The Australian Reported that Strategic Energy (ASX:SER) has been granted a licence to drill within the Defense Department’s Cultana training area. The site is located south of Port Augusta and close to BHP’s Olympic Dam project.
As quoted in the market news:
SER’s confidence is based on “excellent” previous drill targets identified by aerial surveys and three shallow holes drilled in 1971.
The company’s chief, Mark Muzzin, commented:
We believe this property to be one of the best relatively unexplored areas in South Australia.