viewStrategic Elements Ltd

Strategic Elements will drill potential meteorite structure at Behemoth Project

The project has been deemed by expert geologists to be worthy of inclusion in the WA Exploration Incentive Scheme.

Project area in Gibson Desert
The company is “very satisfied” with an independent review of the project in WA’s Gibson Desert

Strategic Elements Ltd (ASX:SOR) highly prospective Behemoth Project in Western Australia has been acknowledged by independent geologists as being worthy of proceeding with a drilling program.

A review prepared by the geologists has led to the project being approved for Western Australia’s Exploration Incentive Scheme (EIS), a highly competitive program for innovative exploration drilling projects.

$150,000 in EIS funding

While this will result in the company receiving $150,000 in EIS funding for a drilling program, the company’s managing director Charles Murphy said the outcome of the independent review was also welcome.

“It is such a unique and unusual project and it was very satisfying to go through an independent review process and to win the EIS funds.

“They have some of the best independent geologists reviewing these applications who have determined that the Behemoth Project is worthy and merits drilling.”

Meteorite impact structure

Behemoth contains large gravity and IP geophysical anomalies buried within a potential meteorite impact structure and has potential for nickel, copper, gold and rare earths.

Historical gold soil anomalies over magnetics at Behemoth.

Strategic Elements joins some illustrious company in the latest round of EIS funding, including AngloGold Ashanti (ASX:AGG), BHP Group Ltd (Nickel West) (ASX:BHP) and Rio Tinto Exploration (ASX:RIO).

Independence Group NL’s (ASX:IGO) Fraser Range copper–zinc discovery at their Andromeda project was enabled with the assistance of co-funded drilling.

The Nova-Bollinger mine site was also discovered by Sirius Resources using EIS co-funded drilling.

Drilling of anomalies planned

Strategic Elements will apply the EIS funding to drill IP survey anomalies recently discovered at Behemoth.

Murphy said: “Geophysical anomalies generated through the gravity and IP surveys conducted in the field along with subsequent modelling and analysis generated the conviction to drill at the Behemoth Project.

“It’s a high risk-high high-reward project, however as a company we are intentionally chasing opportunities with very large-scale upside.”

READ: Strategic Elements continues to advance dual focus on IoT and resources

IP surveys are used to detect sulphides with potential for nickel, copper, gold and/or rare earths.

The Behemoth IP survey was described as an “outstanding success” with three large-scale anomalous zones discovered with potential to host sulphides that are open and well within modern drilling depths.

Experts are divided on whether a large multi-ringed feature seen in magnetic data is caused by the impact of a meteorite or by an intrusion of magma.

Irrespective of the cause of the rings, the IP survey anomalies may indicate large zones of disseminated sulphides.

READ: Strategic Elements completes extension to survey at Behemoth Project

Of the IP survey, Murphy said: “It’s an exciting proposition to consider the potential scale of the project and that less than half of the gravity anomaly has been subject to IP survey to date.”

Strategic Elements will complete drill target generation in a matter of weeks and will then start the process of lodging a Program of Works.

Quick facts: Strategic Elements Ltd

Price: 0.46 AUD

Market: ASX
Market Cap: $174.05 m

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