Open Mineralisation at Gradina Raises Questions on Project Scale and Timing

Robust Drilling Results at Gradina

Strickland Metals Limited (ASX – STK) has released encouraging assay results from its ongoing diamond drilling campaign at the Gradina Deposit, part of the company’s 100%-owned Rogozna Gold and Base Metals Project in Serbia. The latest drilling has returned multiple thick intercepts of high-grade gold mineralisation, including standout hits such as 39.9 metres at 4.2 grams per tonne gold (g/t Au) and a remarkable 2 metres at 30.1 g/t Au. These results underscore the deposit’s strong potential and add momentum to the company’s exploration program.

Importantly, mineralisation at Gradina remains open in all directions, including up-dip towards surface, suggesting further upside potential as drilling continues. The presence of both high-grade gold zones and broader lower-grade intervals with significant base metals highlights the complex and valuable nature of the deposit.

Strategic Drilling and Resource Development

Currently, seven diamond drilling rigs are active across the Rogozna Project, with three dedicated to the southern end of Gradina. This focused drilling aims to support the delivery of a maiden Mineral Resource Estimate (MRE) by late 2025, a critical milestone for the project’s advancement. The drilling campaign is part of a broader 50,000-metre program designed to expand and define the resource base across the project’s multiple prospects.

Strickland’s Managing Director, Paul L’Herpiniere, emphasised the significance of these results, noting the high-grade tenor and encouraging shallow intercepts that could enhance the project’s economics. The company’s well-funded position, with $52.4 million in cash and liquid assets as of June 30, 2025, provides a solid foundation to continue aggressive exploration and resource development.

Geological Context and Mineralisation Style

The Rogozna Project lies within a prolific geological setting in Serbia, characterised by a large-scale magmatic hydrothermal system hosting skarn-related gold, copper, zinc, silver, and lead mineralisation. The Gradina Deposit features skarn-hosted mineralisation with sulphide assemblages dominated by pyrite, sphalerite, galena, and arsenopyrite, spatially associated with quartz diorite intrusions. This geological complexity supports the potential for discovering additional high-grade zones as drilling progresses.

Previous exploration and metallurgical test work indicate amenability to conventional processing methods, with recoveries for key metals generally ranging between 78% and 86%. These factors contribute positively to the project’s development outlook.

Looking Ahead

With drilling ongoing and further assay results pending, Strickland Metals is poised to refine its understanding of the Gradina Deposit’s scale and grade distribution. The upcoming maiden MRE will be a pivotal event, likely to attract increased market attention and potentially catalyse further investment interest. As the company continues to explore and define its ~7.4 million ounce gold equivalent Rogozna Project, the Gradina results represent a compelling chapter in its growth story.