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.


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.




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