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Mining industry

Strata Minerals Limited Commences Diamond Drilling at Penny South Gold Project

Strategic Insights

— 2 min read

Strata Minerals Limited has made a significant step forward in the exploration of the Penny South Gold Project in Western Australia, with diamond drilling operations now underway. This program marks the first time diamond drilling is conducted at the site, and it is expected to comprise approximately 1,250 meters of drilling, focusing on key target areas identified in prior exploration. The initiative underscores Strata's commitment to unlocking the project's potential within a world-class gold district.

Key Takeaways:

  • The diamond drilling program at Penny South Gold Project will comprise approximately 1,250 meters of drilling, focusing on key target areas identified in prior exploration.
  • The drilling will include a deep EIS co-funded hole at Target 1, which will test directly for interpreted down-plunge extension of mineralisation from the Penny Mine located ~500m to the north of Strata's tenement boundary.
  • The deep EIS hole is expected to be drilled to a depth of approximately 800m, covering up to 50% of direct drilling costs and 50% of drill mobilisation costs, up to a combined maximum of $200,000.
  • Strata has integrated a deep EIS co-funded drill hole into its diamond drilling program at Target Area 1, bringing forward the drilling of the deep EIS hole to optimise resource allocation within this program.
  • The company has strategically allocated resources to complete diamond drilling at Target 3, testing down-dip and down-plunge extensions of the gold mineralisation identified in SMX009.
  • Core samples from diamond drilling will be analysed to refine geological models and guide future exploration at Penny South Gold Project.
  • Assays results are expected in 4-6 weeks post completion of drilling.

Statistics:

  • Approximately 1,250 meters of drilling will be conducted during the diamond drilling program.
  • The deep EIS hole at Target 1 is expected to be drilled to a depth of approximately 800m.
  • The EIS Grant will cover up to 50% of direct drilling costs and 50% of drill mobilisation costs, up to a combined maximum of $200,000.
  • Strata has allocated resources to complete diamond drilling at Target 3, testing down-dip and down-plunge extensions of the gold mineralisation identified in SMX009.
  • The Penny South Gold Project is located in a world-class gold district and covers a strike length of 2.5km.

Sources:

  • "Drilling to recommence at Penny South Gold Project" (ASX.SMX, July 22, 2025)
  • The article announcing the commencement of diamond drilling at Penny South Gold Project
  • Exploration Incentive Scheme (EIS) Grant awarded under Round 31 of the competitive EIS Grant process
  • Geological Survey of Western Australia and the Resources Strategy Division of the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS)

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