Strickland Metals has reported multiple high-grade gold intercepts from its Gradina Prospect in Serbia, confirming extensive mineralisation and paving the way for a maiden Mineral Resource Estimate later this year.
- Multiple high-grade gold intercepts confirm mineralisation continuity over 1,000m strike and 900m vertical extent
- Significant drill results include 14.3m at 8.0g/t Au and 6m at 5.7g/t Au
- Mineralisation remains open in all directions, with substantial untested zones up-dip
- Maiden Mineral Resource Estimate for Gradina targeted for second half of 2025
- Company well-funded with $33.8 million in cash and shares, six rigs planned for 2025 drilling campaign
Exploration Success at Gradina
Strickland Metals Limited (ASX: STK) has delivered a compelling update from its Rogozna Gold and Base Metals Project in Serbia, highlighting multiple high-grade gold intercepts at the Gradina Prospect. The recent drilling campaign, completed in late 2024, has confirmed the continuity of gold-dominant mineralisation over an extensive area, reinforcing the prospect's potential to contribute significantly to the project’s overall resource base.
Key assay results include a standout intercept of 14.3 metres grading 8.0 grams per tonne (g/t) gold from 516.9 metres depth, alongside other notable hits such as 6 metres at 5.7 g/t Au and 12 metres at 3.6 g/t Au. These results extend the known mineralisation over approximately 1,000 metres of strike length and 900 metres vertically, with the system remaining open in all directions, particularly up-dip where drilling has yet to test a vertical zone between 150 and 400 metres below surface.
Strategic Implications and Upcoming Milestones
These drilling outcomes underpin Strickland’s confidence in delivering a maiden Mineral Resource Estimate (MRE) for Gradina in the second half of 2025. This follows on from imminent MRE updates for the Medenovac deposit, expected by late February, and the cornerstone Shanac Deposit scheduled for late March. Together, these milestones will provide investors with a clearer picture of Rogozna’s growing resource inventory, which currently stands at approximately 5.4 million ounces gold equivalent (AuEq).
Managing Director Paul L'Herpiniere emphasized the significance of the results, stating that the exploration success continues to validate the scale and upside of the Rogozna project. He highlighted Gradina’s role in adding a high-grade, gold-focused deposit to the portfolio, enhancing the project's development optionality and potential economic value.
Robust Funding and Aggressive Drilling Plans
Strickland enters 2025 with a strong financial position, holding $33.8 million in cash and shares, enabling an aggressive exploration program. The company plans to deploy six diamond drilling rigs starting early March, prioritizing the untested up-dip zones at Gradina to further delineate shallow, high-grade mineralisation. This extensive drilling campaign aims to expand the resource footprint and support future development scenarios.
The geological setting at Gradina is characterised by a large-scale magmatic hydrothermal system with skarn-hosted Au-Cu-Zn-Ag-Pb mineralisation. The recent drilling intersected silicified garnet skarn with semi-massive pyrrhotite and associated sulphides, consistent with the high-grade gold mineralisation observed.
Outlook and Market Context
Strickland’s methodical approach to exploration and resource definition at Rogozna positions it well within the competitive gold exploration landscape. The combination of high-grade intercepts, open mineralisation, and a well-funded drilling program provides a strong foundation for resource growth and potential project advancement. The upcoming resource estimates will be critical in shaping market perceptions and investment interest.
While the results are promising, the full economic potential of Gradina will depend on the forthcoming resource modelling, metallurgical test work, and further drilling to confirm continuity and depth extensions. The company’s ability to convert exploration success into a robust resource base will be closely watched by investors and analysts alike.
Bottom Line?
Strickland Metals’ Gradina drilling success sets the stage for a pivotal resource update that could redefine the Rogozna project’s value proposition.
Questions in the middle?
- How will the maiden Mineral Resource Estimate at Gradina compare to existing deposits at Rogozna?
- What are the metallurgical characteristics and expected recoveries for the high-grade gold mineralisation at Gradina?
- How might the upcoming drilling campaign impact the overall project timeline and development plans?