Strategic Energy Resources (ASX:SER) has received results from the recent drilling at the Canobie Project in northwest Queensland, as a part of the company’s farm-in and joint venture with privately held FMG Resources.
The company conducted drill testing at two geophysical anomalies at the end of 2025, which were previously uncovered in an infill gravity survey.
Drilling was conducted at the Charcoal Bore and Wills prospects.
Charcoal Bore is modelled as a cylindrical pipe to a depth of 500m, where drilling intersected basement rocks from 588m. Meanwhile, the Wills prospect intersected basement rocks from 690m.
The drill core will be relogged and samples will be selected for petrological and petrophysical analysis, submitted to the Centre of Ore Deposit and Earth Sciences.
Strategic Energy has approved an exploration budget for drill targets in the 2026 dry season.
Strategic Energy Managing Director Dr David DeTata says the third field season comprised a 1,500-station ground gravity season, a trial magnetotelluric survey, and drill testing at two geophysical targets.
“The intersection of multiple copper-gold zones at Charcoal Bore has validated our approach to drill targeting and provided further evidence of the fertility of the project and has the potential to host a major copper discovery,” DeTata says.
FMG is a wholly owned subsidiary of Fortescue (ASX:FMG), which will be eligible to earn up to an 80% stake in Canobie after funding $8 million worth of exploration in two stages of a six-year period. The agreement carries through until 2029.
Strategic Energy Resources is an Australian explorer focused on discoveries prospective for copper in Queensland.
Write to Maddison Elliott at Mining.com.au
Images: Strategic Energy Resources
