Strickland Metals Ltd (ASX:STK) has revealed a ‘spectacular’ 308.4-metre intersection in the second diamond drill hole at the 4.6-million-ounce gold equivalent Shanac deposit, part of the Rogozna Gold and Base Metals Project in Serbia.
The drill hole, ZRSD24149, yielded 308.4 metres grading 1.9 g/t gold equivalent (Au Eq), including internal waste, from a depth of 299.4 metres.
Higher-grade zones
The intersection includes several zones of higher-grade mineralisation, notably 90.9 metres at 2.3 g/t Au Eq from 333.7 metres and a further 61.3 metres at 3.5 g/t Au Eq from 470.9 metres.
These results further reinforce the geological model, which indicates the potential for extensive higher-grade mineralisation within the Central Domain of the deposit.
Hole ZRSD24149 underscores Strickland’s ongoing strategy to target these higher-grade zones, particularly within the copper-gold-magnetite skarn system.
The drilling campaign continues, with six rigs active across the Rogozna project in Serbia and the Yandal project in Western Australia. Additional assay results are expected shortly.
"Further support strategy"
“These latest results from ongoing drilling at the 4.6-million-ounce Au Eq Shanac deposit provide further support of our strategy to target the higher-grade mineralisation zones within the Central Domain of the deposit,” Strickland managing director Paul L’Herpiniere said.
“This hole was drilled ~100 metres along strike to the southeast of ZRSD24149 and was targeting the body of copper-gold-magnetite skarn that was also encountered in the earlier hole.
"Excellent consistency"
“With a 90.9-metre intercept of copper-gold mineralisation grading 1.4 g/t gold and 0.3% copper from 333.7 metres downhole, the copper-gold-magnetite skarn is demonstrating excellent consistency of grade and thickness at the southern end of the deposit.
“Of further significance in this hole was a thick zone of high-grade epithermal gold-zinc-lead-silver mineralisation intercepted at a downhole depth of 482.9 metres.
“This mineralisation is hosted within hydrothermal breccia, occurring adjacent to the mineralisation-controlling central dyke at depth.
“We are also excited to report that we have commenced drilling a follow-up hole to ZRSD24149, specifically targeting an extension to the newly identified ‘gold skarn’ which returned the spectacular intercept of 89.4 metres at 4.0 g/t gold from 244.5 metres downhole depth, within a broader mineralised envelope of 293.9 metres at 2.5 g/t Au Eq from 162.3 metres depth.
“We look forward to updating the market with further results as they come to hand.”
Strickland Metals remains well-funded, with A$48.7 million in cash and Northern Star Resources (ASX:NST) shares as of the end of June 2024, positioning the company favourably for continued exploration and development activities.