How Strickland Metals Is Uncovering New High-Grade Zones at Shanac Deposit

Robust Drilling Results at Shanac Deposit

Strickland Metals Limited (ASX, STK) has released encouraging assay results from two recently completed diamond drill holes at the Shanac Deposit, a cornerstone asset within its 7.4 million ounce gold equivalent (AuEq) Rogozna Project in Serbia. The new intercepts demonstrate both bulk-tonnage and higher-grade mineralisation, reinforcing the deposit’s potential and extending known mineralised zones on the western side of the Central Domain.

The standout results include a 244.4-metre intercept grading 1.3 g/t AuEq from 342.3 metres depth, featuring an 82.7-metre section at 2.0 g/t AuEq, and a 132.9-metre intercept at 1.4 g/t AuEq with a higher-grade 32.7-metre segment at 2.2 g/t AuEq. These intercepts notably exceed the grades in the current resource model, particularly the latter, which is more than 50% stronger than previous estimates in that area.

Strategic Exploration and Funding Momentum

Strickland’s Managing Director, Paul L’Herpiniere, highlighted the significance of these thick mineralised zones, emphasizing their contribution to improving continuity and the exciting potential for further extensions. With seven diamond rigs currently operating; five at Gradina, one at Shanac, and one following up the Kotlovi discovery from late 2024; the company is executing its largest-ever exploration program at Rogozna in 2025.

Financially, Strickland remains well-positioned with $34.8 million in cash and liquid assets as of March 31, 2025, bolstered by a $5 million strategic investment from Zijin Mining. This strong funding base underpins ongoing drilling and resource development efforts across multiple prospects within the project.

Geological Insights and Mineralisation Style

The Shanac Deposit features skarn-hosted gold and base metals mineralisation, with sulphide assemblages dominated by pyrite, sphalerite, galena, and chalcopyrite. The recent drilling targeted the lithological contact between skarn and andesite on the western side of the central dyke, an area previously less drilled compared to the eastern side. The mineralisation style includes disseminated, vein-hosted, and semi-massive to massive sulphide zones, with higher concentrations of zinc, lead, and silver in the western domain.

These geological characteristics, combined with the thick and continuous intercepts, suggest a robust mineral system with potential for both bulk-tonnage and higher-grade extraction, supporting future resource upgrades and development planning.

Looking Ahead, Pending Assays and Resource Growth

Assays are awaited for twelve additional drill holes, including two at Shanac and eight at Gradina, with results expected to be released progressively. The company plans to refocus drilling at Shanac to test lateral extensions of the high-grade gold skarn zone previously identified, which included an intercept of 89.7 metres at 4.0 g/t AuEq.

These ongoing exploration activities, combined with the strong financial backing and strategic partnerships, position Strickland Metals to potentially expand its resource base and enhance the value of the Rogozna Project in the months ahead.