Consistent gold hits firm up Strickland Serbian prospect model

Strickland Metals’ Rogozna project in Serbia has continued its stellar gold runs with diamond drill results from the company’s Gradina prospect including 34.4 metres at 2.6 grams per tonne (g/t) from 329.5m. The hit included 14.5m at 4.4g/t from 332.1m and 4m at 4g/t from 359.9m.

A second hole revealed 13.1m assaying 1.7g/t gold from 462.6m, including 7.4m going 2.5g/t gold from 466m.

Diamond core from 343.1m depth at Strickland Metals’ latest headline hole in the Gradina prospect shows strong pyrrhotite alteration and assayed 7.7g/t gold.

A third hole delivered 23.2m running 0.8g/t gold from 286m, which included 2m at 3.2g/t gold from 288m and a separate 2.9m going 2.9g/t gold from 361.8m.

Strickland says the Gradina mineralisation remains open in all directions including up and down-dip. It is reflected at surface by strong geochemical responses in soil samples, while down-dip intercepts appear to thicken with increasing depth.

While some intercepts appear to show some thickness variation, not unusual in higher-grade zones, the latest results portray a generally consistent geometry of the mineralised zone.

‘This latest batch of results from Gradina continues to demonstrate the continuity of the gold-dominant system towards the northern end of the deposit.’

Gold mineralisation in the headline intercept is hosted by a silicified brown-garnet skarn and is associated with strong pyrrhotite alteration and lesser amounts of pyrite, galena and sphalerite.

The recent results are from several recently completed diamond drill holes put into the northern end of the company’s Gradina deposit, about 1.6 kilometres south of its flagship 5.3-million-ounce gold equivalent Shanac deposit. Strickland has also intercepted multiple zones of skarn-hosted gold mineralisation at Shanac.

Strickland is running a 50,000m diamond drilling campaign this year at its 7.4-million-ounce gold equivalent Rogozna project in southern Serbia.

Strickland Metals managing director Paul L’Herpiniere said: “This latest batch of results from Gradina continues to demonstrate the continuity of the gold-dominant system towards the northern end of the deposit. Importantly, the spatial distribution of these intercepts confirms our current geological model, indicating that the geometry of the mineralisation zone is consistent.”

Eight rigs are operating at Rogozna. Five rigs were recently busy at Gradina to support the delivery of a maiden mineral resource estimate later in the year, while two rigs are focused on exploration drilling at the company’s other prospects.

Having wound up its current phase of drilling in Gradina’s north, Strickland has relocated the five rigs further south to test for up-dip extensions at the prospect and infill the hole pattern in higher-grade zones to improve confidence levels for its imminent mineral resource estimate.

Strickland remains extremely well-funded, with $34.8 million in cash and liquid assets in the March quarter and a further $5 million strategic investment by Zijin Mining following the end of the quarter.

The company expects to release more analytical results for holes put into Gradina, Shanac and Kotlovi in the coming weeks – meaning more good news is potentially on the horizon.

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