The Penny South Gold Project is located in a located in world class gold district, approximately 450km northeast of Perth and 100km southwest of Sandstone. Access to the tenement is via the Great Northern Highway and the unsealed Paynes Find to Sandstone Road as far as Youanmi and then southwards on the Youanmi to Lake Barlee Road.

The Penny South Project lies ~550m south of one of Australia’s highest grade producing gold mines, the Penny West/North Gold Mine (“Penny”) owned and operated by Ramelius Resources Limited (ASX:RMS) with an estimated resource of 440,000t of ore at 22g/t Au (320,000oz Au).

Historic drilling at the Penny South Gold Project has encountered various significantly anomalous intersections of gold mineralisation, which are currently being compiled and assessed. Over 1,000 drill holes have been completed within E57/1045, mostly RAB and AC holes with RC holes accounting for only ~3% of the drill holes.

Strata Minerals, together with its consultants, will seek to compile and review all geological, geochemical, and historic drill hole data with the aim to define high priority drilling targets at depths greater than 80m below surface, a search space that has been neglected by previous explorers.