Gradina Deposit Drilling Yields 60.8m at 1.9g/t Gold, Expanding Resource Potential

Expanding a 1.2 Million Ounce Gold Resource

Strickland Metals Limited (ASX, STK) has delivered encouraging results from its late-2025 diamond drilling campaign at the Gradina Deposit, part of the broader Rogozna Gold and Base Metals Project in Serbia. The Gradina Deposit currently hosts an estimated 1.2 million ounces of gold, and recent drilling has intersected strong gold mineralisation in the so-called Gap Zone, a key area between the northern and southern parts of the deposit.

Highlights include a standout intercept of 60.8 metres grading 1.9 grams per tonne gold from 798 metres depth, with higher-grade zones within this interval reaching up to 4.4 grams per tonne. These results reinforce the potential to grow the existing resource, as mineralisation remains open in all directions, including up-dip towards surface.

Geological Significance of the Gap Zone

The Gap Zone has emerged as a critical target for resource expansion. The recent assays confirm that this area hosts significant skarn-hosted gold mineralisation, often accompanied by base metals such as zinc, copper, and lead. The continuity of mineralisation between Gradina North and South suggests the possibility of unifying these zones into a larger, cohesive deposit.

Strickland’s Managing Director, Paul L’Herpiniere, emphasised the importance of these findings, noting that the results provide a solid foundation for the next drilling phase scheduled to recommence in March 2026. This drilling will aim to further delineate the mineralised zones and support an updated Mineral Resource Estimate for the Shanac Deposit, another cornerstone asset within the Rogozna Project, expected in late March.

Strong Financial Position Supports Aggressive Exploration

Backing these exploration efforts is Strickland’s robust financial position. As of 31 December 2025, the company held $38.2 million in cash and liquid assets, supplemented by a recent heavily supported institutional placement raising an additional $55 million. This capital provides ample runway for the planned drilling campaigns and resource development activities across the Rogozna Project.

The Rogozna Project itself is a significant gold and base metals asset, with a combined resource estimate of approximately 8.6 million ounces gold equivalent across multiple deposits including Gradina, Shanac, Medenovac, and Copper Canyon. The project’s geological setting within Serbia’s mineral-rich Vardar Zone West Belt offers promising exploration upside, with skarn-hosted mineralisation styles that have demonstrated consistent grades and widths.

Looking Ahead

Strickland’s upcoming drilling campaign and the anticipated updated resource estimate for Shanac represent important catalysts for the company and its investors. The confirmation of mineralisation continuity in the Gap Zone at Gradina could materially enhance the project’s scale and economics. However, as with all exploration projects, uncertainties remain around the true extent and grade continuity until further drilling and modelling are completed.

Investors will be watching closely as Strickland advances its exploration program through 2026, with the potential to unlock further value from one of Serbia’s most promising gold and base metals projects.