannot guarantee this website’s accuracy, completeness, or timeliness. JustStocks accepts no responsibility regarding any inaccuracy, omission, or change in information or articles or the data provided. The information published on this site/page should not be relied upon as a substitute for personal financial or professional advice. The information provided may not be appropriate for your circumstances or needs. JustStocks recommends that you seek professional advice from a qualified advisor before you make any decisions.

 

 

Articles of Interest