Strickland uncovers additional wide high-grade gold in Serbian push

Strickland Metals has landed another pair of cracking drill hits, with two deep diamond holes cutting through hundreds of metres of strong gold-copper mineralisation at its 5.3 million ounce gold-equivalent Shanac deposit in Serbia.

The latest hits at Shanac - one of four deposits at the company’s 7.4-million-ounce gold-equivalent Rogozna project - throw even more fuel on a story the company says is rapidly outgrowing early expectations.

A diamond drill rig in action at Strickland Metals’ Shanac deposit, part of the company’s broader Rogozna gold and base metals project in Serbia.

Standout hits from the first hole included a punchy 48.7 metres grading 3.1 grams per tonne (g/t) within a huge 224-metre intersection grading 1.9g/t gold equivalent from 387.5m. That same hole then doubled down with another 113.9 metres going at 1.8g/t gold equivalent from 497.7 metres, highlighted by a 36-metre internal grading 2.5g/t gold equivalent and a 12-metre sweet spot going at 3.8g/t gold equivalent.

The equally impressive neighbouring hole kept the momentum flowing, kicking off with 62.1 metres grading 1g/t before lighting up with 173.7 metres going at 1.8g/t gold equivalent from 462.9 metres. Within that wider section the drill bit picked up a higher grade zone of 42.1 metres running at 2.9g/t gold equivalent, capped by an exceptionally rich 1.9-metre slice grading 16.5g/t gold equivalent.

‘These excellent new drill results reinforce the quality of high-grade copper-gold at Shanac.’

The new holes were plunged straight into the middle of Shanac’s central deposit, right where earlier drilling had sniffed out strong signs of a higher-grade copper-gold zone in the skarn units that sit parallel to the quartz monzonite dykes.

Notably, Strickland says mineralisation is still open in every direction. The high-grade copper-gold zone first flagged in August - where drilling uncorked 21.6m at 3.7g/t gold equivalent from 473.5m, including a ripping 5.7m at 9.7g/t - is now shaping up as far larger than all the early indications suggested. Better still, the zone is proving more consistent with every metre drilled.

Geologically, the story is beginning to firm up. Near the top of the holes, Shanac shows the classic skarn mix of gold, lead and zinc, with green garnet rock cut by sulphide veins.

As drilling gets deeper, the system shifts into a more copper-rich zone, marked by magnetite and thick bands of chalcopyrite and pyrite that host the stronger grades. That two-part pattern is a hallmark of long-running, high-quality skarn deposits around the world.

Strickland Metals managing director Paul L’Herpiniere said: “These excellent new drill results reinforce the robustness and quality of the high-grade copper-gold mineralisation discovered at Shanac earlier this year in the central part of the deposit.”

According to management, the latest hits sharpen the case for a hybrid mining setup, blending wide bulk-tonnage gold zones with tighter, high-grade shoots - a combination that gives Shanac far more flexibility in how it could ultimately be mined.

In total seven rigs are ripping through metres across Rogozna, with three of them tightening up the gap zone at the nearby Gradina deposit as Strickland barrels its way toward a maiden resource before year’s end.

And with another batch of assays already in the lab, the company is gearing up for a steady flow of news as it drives toward a broader Rogozna resource upgrade expected early in the new year.

With $41.8 million in cash and liquids at the end of September, the runway is long and well-funded.

Shanac, as Stickland’s largest deposit at Rogozna, is already a powerful skarn system with real scale behind it. However, these latest results suggest it may still just be stretching its legs with plenty more to offer.

The big question now is just how large Strickland can make this play before the resource upgrade lands.

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