East Tennant Copper-Gold

East Tennant Copper-Gold (SER 100%, Northern Territory)

The East Tennant Copper-Gold project comprises 5 exploration licences – covering 1300km2 – between the Tennant Creek and Mt Isa mineral fields (Figure 1). SER was a first mover into the region, pegging ground with the right geological features present to potentially host a mineral system following a review of the precompetitive data that emerged as part of Geoscience Australia’s Exploring for the Future program.

Since 2018, SER has completed detailed gravity surveys over 4 of the exploration licences, as gravity is one of the key datasets for defining hematite or magnetite hosted IOCG mineralisation in the region given the nearby relatively small yet high grade Tennant Creek Copper-Gold project.

Above: SER’s East Tennant Copper-Gold Project over Geoscience Australia IOCG Prospectivity map with SER targets (yellow stars) and copper mineralisation (green stars).

In late 2020, the Mineral Exploration Cooperative Research Centre (MinEx CRC) completed a 10 hole, 4000m National Drilling Initiative (NDI) regional stratigraphic drilling campaign in the East Tenant region. The NDI drill holes were designed to test the potential of basement rocks in the region to host gold- and copper-rich mineral deposits similar to those in the Tennant Creek mineral field. The first data from the NDI campaign was released in March. The data provided new insight into the mineral potential of a previously underexplored region of northern Australia.

Dr Andrew Heap, Chief of the Minerals, Energy and Groundwater Division at Geoscience Australia said “Drilling has identified rocks of the right age to host mineralisation and has uncovered evidence for key mineralising processes, such as the presence of major structures, hydrothermal alteration, and base metal sulphides”. Ian Scrimgeour, Executive Director of the NT Geological Survey said “We expect the release of the first NDI drilling data to stimulate further industry interest in the Barkly region, which is rapidly emerging one of Australia’s most exciting exploration frontiers.”

For further details regarding Geoscience Australia’s work at East Tennant see: https://www.ga.gov.au/eftf/minerals/fis/east-tennant

Cottage’ Prospect

In June 2021, SER was awarded a Northern Territory Government grant to drill a deep diamond drill hole at a modelled Copper-Gold target, ‘Cottage’ on EL32617. Grant funding was provided by the “Resourcing the Territory” initiative which is designed to increase the intensity of exploration drilling in underexplored areas of the Northern Territory. SER was the first explorer to drill test a target in this region Greenfields Frontier.

The drill target “Cottage” was identified as a regionally significant gravity and magnetic feature that was identified during our extensive review of the East Tennant (IOCG) province combined with our follow up ground gravity survey over the area. A two-diamond drill hole program was designed to test the 8 x 5km body which is modelled as a central pipe-like response with an associated magnetic root system that was within 200m of surface.

Above: Drill rig in operation at the ‘Cottage’ prospect drilling BKDD001, September 2021.

Neighbouring explorers including Newcrest Mining Limited (ASX:NCM), Middle Island Resources (ASX:MDI), Encounter Resources (ASX:ENR) and Inca Resources (ASX:ICG) are all conducting active exploration programs across the region which we are watching closely while we investigate the potential of alternative geophysical methods that may be more suitable in this frontier region.

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