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Strategic Energy Resources Limited (ASX:SER)

ALERT: Price-sensitive ASX Announcement for SER
Current share price for SER : $0.125 0.118 (1,685.71%)+
Announcement
Release
23 Oct 2025 9:33AM
Price at Release
$0.007
Full Release
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Summary
Strategic Energy Resources Limited has commenced a 2,000-meter diamond drill program at the Canobie Project in northwest Queensland, which is being explored under a Farm-in and Joint Venture Agreement with FMG Resources Pty Ltd, a subsidiary of Fortescue Ltd. The project targets Iron Oxide Copper-Gold (IOCG) mineralisation near the Gidyea Suture Zone. The exploration includes testing two priority targets, Charcoal Bore and Wills Prospect, both identified through geophysical datasets. The drilling at Canobie follows the completion of a two-hole diamond drill program at Isa North, with assay results from Isa North expected in mid-November and Canobie drilling results anticipated by mid-December. The program is fully funded under the joint venture, with Fortescue able to earn up to an 80% interest by investing $8 million over six years.
Key Points
  • Diamond drill program underway at Canobie Project, Queensland.
  • Joint Venture Agreement with Fortescue allows up to 80% interest.
  • Targeting Iron Oxide Copper-Gold mineralisation west of Gidyea Suture Zone.
  • Geophysical datasets identified Charcoal Bore and Wills Prospect as targets.
  • Drilling follows completion of Isa North program, with results expected by mid-December.
  • Program fully funded under Farm-in and Joint Venture with Fortescue.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.