Strickland Metals Strikes 80m Gold-Equivalent Zone at Shanac Deposit in Serbia
Strickland Metals reports a significant 80.2m intercept grading 1.9g/t AuEq at its Shanac Deposit in Serbia, setting the stage for a resource upgrade in March 2025.
- 80.2m @ 1.9g/t AuEq intercept expands Shanac Deposit
- Shanac Deposit hosts 4.6Moz AuEq, resource update due late March
- Six diamond rigs to restart drilling in March targeting resource growth
- Final assays from Gradina Deposit expected by end of January
- Medenovac maiden resource estimate targeted for late February
Robust Drilling Results at Shanac
Strickland Metals Limited (ASX: STK) has kicked off 2025 with a compelling drilling update from its Rogozna Gold and Base Metals Project in Serbia. The company announced an impressive intercept of 80.2 metres grading 1.9 grams per tonne gold equivalent (AuEq) from diamond drill-hole ZRSD24166 at the cornerstone Shanac Deposit. This intercept notably includes a higher-grade zone of 11.7 metres at 4.3g/t AuEq, underscoring the deposit’s potential for significant vertical extensions.
The Shanac Deposit currently hosts an inferred resource of approximately 4.6 million ounces AuEq. The new drilling results are expected to materially enhance the upcoming Mineral Resource Estimate (MRE) update scheduled for late March 2025, which will be closely watched by investors and analysts alike.
Strategic Resource Growth and Exploration Plans
Strickland’s Managing Director, Paul L’Herpiniere, emphasised the quality of the intercept and its implications for the project’s growth trajectory. He highlighted that the drilling has mapped out the copper-gold skarn mineralisation to approximately 180 metres in width at the southern end of the deposit, with mineralisation remaining open at depth. This bodes well for not only the Shanac resource upgrade but also for the broader Rogozna Project, which encompasses multiple deposits.
Looking ahead, the company plans to recommence an extensive drilling campaign in early March 2025, deploying six diamond rigs. This program aims to deliver further resource upgrades and test several high-priority exploration targets across the project area, including the Medenovac Deposit, which is on track for its maiden resource estimate by late February 2025.
Complementary Deposits and Assay Results
In addition to Shanac, Strickland is awaiting final assay results from the high-grade, gold-dominant Gradina Deposit, expected by the end of January. Gradina, along with Copper Canyon and Medenovac, forms part of the 100%-owned Rogozna Project, which collectively hosts an estimated 5.4 million ounces AuEq.
The company’s geological model continues to evolve, with the copper-gold skarn mineralisation characterized by disseminated to semi-massive sulphides including pyrite, chalcopyrite, and magnetite. The recent intercepts confirm the vertical zonation and complexity of the mineralisation, reinforcing the potential for further discoveries and resource expansion.
Market and Strategic Implications
Strickland’s methodical approach to resource definition and exploration at Rogozna positions it well for a year of value creation. The combination of strong assay results, multiple resource upgrades, and a multi-rig drilling campaign signals a robust pipeline of catalysts for shareholders. The company’s focus on both gold and base metals within a polymetallic skarn system adds diversification and potential upside in varying commodity cycles.
While the market will be keenly awaiting the March resource update, the ongoing drilling and assay results through 2025 will be critical in shaping Strickland’s valuation and strategic options. The company’s ability to convert exploration success into resource growth will be a key determinant of its trajectory in the competitive gold and base metals sector.
Bottom Line?
Strickland’s Shanac intercept sets a strong tone for 2025, with resource upgrades and drilling campaigns poised to unlock further value.
Questions in the middle?
- How will the upcoming Shanac resource update impact Strickland’s market valuation?
- What are the exploration upside potentials at Medenovac and Gradina beyond current estimates?
- How might commodity price fluctuations affect the economic viability of the Rogozna polymetallic system?
