Strickland’s Exploration Success Raises Stakes Amid Market Uncertainties
Strickland Metals has reported exceptional drilling results from its Rogozna Project in Serbia and Yandal Project in Western Australia, alongside a robust financial footing to support ongoing exploration.
- Significant high-grade gold intersections at Rogozna's Shanac, Medenovac, Kotlovi, and Gradina prospects
- New mineralisation discovery at Kotlovi prospect with substantial intercepts
- Yandal Project drilling extends mineralisation at Bronco and Marwari deposits
- Strong cash position of approximately $33.8 million including Northern Star shares
- Six diamond rigs planned to resume drilling in March 2025 targeting resource upgrades
Robust Drilling Success at Rogozna Project
Strickland Metals Limited has delivered a compelling update for the December 2024 quarter, highlighting outstanding drilling results from its flagship Rogozna Project in Serbia. The project, boasting an inferred mineral resource of approximately 5.4 million ounces gold equivalent (AuEq), continues to reveal thick, high-grade zones of gold and base metals mineralisation across multiple prospects.
Notably, drill hole ZRSD24167 at the Shanac High Grade Gold Zone intersected 272.3 metres at 1.8g/t AuEq, including a remarkable 12 metres at 6.2g/t Au. Similarly, the Medenovac Strike Extension (hole ZRSD24159) returned 223 metres at 1.7g/t AuEq, featuring a high-grade interval of 19.7 metres at 6.8g/t AuEq. These results reinforce the continuity and scale of mineralisation within the Rogozna system.
Discovery and Expansion at Kotlovi and Gradina Prospects
A significant new discovery was made at the Kotlovi Prospect, where scout drilling intersected multiple mineralised zones, including 40.3 metres at 2.6g/t Au from 558.1 metres. This discovery, located just 350 metres west of Medenovac, suggests a large target volume with potential for extensive high-grade mineralisation. Meanwhile, the Gradina Prospect drilling extended mineralisation vertically over 800 metres and along strike for about 1 kilometre, with high-grade gold intercepts such as 48.5 metres at 3.1g/t Au, including 9.8 metres at 10.9g/t Au.
Yandal Project Advances with Encouraging Gold Intercepts
In Western Australia, the Yandal Project continues to progress with positive drilling outcomes at the Bronco and Marwari Gold Deposits. At Bronco, high-grade plunging shoots were delineated, including 18.5 metres at 1.7g/t Au, while step-out drilling extended mineralisation at the Konik lode by 100 metres. Marwari's mineralised trend now exceeds 1.6 kilometres in strike length, with recent intercepts such as 12 metres at 5.4g/t Au confirming the revised structural interpretation.
Financial Strength Supports Aggressive Exploration
Strickland Metals remains well-capitalised to advance its exploration programs, ending the quarter with approximately $13.7 million in cash and an additional $20.1 million in Northern Star Resources shares. The company invested $5.85 million in exploration and evaluation during the quarter, focusing primarily on its Serbian and Western Australian projects. With six diamond rigs scheduled to recommence drilling in early March 2025, the company is poised to target further resource upgrades and new discoveries.
Outlook and Strategic Implications
The combination of robust drilling results, new discoveries, and a strong balance sheet positions Strickland Metals as a compelling player in the gold exploration sector. The expanding footprint at Rogozna, coupled with the advancing Yandal Project, underscores the company's potential to significantly grow its resource base. Investors will be watching closely as the March drilling campaign unfolds and updated resource estimates are expected.
Bottom Line?
Strickland’s latest results and financial health set the stage for a pivotal year of exploration and resource growth.
Questions in the middle?
- How will upcoming drilling results impact the current resource estimates at Rogozna and Yandal?
- What is the potential scale and grade of the newly discovered Kotlovi mineralisation?
- How might evolving geopolitical and market conditions in Serbia affect project development timelines?
