Strategic Energy Resources (SER) has announced the granting of the Bulimba Gold Project exploration licences in northeast Queensland. Covering 1,315 sqkm, the project lies within the Palmerville / Gamboola Fault Zone, an area known for significant Au-Cu deposits, including Mungana and Red Dome. SER Managing Director, Dr David DeTata, highlighted the region’s 20+Moz gold endowment, stating the company has been waiting for the tenements to become available. SER plans to pursue land access agreements and commence exploration this year.
Predictive lithospheric targeting identified Bulimba as a nexus of major structures, ideal to host Intrusion Related Gold Systems (IRGS) deposits, analogous to Red Dome and Mungana. Prior exploration by Newcrest Mining identified geochemical signatures consistent with IRGS. These anomalies were never followed up, and will be the focus of future exploration. Specifically, soil sampling revealed elevated Au-Cu-Zn-Mo-As at the Sandy and Walsh Prospects, coherent multi-element anomalies consistent with intrusion-related gold-copper systems. The Sandy Prospect, a 6km by 3km feature on the Gamboola fault, showed peak gold in soil values of 3.8ppb Au. The Walsh Prospect, an ovoid anomaly, exhibited peak values of 14ppb Au. These results, coupled with the presence of younger sedimentary cover potentially subduing geochemical responses, indicate promise for further exploration.
SER’s next steps involve land access negotiations, reconnaissance mapping, and geochemical sampling. With the project now granted, land access agreements are being negotiated. Innovative magnetic remanence studies will also be utilized to rank magnetic anomalies across the project. SER will undertake meaningful on-ground exploration later this year.
