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Strategic Elements readies drilling at copper-gold-rare earths project

The target is a potential meteorite impact site in the Gibson Desert in Western Australia.

Strategic Elements Ltd - Strategic Elements readies drilling at copper-gold-rare earths project
Construction of a 12-kilometre access track will commence over the next few days

Strategic Elements Ltd (ASX:SOR) has contracted an experienced team to commence drilling at the Behemoth Copper-Gold-Rare Earths Project in the Gibson Desert, Western Australia.

Access track and drill pad construction has commenced at the potential meteorite site and drilling is expected to commence within the next three to four weeks.

The company is awaiting final confirmation of the availability of a specialist rig most suitable for a range of conditions that potentially occur at the target site.

Several holes will target the magnetic and induced polarisation (IP) anomalies picked up from surveys conducted on the area.

Experts are divided on whether the large buried multi-ringed magnetic feature is caused by the impact of a meteorite from above, an intrusion of magma from below and/or an associated mineral system.

Drilling aims to intersect nickel, copper, gold-bearing sulphides or rare earths.

High risk, high reward

Strategic Element’s managing director Charles Murphy said: “We made the decision to wait for confirmation of a particular type of rig that will be best suited to handling the conditions of the known terrain and more importantly anything that a potential meteorite impact site could potentially create at Behemoth.

“Behemoth is a high risk, high reward project situated in an area that has almost no drilling or known sub-surface geology.

“It is an unusual project, however the feedback from a range of experts and the very large-scale anomalies generated from the recent IP geophysical surveys have provided the momentum to move forward with drilling.”

Government funding to assist with drilling costs

The government EIS funding is to be applied towards drilling the survey anomalies discovered at the Behemoth Project.

The recent IP surveys were used to detect potential zones of sulphides with potential for nickel, copper, gold and rare earths.

Notably, the IP survey discovered three large scale anomalous zones that are open and well within modern drilling depths.

The full drilling program and schedule will be provided once the rig has been confirmed.

Quick facts: Strategic Elements Ltd

Price: 0.48 AUD

Market: ASX
Market Cap: $181.62 m

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