Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Drilling Commences at Penny South Gold Project, Western Australia

by admin February 27, 2025
February 27, 2025
Drilling Commences at Penny South Gold Project, Western Australia

Strata Minerals Limited (ASX: SMX, “Strata” or “the Company”) is pleased to announce commencement of a maiden drill program at its Penny South Gold Project in Western Australia.

Highlights:

  • Maiden drilling program underway at Strata’s Penny South Gold Project in WA’s Goldfields
  • Drill targets lie ~500m immediately south of the high-grade Penny West and Penny North gold deposits currently being mined by Ramelius Resources Limited (ASX:RMS) (723,000 tonnes at 17g/t Au for 3G5,000 ounces1)
  • The planned reverse circulation (RC) drilling program will consist of 13-holes for ~2,800 metres, targeting two priority areas at Penny South
  • Drilling aims to test the interpreted along strike and down plunge mineralised trend from Ramelius’s Penny deposits and immediate down-dip extensions of shallow anomalous intersections from historical drilling
  • The drilling campaign, which is part of a drill-for-equity agreement with Topdrill, is expected to take approximately four weeks with initial results expected late March/April

Managing Director Peter Woods commented:

“It’s fantastic to start drilling at Penny South, targeting two of our priority target areas. We are excited to see what is uncovered at depths immediately along strike from the Penny Mine which is just to the north of us and test down dip extensions of historical shallow anomalous intersections, overlooked by the project’s previous owners. With recent gold discoveries across WA, we’re driven to make Penny South one of those success stories. This first round of drilling will provide critical information to assist us in that pursuit.”

Penny South Gold Project, WA

The Penny South Gold Project (Figure 1) is located in a world class gold district, only ~500m south of the Penny Mine Project – one of Australia’s highest grade producing gold mines, owned and operated by Ramelius Resources Limited (ASX.RMS), with Ramelius recently announcing plans to expand exploration at Penny to the south, towards the northern boundary of Strata’s tenements2.

The Penny West Shear, which controls the location of gold mineralisation at RMS’ Penny North/West gold deposits, extends south into Strata’s Penny South Project, with ~2.5km of strike contained within the project area.

The planned program of 13 reverse circulation (RC) holes, totalling 2,864 metres, aims to test the interpreted along strike and down plunge mineralised trend extensions of the high-grade Penny West and Penny North Gold Deposits, as well as investigating zones of anomalous mineralisation from historical drilling3 (Figure 2).

Strata’s identification of a demagnetised zone within Strata’s Penny South Project, similar to the one associated with the Penny West and Penny North Gold Deposits just to the north of the Penny South Project (~500m), was a key component of the targeting process. The de-magnetised zone is interpreted as the pathway of a mineralising fluid system along the key structural pathways (Figure 3).

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Crypto Market Recap: Bybit Investigates Lazarus Hack, SEC Ends Uniswap Investigation
next post
Sarama Resources Advances Mt Venn Gold Project Acquisition

Related Posts

Is Cash the Mining Industry’s Most Valuable Resource?

February 13, 2025

​Tech 5: Crypto Investors Eye Solana ETF Filings,...

July 1, 2024

5 Biggest Blockchain ETFs in 2025

June 4, 2025

Coelacanth Energy Inc. Announces Grant of Stock Options...

January 21, 2025

Trump Calls for Lower Oil Prices, Tariffs and...

January 24, 2025

Becancour Lithium Refinery Definitive Feasibility Study

February 17, 2025

How to Invest in Platinum Stocks (Updated 2024)

December 5, 2024

Lithium Universe LtdCompletes PV Solar Cell Recycling Acquisition

July 18, 2025

Augustus Minerals

July 15, 2024

Brunswick Exploration Announces 2025 Exploration Plans for Greenland...

February 24, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • CDC official who blasted Trump’s ‘weak science’ led politicized Biden-era monkeypox response

      August 31, 2025
    • Epstein estate to hand over ‘birthday book’ to lawmakers, House Dem says

      August 31, 2025
    • Dyan Cannon denied White House entry after lying about her age on passport documents

      August 31, 2025
    • Israel eliminates Houthi prime minister in Yemen airstrike targeting senior government officials

      August 31, 2025
    • Sen. Bernie Sanders calls on RFK Jr. to resign following departure of CDC officials

      August 31, 2025

    Categories

    • Business (1,092)
    • Investing (2,943)
    • Politics (3,595)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved