Strategic Energy Resources Concludes Gravity Survey at Canobie Project in Queensland; Shares Jump 10%

MT Newswires Live08-22

Strategic Energy Resources (ASX:SER) concluded its third major gravity survey at the Canobie project in Queensland, according to a filing with the Australian Exchange on Thursday.

The new gravity data will be analyzed with existing datasets to refine the exploration model and prioritize drill targets for future testing, it said.

Canobie is a joint project between Strategic Energy and Fortescue's (ASX:FMG) FMG Resources subsidiary under a farm-in and joint venture agreement.

Strategic Energy Resources' shares jumped nearly 10% in recent Thursday trade, while Fortescue's shares gained about 2%.

Price (AUD): $0.02, Change: $+0.0020, Percent Change: +9.52%

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