Strategic Energy Resources Limited (ASX:SER) Puts a Drill Rig on Diamantina's 4km Copper-Gold Anomaly

Sonal Goyal

28 October 2026 01:11 PM AEDT

Strategic Energy Resources Limited (ASX:SER) Puts a Drill Rig on Diamantina's 4km Copper-Gold Anomaly

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key Highlights

Diamond drilling has started at the Elizabeth Springs East Prospect within the 100%-owned Diamantina Copper-Gold Project in western Queensland.
The two-hole program totals about 1,500m and follows historical hole DTD002, which returned 161m @ 0.4% Cu and 0.11g/t Au from 449m.
The first hole, about 800m long, is partly funded by a $275,000 Queensland Government Collaborative Exploration Initiative grant.
Historical drilling covers only an 800m x 800m area inside a 4km x 2km coincident magnetic and gravity anomaly.

Strategic Energy Resources Limited (ASX:SER) has started diamond drilling at the Elizabeth Springs East (ESE) Prospect, part of its 100%-owned Diamantina Copper-Gold Project, which sits 280km south of Cloncurry in western Queensland. The program consists of two holes totalling about 1,500m and is designed to test for extensions to copper-gold and copper-nickel mineralisation found in earlier drilling. It is the third and final leg of the company's back-to-back 2026 field season, following diamond programs at the Canobie Copper Project and the Bulimba Gold Project.

Two Holes Aimed at Known Mineralisation

The first diamond hole is planned at roughly 800m and will be drilled to the east beneath coiled tube hole DCT010. That hole returned 6.5m @ 0.52% Cu and 0.16% Ni from 423m and sits approximately 500m south-west of DTD002. Because the coiled tube rig sampled only the top of basement, the polymict sulphide breccia in DCT010 has never been tested at depth. Petrophysical testing showed the breccia to be conductive, so a down-hole electromagnetic survey will be run to look for off-hole conductors.

DCT010 is the only hole at ESE to have intersected polymict sulphide breccia with an elevated copper-nickel signature. Petrology and scanning electron microscope work identified a later, porous hydrothermal pyrite phase enriched in copper and nickel, interpreted as a variant of the known Mt Isa iron oxide copper-gold (IOCG) model.

The second hole will step out from DTD002 to test for extensions of the high-grade copper-gold zone, guided by geophysical data that was reprocessed and remodelled during the company's technical review earlier in 2026.

What DTD002 Returned at Elizabeth Springs East

DTD002 was the first hole drilled by Anglo American at ESE, targeting a high gravity feature 400m south of ES-08-02, the 2008 hole drilled by Red Metal Limited that intersected IOCG alteration with low levels of elevated copper. DTD002 recorded 161m @ 0.4% Cu and 0.11g/t Au from 449m, associated with a magnetite-rich IOCG alteration assemblage.

Within that interval sits 17.3m @ 1.76% Cu and 0.37g/t Au from 465.3m, made up of intense magnetite alteration with chalcopyrite-bearing veins. Narrower zones inside it include 0.21m @ 8.3% Cu and 8.27g/t Au from 465.89m and 0.67m @ 25.6% Cu and 1.29g/t Au from 482m.

DTD006b, drilled 80m away, intersected 87.3m @ 0.30% Cu and 0.16g/t Au from 489.7m, while DTD005b recorded 13.2m @ 0.44% Cu and 0.11g/t Au from 545.8m.

Project Footprint and Work Since Acquisition

Most drilling at ESE sits inside an 800m x 800m area, within a 4km x 2km coincident magnetic and gravity anomaly, so the larger part of the prospect has not been drill tested. The Diamantina Project comprises two granted exploration licences, EPM27134 and EPM27135, plus four adjoining applications, EPM29278 to EPM29280 and EPM29305. Together they cover more than 1,800km2 of the projected undercover southern extension of the Mt Isa Eastern Fold Belt, bounded to the west by the Pilgrim Fault.

SER announced the 100% acquisition from Anglo American in July 2025, so drilling starts 15 months after the company secured the project. Since then it has lodged the four licence applications, secured the $275,000 grant and completed a technical review of all historical datasets, which identified a new, untested magnetic anomaly in the far west of the project.

Where the Field Season Stands

With the rig now turning at Elizabeth Springs East, SER has drill programs under way or completed across three Queensland projects in 2026: Diamantina, the Canobie Project held in joint venture with FMG Resources, and the Bulimba Gold Project held in joint venture with Sumitomo Metal Mining Oceania. Managing Director Dr David DeTata said the first hole targets the never-tested copper-nickel breccia at the base of DCT010 and the second seeks to extend known high-grade copper-gold mineralisation. Assay results for all three projects are due over the coming months.

FAQs

Q: What is the drilling program at Elizabeth Springs East?

A: It is a two-hole diamond program of about 1,500m at the Diamantina Copper-Gold Project. One hole targets the copper-nickel sulphide breccia below DCT010 and the other steps out from DTD002.

Q: What did DTD002 intersect?

A: DTD002 returned 161m @ 0.4% Cu and 0.11g/t Au from 449m, including 17.3m @ 1.76% Cu and 0.37g/t Au from 465.3m.

Q: How is the first hole funded?

A: It is partly funded by a $275,000 Queensland Government Collaborative Exploration Initiative grant. The hole is planned at about 800m and will be followed by a down-hole electromagnetic survey.

Q: How large is the Diamantina Project?

A: It covers more than 1,800km2 across two granted exploration licences and four adjoining applications in western Queensland, 280km south of Cloncurry.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.