Strickland Metals Unveils High-Grade Gold Hits at Gradina Ahead of Maiden Resource

Strong Drilling Results Bolster Gradina's Profile

Strickland Metals Limited (ASX – STK) has delivered another round of encouraging assay results from its ongoing diamond drilling campaign at the Gradina deposit, part of the larger Rogozna Gold and Base Metals Project in Serbia. The latest three drill holes have intersected substantial zones of high-grade gold mineralisation, including a standout intercept of 19.6 metres grading 7.0 grams per tonne gold, with a peak 4-metre section hitting 14.8 grams per tonne.

These results continue to affirm Gradina's status as a key asset within the ~7.4 million ounce gold equivalent Rogozna project, which has been steadily building its resource base through systematic exploration. The mineralisation remains open in all directions, notably up-dip towards surface, where geochemical soil sampling indicates strong gold and pathfinder element anomalies.

Active Drilling Program and Strategic Importance

Currently, eight diamond drilling rigs are operational across the Rogozna project, with four dedicated to advancing the Gradina deposit. This intensive drilling effort is designed to underpin a maiden Mineral Resource Estimate (MRE) targeted for release by late 2025. The company is focused on both infill and extensional drilling to confirm continuity and expand the known mineralised zones.

Strickland’s Managing Director, Paul L’Herpiniere, emphasised Gradina’s strategic role, noting its gold-dominant nature and potential to feature early in the mining schedule. The deposit’s skarn-hosted mineralisation, associated with strong pyrrhotite alteration, presents a compelling opportunity for resource growth and project development.

Robust Financial Position Supports Exploration Momentum

Backing this exploration momentum is a solid financial foundation. As of the March 2025 quarter, Strickland reported $34.8 million in cash and liquid assets. This was further bolstered by a $5 million strategic investment from Zijin Mining, a significant player in the global mining sector. This capital strength provides the company with the flexibility to maintain its aggressive drilling program and advance the Rogozna project towards development.

The broader Rogozna project encompasses multiple prospects, including Shanac, Kotlovi, Jezerska Reka, and Obradov Potok, with drilling ongoing at several locations. The company anticipates a steady flow of assay results in the coming weeks, which will be critical to refining the resource model and guiding future exploration priorities.

Looking Ahead

With mineralisation open in multiple directions and high-grade zones confirmed at depth, Gradina is shaping up as a cornerstone deposit for Strickland Metals. The forthcoming maiden resource estimate will be a pivotal milestone, potentially reshaping the project’s valuation and investment appeal. However, as with all exploration-stage projects, further drilling and metallurgical studies will be essential to fully understand the deposit’s economic potential and mining feasibility.