Isa Undercover Copper-Gold

Isa Undercover Copper-Gold (SER 100%, Queensland)

SER controls two major undercover extensions of the Mt Isa Province, one of the most highly mineralised provinces in the world.

Our Canobie project covers 1640km2 of the Mt Isa Eastern Fold Belt, home to mines such as the giant Glencore & Evolution owned Ernest Henry Copper-Gold mine (FY20: ~95koz gold, ~21kt Cu production). SER is convinced Canobie represents an extension of the Cloncurry Iron Oxide Copper-Gold province. Less than 30 drillholes in the entire district have penetrated Proterozoic basement and these include multiple high-grade gold hits, significant Ni-Cu sulphide intercepts and numerous intersections of copper, zinc and uranium mineralisation within intensely altered rocks that have never been followed up. This extraordinary strike rate from a limited number of holes led SER to secure the entire belt.

Our Isa North project acquired from Newcrest covers 976km2 of the Mt Isa Western Fold Belt, an extension of the Mt Isa – Gunpowder fault zone host to Mt Isa, Mt Oxide and Gunpowder copper deposits. Isa North conatins multiple untested geophysical targets, evidence of extensive hydrothermal alteration undercover and a near miss drillhole identified by Newcrest. Newcrest retains a First Right of Refusal over future sale and 1% NSR (capped at 10 years production).

In July 2021 SER released an exploration update for our Canobie and Isa North projects – now jointly named the ‘Isa Undercover Initiative’. SER now controls two major undercover extensions (more than 2,500km2) of the Mt Isa Province, one of the most highly mineralised copper-gold provinces in the world. The update included details of SER’s success in being awarded two Queensland Government Collaboration Exploration Incentive (CEI) grants with a total of $165,000 in direct operational funding for the Isa Undercover Initiative.

Kalarka Target Drilling

The first grant covers $100,000 of direct drilling costs for one 800m rotary mud/diamond drill hole into a newly identified base metal target, ‘Kalarka’ within EPM27378 of the Canobie Project. Kalarka is a a discrete 750 x 600m, 40nT aeromagnetic response characterised by an elevated Electromagnetic (EM) response and partially coincident anomalously higher density. SER has modelled a steep westerly dipping plate as the source of the EM response, which will be tested in the upcoming drill program planned for later this year.

Deep Learning Based Geological Interpretation of Geophysical Data

As part of an ongoing partnership with award-winning mineral exploration machine learning pioneers Caldera Analytics, a joint CEI submission to develop a deep learning-based model to interpret basement geology from geophysical data was awarded a $65,000 grant.

Caldera proposes to develop a deep learning model that performs lithology interpretation based on the existing geophysics of the Isa Undercover area, ultimately to further advance the concept of “live geological interpretation”, one that is not static, but rather one that adapts and changes as more data is acquired whilst SER advances exploration of the Isa Undercover Initiative.

SER would like to thank the Queensland Government for their support which validates our targeting methodology.

Centre: Mt Isa Province extensively mineralised outcrop over magnetics showing prospective rocks continue undercover
Left: Isa North magnetics image with historical drillholes and untested targets
Right: Canobie gravity image with drillholes intersecting basement and mineralisation intersections

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