SER acquires Isa North copper-gold project in northwest Queensland

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Australian exploration company Strategic Energy Resources (SER) has reached an agreement with Newcrest Mining to acquire the Isa North copper-gold project in northwest Queensland.

Identified during a broader review of the Mt Isa Mineral Province undertaken by SER in their search for the next major copper-gold discovery, the Isa North project comprises three exploration licences covering an underexplored 976km2 belt considered highly prospective for iron oxide copper-gold (IOCG) mineralisation.

SER said the project has multiple favourable geological characteristics which make it highly prospective for IOCG mineralisation including: a major mineralised fault zone, evidence of extensive hydrothermal alteration undercover, and numerous significant magnetic and gravity anomalies.

Under the terms of the agreement, SER will acquire the project in return for Newcrest retaining a first right of refusal to any future transaction on the project; a 1% Net Smelter Royalty (NSR) capped at 10 years of production and access to technical data concerning the project.

Image credit: https://www.strategicenergy.com.au/latest-presentation/