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Nickelx Ltd ( (AU:SMX) ) has provided an update.
Strata Minerals has strengthened its position in Western Australia’s Eastern Goldfields by exercising an option to acquire 100% of the Zelica Gold Project and purchasing the adjoining Zelica South tenement, expanding the Zelica footprint fivefold to encompass about 8km of prospective gold strike. The company has commenced a maiden reverse circulation drilling program at Zelica to validate and extend historical high-grade oxide gold intercepts, is planning initial work programs at underexplored Zelica South, and has confirmed encouraging geological continuity at its Penny South Gold Project. Backed by a cash balance of $1.4 million and $1.1 million in recent equity funding earmarked for exploration, Strata is using its strengthened balance sheet to accelerate drilling and project evaluation, positioning the company for potential new gold discoveries and enhancing its exploration portfolio in a highly prospective gold district.
The most recent analyst rating on (AU:SMX) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Nickelx Ltd stock, see the AU:SMX Stock Forecast page.
More about Nickelx Ltd
Strata Minerals Limited (ASX: SMX) is an Australian gold exploration company focused on advancing projects in Western Australia’s Eastern Goldfields, including the Zelica and Penny South gold projects, targeting high-grade, near-surface and structurally hosted gold mineralisation within proximity to established >1Moz deposits and processing infrastructure.
Average Trading Volume: 802,564
Technical Sentiment Signal: Buy
Current Market Cap: A$7.82M
For a thorough assessment of SMX stock, go to TipRanks’ Stock Analysis page.