Strategic Energy Resources Limited (ASX:SER) has reported a highly active September 2026 quarter, marked by significant progress across its Queensland exploration portfolio and a successful capital raise. The company, a specialised under-cover explorer focused on the discovery of world-class deposits in Queensland, announced the commencement of back-to-back copper-gold drilling campaigns and the completion of a key project acquisition, underpinning a busy field season.
Diamond drilling campaigns are now underway at the Canobie Project, fully funded by Fortescue under a Farm-in and Joint Venture, targeting prospects including Charcoal Bore and Alcala. Simultaneously, at the Bulimba Gold Project, joint venture partner Sumitomo has approved an exploration budget exceeding $1 million for 2026, leading to airborne gravity gradiometry and passive seismic surveys ahead of a diamond drill program at the Coral Trout Prospect, partially supported by a Queensland Government CEI grant. The acquisition of the Diamantina Copper-Gold Project was also finalised during the quarter, with a high-impact diamond drill program supported by a $275,000 CEI grant set to commence in late October.
Managing Director Dr David DeTata noted the quarter was one of the busiest in the company’s recent history, highlighting the finalisation and execution of multiple drill programs. He emphasised that two of these programs are fully-funded by joint venture partners Fortescue and Sumitomo, while the 100%-owned Diamantina Project’s drilling is supported by a government grant. Corporate activities included a $1.7 million capital raise through a placement and share purchase plan, specifically earmarked to fund drilling at the Diamantina Project. The company ended the quarter with $2.493 million in cash, anticipating a steady flow of news as drill assays are expected from Canobie and Bulimba, with Diamantina drilling to follow.
