Strickland Metals has laid out an ambitious 2026 drilling program at its Rogozna Project in Serbia, targeting resource expansion and Pre-Feasibility Study support, despite delays in government approvals for its Shanac license.
- 2026 drilling plans focus on infill and extension at key deposits
- Drilling delayed at Shanac pending Ministry of Mines approval
- Preparations underway at Obradov Potok and Jezerska Reka prospects
- Red Creek copper-gold discovery offers significant exploration upside
- Company holds $81 million in cash and liquid assets
Drilling Plans Set but Shanac Approval Delays Stall Start
Strickland Metals (ASX:STK) has finalised its drilling program for the 2026 field season at the Rogozna Gold and Base Metals Project in Serbia, aiming to accelerate resource growth and underpin its Pre-Feasibility Study (PFS) targeted for mid-2027. However, the start of drilling at the main Shanac license, which hosts the project's largest deposits including Gradina, Shanac, and Copper Canyon, faces an unexpected hold-up as the company awaits final approval from Serbia's Ministry of Mines and Energy. This delay interrupts the momentum following last year’s strong drilling results and resource upgrades.
Meanwhile, Strickland is advancing preparatory works at the Obradov Potok and Jezerska Reka prospects, where drilling can proceed under existing permits. These sites offer potential for near-term discoveries and complement the broader exploration strategy focused on high-value resource expansion and discovery drilling. The company remains well-capitalised with $81 million in cash and liquid investments, enabling it to maintain operational flexibility amid regulatory delays.
Targeted Infill and Extension Drilling to Support PFS
The 2026 program prioritises infill and extension drilling at Gradina, Shanac, and Copper Canyon deposits to convert and grow resources in preparation for the PFS. At Gradina, drilling will focus on the “gap zone” between northern and southern resource envelopes, along strike to the northwest and southeast, and at depth; areas previously highlighted for significant mineralisation potential. This follows encouraging intercepts reported earlier this year that underscored the deposit’s upside potential.
Infill drilling at Shanac aims to build on the maiden indicated resource of 1.25 million ounces gold equivalent (AuEq) announced in April, which sits within a total 5.35Moz AuEq resource. The focus will be on extending the high-grade central zone beyond the current model, with the deposit remaining open to the north. Copper Canyon infill drilling is also planned to enhance confidence in that resource area.
Red Creek Discovery Emerges as Key Exploration Focus
A standout feature of the upcoming season is the Red Creek copper-gold discovery announced in February 2026, located approximately 1km west of Shanac and 1.5km northwest of Copper Canyon. This new prospect offers untested strike and lateral potential, with about 1km of untested ground between Red Creek and Shanac. The company plans follow-up drilling here to evaluate the extent of mineralisation and its potential contribution to the project’s resource base.
Complementing drilling efforts, Strickland is poised to commence a Magnetotelluric (MT) geophysical survey on the Zlatni Kamen license. This survey is designed to identify additional blind porphyry-related targets within the central project area by integrating with a newly interpreted structural framework. Such geophysical work aims to unlock further exploration upside beyond known deposits.
Ongoing Field Activities and Environmental Commitments
Despite the drilling delay at Shanac, Strickland’s Serbian team continues with extensive field-based work including environmental rehabilitation, community engagement, hydrogeological and baseline environmental studies, and geological mapping. These activities ensure compliance and support the sustainable development of the project.
Scoping study workflows are progressing well, with updates to the Gradina and Copper Canyon resource models and finalisation of metallurgical testwork programs at Gradina. These steps are critical for refining the PFS and advancing the project towards development decisions.
Strickland’s strategy to balance regulatory compliance with exploration advancement reflects a measured approach to unlocking the full potential of its 8.6 million ounce AuEq Rogozna resource. The company’s confidence in the project’s upside is underpinned by recent resource upgrades and the strong funding position, which follows a significant $55 million placement in early 2026 to accelerate drilling and study work. The placement supported a 70,000m drilling program and was backed by major shareholders including Ibaera and Zijin Mining Group, reinforcing institutional confidence in the project’s prospects.
As the company awaits clarity on the Shanac drilling approval timeline, investors will be watching how quickly Strickland can resume its full drilling campaign and whether the Red Creek discovery can add meaningful scale to the resource base. The combination of ongoing field programs, geophysical surveys, and targeted drilling positions Rogozna as a dynamic exploration story in the gold and base metals sector.
With the company’s recent resource milestones at Shanac now public, including the maiden 1.25Moz indicated resource, and promising drill results at Obradov Potok, which confirmed significant base metal mineralisation, the 2026 season is shaping up as pivotal for Strickland’s growth ambitions. The company’s ability to navigate regulatory hurdles while maintaining exploration momentum will be a key factor in unlocking value from this sizeable Serbian asset.
Bottom Line?
Strickland’s well-funded 2026 drilling plans at Rogozna face timing uncertainty due to Shanac approval delays, making regulatory progress a critical watchpoint.
Questions in the middle?
- When will final drilling approvals for the Shanac license be granted?
- How extensive is the mineralisation potential in the Red Creek to Shanac gap zone?
- What impact will the upcoming Magnetotelluric survey have on identifying new porphyry targets?