New Discovery at Rogozna Raises Questions on Resource Expansion and Market Impact
Strickland Metals has announced a significant new gold and base metals discovery at its Rogozna Project in Serbia, expanding the potential of its already substantial mineral resources. The discovery at Red Creek lies just 1km from the major Shanac Deposit, promising further growth opportunities.
- New high-grade gold-copper mineralisation discovered at Red Creek Prospect
- Significant drill intercepts include 53m at 2.3g/t AuEq from 514m depth
- Discovery located 1km west of 5.3Moz AuEq Shanac Deposit
- Mineralisation remains open with extensive untested strike potential
- Updated Shanac Mineral Resource Estimate expected in March quarter
Discovery Highlights
Strickland Metals Limited (ASX, STK) has revealed a major new discovery of high-grade gold and base metals mineralisation at the Red Creek Prospect, part of its Rogozna Project in Serbia. This new mineralised zone lies approximately 1 kilometre west of the company’s flagship Shanac Deposit, which already boasts a substantial resource of 5.3 million ounces gold equivalent (AuEq).
The discovery was made through diamond drilling, with the standout hole ZRSD25233 returning impressive intercepts including 53 metres at 2.3 grams per tonne AuEq starting from 514 metres depth. Within this interval, higher-grade zones were identified, such as 35 metres at 3.1g/t AuEq and a remarkable 4.4 metres at 8.9g/t AuEq. These grades reflect a combination of gold, copper, lead, zinc, and silver mineralisation, highlighting the polymetallic nature of the deposit.
Geological Context and Exploration Potential
The Red Creek mineralisation occurs within a large-scale magmatic hydrothermal system characterised by skarn and epithermal styles. The shallow epithermal gold mineralisation starts from just 44 metres downhole, while the deeper skarn-hosted mineralisation extends well beyond 700 metres. This geological setting is consistent with other deposits within the Rogozna Project, which collectively hold an inferred resource of around 8.6 million ounces AuEq.
Importantly, the mineralisation at Red Creek remains open along strike and at depth, with approximately 1.5 kilometres of untested strike potential between Red Creek and the Copper Canyon Deposit to the southeast, and about 1 kilometre of open space laterally towards Shanac. This opens a significant new exploration corridor that could materially increase the project’s resource base.
Strategic Implications and Next Steps
Strickland’s Managing Director, Paul L’Herpiniere, emphasised the significance of this discovery, noting it as the second major find since acquiring Rogozna in mid-2024. The proximity of Red Creek to existing deposits enhances the project’s development optionality, providing multiple avenues for resource growth and potential future mining operations.
The company plans to accelerate drilling at Red Creek to better define the extent and continuity of mineralisation, aiming to advance the prospect towards resource status. Assay results from additional drill holes across the Rogozna Project are pending, with further updates expected in the coming weeks. An updated Mineral Resource Estimate for the Shanac Deposit is also scheduled for release in the March quarter, which could further refine the project’s valuation.
Overall, this discovery reinforces Rogozna’s position as a highly prospective and strategically important asset within Strickland Metals’ portfolio, underpinning its ambitions in the gold and base metals sector.
Bottom Line?
Red Creek’s discovery could be a game-changer for Rogozna, but the market will watch closely for follow-up drilling and resource updates.
Questions in the middle?
- How extensive and continuous is the mineralisation between Red Creek and Shanac?
- What impact will the upcoming Shanac resource update have on the overall project valuation?
- How will commodity price fluctuations affect the economic viability of the new discovery?
