Strategic Energy Resources (ASX:SER) to buy QLD project from Newcrest Mining (ASX:NCM)
SubscribeBe the first with the news that moves the market
Strategic Energy Resources (SER) has signed an agreement with Newcrest Mining (NCM) to acquire the Isa North Copper-Gold Project in Queensland
The project comprises three exploration licences and is highly prospective for iron oxide copper-gold (IOGC) mineralisation
Strategic Energy will purchase 100 per cent of the project, and Newcrest will retain a first right of refusal to any future transaction and a one per cent net smelter royalty for up to 10 years of production
Once the project is officially transferred, the company will begin land access negotiations while it refines drill targets