Resource Expansion at Gradina Raises Questions on Project Scale and Market Impact

Expanding the Gradina Gold Resource

Strickland Metals Limited (ASX – STK) has delivered an encouraging update from its Rogozna Gold and Base Metals Project in Serbia, with new assay results from diamond drilling at the Gradina Deposit confirming robust gold mineralisation beyond the previously defined 1.2 million ounce resource. The latest drilling focused on the so-called 'Gap Zone', a key area between the northern and southern extents of the deposit, where multiple significant intercepts have been recorded.

These results include impressive intercepts such as 68.7 metres at 1.7 grams per tonne gold from 368.2 metres depth, and 84.4 metres at 1.5 grams per tonne gold from 499.6 metres, with higher-grade zones embedded within these intervals. The presence of base metals like copper, lead, zinc, and silver alongside gold further underscores the deposit's polymetallic potential.

Geological Context and Mineralisation Style

The Gradina Deposit is part of a larger skarn-hosted mineral system within the Rogozna Project, which collectively holds an estimated 8.6 million ounces of gold equivalent. The mineralisation is associated with retrograde skarn alteration adjacent to quartz-latitic intrusions, a geological setting favourable for both gold and base metals. Drilling has revealed that mineralisation remains open in all directions, including up-dip towards surface, suggesting that the current resource estimate could be expanded significantly with further exploration.

Core samples show consistent mineralisation styles, with green garnet skarn hosting gold-dominant zones and elevated base metal concentrations near quartz-diorite dykes. The geometry of the mineralisation varies with depth, from sub-vertical at depth to steep to moderate dips closer to surface, which will inform ongoing resource modelling and mine planning.

Strategic Importance and Next Steps

Gradina has emerged as a strategic asset within Strickland’s development plans for Rogozna, particularly given its gold-dominant nature which is expected to play a pivotal role in the early years of any future mining operation. Managing Director Paul L’Herpiniere emphasised the clear pathway to resource growth, highlighting the importance of the 'Gap Zone' results and the potential for extensions on the south-eastern flank of the deposit.

Looking ahead, Strickland is advancing its interpretation of the 2025 drilling program results and preparing for an extensive 2026 drilling campaign commencing in March. This program aims to infill and extend mineralisation, with assays pending for several holes across the project. The company is poised to provide further updates as new data becomes available, keeping investors closely informed of progress.

These developments come against a backdrop of robust metallurgical test work indicating amenability to conventional processing methods, and a supportive geological framework that bodes well for future resource upgrades and project advancement.