Strickland Metals Ltd (ASX:STK) has returned high-grade gold intersections described as “spectacular” from reverse circulation (RC) drilling at the Marwari Discovery within the Yandal Gold Project in Western Australia.
Standout assays include:
- 24 metres at 7.4 g/t gold from 19 metres, including 5 metres at 28 g/t from 29 metres; and
- 3 metres at 8.9 g/t from 71 metres;
Based on the RC results, the target zone of mineralisation appears to be striking NE-SW with a southerly plunge, meaning that three diamond holes also drilled were too far east to intersect the targeted mineralised structure in fresh rock, and also with an oblique orientation.
Meanwhile, diamond drilling at depth repeatedly intersected very large zones of intense alteration, as typically seen at the outer edges of similarly large gold systems.
The remaining diamond and RC holes are expected in mid to late January 2024, and the company is eagerly awaiting further assays to assist with the refinement of the mineralisation model.
Strickland remains well-funded after completing its sale of the Millrose gold deposit to Northern Star Resources (ASX:NST) in July 2023 for about $61 million.
“Spectacular intersection”
Strickland Metals CEO Andrew Bray said: “Our initial 19-hole program at Marwari, of which assays have been received for approximately half of the samples, has returned a spectacular intersection in MWRC003 of 24 metres at 7.4 g/t gold from 19 metres, including 5 metres at 28 g/t from 29 metres.
“This hole is 50 metres northeast of the discovery hole (HWAC1472 - 31 metres at 5.6 g/t gold).
“This is strongly suggestive of a NE-SW strike to the mineralisation, with a southerly plunge.
“Assays from the first three diamond holes have also been returned.
“Due to the apparent oblique strike in mineralisation, all three holes were drilled too far east to have intersected the high-grade mineralisation observed in HWAC1472 and MWRC003 in fresh rock.
“Going forward, holes will also be drilled at 310 degrees.”
Drill summary
A total of six diamond holes across 1,684 metres and 13 RC holes across 2,640 metres were drilled as part of an initial 19-hole program at Marwari.
Assays from the first three diamond holes and four RC holes have been returned.
In addition to these results, the drilling successfully mapped the strong alteration (hematite, carbonate, chlorite, sericite alteration), shearing, veining and sulphides.
Bray adds: “While the company was hopeful of intersecting the Marwari lode again at depth in these initial diamond holes, what the holes do confirm is that we are indeed dealing with a very large and structurally complex system.
“This is evidenced by the extremely intense alteration, veining and complexity seen in the core, as well as the fact that the system has also been intersected over a distance of 1.1 kilometres.
“The balance of RC holes and four diamond holes remain outstanding, along with the two initial RC holes drilled at Chetak.”
Marwari Topographic Section showing the recently drilled RC/DDH collars in relation to the sigmoidal high-grade gold lenses intersected to date. Magnetic TMI 1VD image underlay.
Other drilling
The first line of drilling at Great Western has been completed, with seven RC holes drilled east-west across the magnetic anomaly on 100-metre spacings.
Five of the holes intersected significant veining with sulphides, while also showing similar geochemical anomalism to that observed historically at the surface.
The first diamond hole at Rabbit Well has also been concluded.
Drilling intersected a large alteration system (silica, hematite and marcasite) indicative of MVT-style mineralisation.
The core is being processed on-site and is expected to be dispatched to the laboratory before the end of the year.
Bray adds: “Separately, the first line of drilling at Great Western has been completed and samples will be dispatched to the laboratory this week.
“Significant veining with sulphides has been confirmed in fresh rock (accompanied by similarly strong geochemical anomalism to that previously observed at the surface) by this initial phase of drilling. Priority assaying has been requested for these samples, however the company is unable to provide any accurate guidance as to when they will be received.
“The first Rabbit Well diamond hole has also been completed and has confirmed the presence of a large alteration system (silica, hematite and marcasite) indicative of MVT-style mineralisation.”
Forward plan
The balance of the RC and diamond assays from Marwari are expected to be received in the second half of January 2024.
It is anticipated these assays will provide further critical data on the orientation of the mineralisation at Marwari, and also the potential for a repeat of the system at Chetak.
These results will feed into planning for the major programs to commence in March 2024.
Marwari Prospect Cross Section 7,130,500mN, highlighting the intense zone of shearing + alteration in relation to the high grade intercept from HWAC1472.
A further announcement will be made in the coming days regarding additional aircore results received from a prospect area to the southwest of Marwari.
Bray adds: “Given Christmas break closures and anticipated further delays, the company expects to receive these assays in the second half of January 2024.
“We are eagerly awaiting additional data points from these assays to assist with the refinement of the mineralisation model.
“The core is currently being processed on-site. Drilling at site will be wrapping up in the coming days in preparation for a short Christmas break
“An RC rig is booked to return in the first week of January for approximately three weeks before operations cease for the wet season.
“Planning for significant 2024 drilling programs is now underway, with rigs then expected to return to site for the primary 2024 program in mid-March.
“An announcement will be made in the new year regarding these plans. The company will make a further announcement in the coming days with respect to additional aircore results received from a prospect area to the southwest of the Marwari trend.
“A large number of aircore results from other areas also remain outstanding which, if received, will be released progressively over the next six weeks.”