CAPITAL MARKETS

Strategic soars on 'lost' assays

SHARES in Strategic Elements jumped as much as 96% today after the company released an assay resu...

Kristie Batten

This article is 11 years old. Images might not display.

The company found old records for its Aorangi gold mine in New Zealand, which included underground exploration assays of 663.8gpt gold over 0.75m, including 5324.5gpt gold over 0.25m, from a sample of specimens.

The results reported gold mineralisation as continuing below the historical mine.

The assays also allowed the company to estimate an average head grade of 46.9gpt gold from production records.

“After reviewing over approximately 1000 pages of information, due diligence and field validation, investigation of the Aorangi mine at depth is the next step,” Strategic Elements managing director Charles Murphy said.

“Work has also begun to understand any potential early mine development opportunities, including drilling and underground sampling requirements along with identifying optimal means of regaining access to the historic workings.

“The wider Golden Blocks goldfield truly is a forgotten, exceptionally high grade early 1900’s goldfield.”

The Aorangi mine has been closed since 1914, though the No. 3 Level has around 300m of completed underground development left unmined.

The company plans to seek permits for underground exploration.

Strategic Elements shares hit a high of A10c, but were last trading 17.6%, or 0.9c higher, at 6c.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.