Isa North (SER 100%, Northern Territory)
The Isa North project comprises three exploration licences (EPM26439, EPM26440, EPM26442) covering an underexplored 976km2 belt considered highly prospective for Iron Oxide Copper-Gold (IOCG) mineralisation. The project area is located along the projected northern extension of the mineralised Mt Isa – Gunpowder Fault Zone. Several large deposits lie on or adjacent to this fault system, including the Mt Isa, Mt Oxide and Gunpowder copper deposits and the Mt Isa, Hilton and George Fisher lead-zinc-silver deposits.
The Isa North project was identified during a broader review of the Mt Isa Mineral Province undertaken by SER in our search for the next major copper-gold discovery. The project, which formed part of Newcrest’s Under-Cover Strategy, 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.
Newcrest identified priority targets based on structural position, geophysical signature, depth to basement and target size before completing nine drill holes at four target areas in 2018. At the Lorraine North target located on EPM26439, drillhole INMD001 intersected IOCG alteration and pathfinder elements indicating the outer halo of a potential IOCG system and the drillhole could be classified as a “near miss”. This target is of immediate interest to SER. Several other key targets were unable to be drill tested by Newcrest due to land access issues which SER may be able to resolve.
Additionally, the northern end of the Isa North project area adjoins the Red Metal (ASX:RDM) – Oz Minerals (ASX:OZL) Alliance “Gibson’s Tank project” where two geophysical targets are scheduled to be drill tested at the beginning of the 2021 field season
 See NCM December 2018 Quarterly Report: https://www.asx.com.au/asxpdf/20190130/pdf/4425db3cb7sv06.pdf
 See RDM December 2020 Quarterly Report: https://www.asx.com.au/asxpdf/20210129/pdf/44s439bw56k33y.pdf