Strickland Metals Boosts Rogozna to 7.4Moz AuEq, Launches 50,000m Drill Campaign

Rogozna Project: A Leap in Resource Scale

Strickland Metals Limited has unveiled a significant milestone in its Serbian Rogozna Gold and Base Metals Project, reporting an increase in the inferred Mineral Resource Estimate (MRE) to 7.40 million ounces gold equivalent (AuEq). This marks an approximate 2 million ounce AuEq uplift since acquiring the project in July 2024. The maiden MRE for the Medenovac Deposit alone accounts for 1.28Moz AuEq, while the Shanac Deposit’s updated MRE now stands at 5.30Moz AuEq, reflecting a 0.70Moz AuEq increase.

These resource expansions were achieved at an impressively low cost of just A$3 per ounce AuEq, underscoring the efficiency of Strickland’s exploration approach. The company has already commenced a major 50,000-metre diamond drilling campaign with six rigs active, aiming to further grow the resource base and unlock new discoveries across the Rogozna tenure.

Yandal Project: Doubling Down on Gold Growth

In Western Australia, Strickland’s Yandal Project continues to deliver with an updated MRE for the Horse Well Gold Camp adding 143,400 ounces of gold, bringing the camp’s total to 291,500 ounces. This contributes to a project-wide inferred resource of 400,400 ounces Au, a 56% increase since 2019. The company’s exploration has transformed Horse Well from a collection of small deposits into a coherent, high-grade mineral system spanning over 3 kilometres of strike.

Complementing this growth, metallurgical testwork confirms that fresh ore from Horse Well is amenable to conventional gravity and cyanide leaching processes, with gold recoveries ranging from 78.5% to 88.6%. The ore’s favourable characteristics, including low carbon and arsenic content, reduce processing complexity and enhance economic prospects.

Strategic Funding and Future Outlook

Strickland’s exploration momentum is underpinned by a strategic non-brokered placement of A$5 million completed with Zijin Mining, one of the world’s largest mining groups. This partnership not only strengthens Strickland’s balance sheet but also aligns it with a major industry player experienced in large-scale copper and gold operations, including significant assets in Serbia.

At quarter-end, Strickland held approximately A$22 million in cash and an additional A$12.8 million in Northern Star Resources shares, providing a robust financial platform to support its aggressive exploration and resource development programs.

Looking ahead, the company’s extensive drilling plans at Rogozna target multiple prospects including Medenovac, Shanac, Gradina, Kotlovi, and Red Creek, with a focus on expanding high-grade mineralisation and testing for blind porphyry copper-gold systems concealed beneath volcanic cover. Concurrently, at Yandal, drilling will focus on depth extensions and integrating unclassified mineralisation trends to further enhance resource confidence and scale.

Navigating Opportunities and Challenges

Strickland’s advances come amid a supportive Serbian mining jurisdiction, with established infrastructure and a 5% net smelter royalty regime. The company’s strategic positioning in both Serbia and Western Australia offers diversified exposure to gold and base metals in prolific geological settings. However, the inferred nature of the current resources means further drilling and studies are essential to upgrade classifications and define economic viability.

With no mining production yet commenced, the focus remains firmly on exploration and resource definition. The company’s progress towards mining licence applications, particularly at Horse Well, will be critical milestones to watch as they pave the way for potential development and production.