Strickland Metals Reports Up to 198m at 1.2g/t AuEq at Shanac Deposit

Robust Drilling Results at Shanac

Strickland Metals Limited (ASX, STK) has released encouraging assay results from its ongoing diamond drilling program at the Shanac Deposit, a cornerstone of its Rogozna Gold and Base Metals Project in Serbia. The latest data confirm significant up-dip extensions of previously reported high-grade gold intercepts, including a notable 89.7 metres at 4.0 grams per tonne gold equivalent (AuEq) from last year.

The new drilling has revealed multiple thick zones of gold-dominant mineralisation closer to surface, a strategic development that could enable early extraction of high-grade ore in the mine’s initial phases. These results reinforce Shanac’s status as a key asset within the approximately 7.4 million ounce AuEq Rogozna Project.

Significant Intercepts Highlight Scale and Grade

Among the standout intercepts reported are 197.9 metres at 1.2 g/t AuEq from 182.1 metres depth, including 29 metres at 2.0 g/t AuEq, and 133.8 metres at 1.5 g/t gold from 270.8 metres. These wide zones of mineralisation, hosted in andesite breccia and skarn formations, demonstrate both the scale and quality of the deposit. The mineralisation remains open in multiple directions, suggesting further potential for resource growth.

Strickland’s Managing Director, Paul L’Herpiniere, emphasised the importance of these results, noting that the expansion of near-surface high-grade zones is "strategically important in terms of the development sequencing of the project." He highlighted the ongoing multi-rig drilling campaign as a driver of continuous discovery and resource enhancement.

Project Momentum and Financial Strength

The company currently operates seven drilling rigs across the Rogozna Project, with one rig focused on Shanac’s eastern side to target further high-grade zones. This intensive exploration effort is part of a broader 50,000-metre drilling program planned for 2025, underscoring Strickland’s commitment to advancing the project.

Financially, Strickland remains well-positioned with $52.4 million in cash and liquid assets as of 30 June 2025, providing ample runway to support ongoing exploration and development activities. The project’s robust resource base, combined with strong metal prices, positions Strickland to capitalise on the Rogozna Project’s considerable potential.

Geological Context and Next Steps

Geologically, the Rogozna Project lies within a complex magmatic hydrothermal system characterized by skarn-hosted gold, copper, zinc, silver, and lead mineralisation. The Shanac Deposit’s mineralisation is associated with andesite and skarn contacts, with ongoing drilling confirming the continuity and openness of high-grade zones.

Looking ahead, Strickland plans further infill and extensional drilling to upgrade the Mineral Resource Estimate and refine the project’s development pathway. The company’s methodical approach and strong financial footing suggest that Rogozna’s value will continue to unfold in the coming months.