🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Strickland Metals delivers another "exceptional" thick high-grade intercept at Rogozna

Published 31/10/2024, 10:15 am
© Reuters.  Strickland Metals delivers another "exceptional" thick high-grade intercept at Rogozna
NST
-
AS2
-

Strickland Metals Ltd (ASX:STK) has continued a run of success from resource extension and exploration drilling at its 100%-owned Rogozna Gold and Base Metals Project in Serbia, returning an “exceptional” thick, high-grade intercept of 43.4 metres at 4.6 g/t gold equivalent within 223 metres at 1.7 g/t gold equivalent.

Highlighting the potential for rapid resource growth at the 5.4-million-ounce gold equivalent Rogozna Project, drilling at the emerging Medenovac Prospect has demonstrated continuity of mineralisation and extended high-grade gold and associated base metals.

Medenovac Prospect

The Medenovac Prospect is one of four skarn-hosted gold and base metals deposits within the Rogozna Project.

Strickland managing director Paul L’Herpiniere said: “It’s exciting to receive further exceptional high-grade results from ongoing drilling at the Medenovac Prospect, where thick, high-grade mineralisation has now been delineated over a strike length of ~150 metres towards the southern end of the current 600-metre mineralisation footprint.

“This deposit is displaying some exceptional characteristics, with the thickness, geometry and tenor of the higher-grade zones of mineralisation resembling some of the great mines in the region, including the proximal Trepca mines and Adriatic Metals’ Vares mine in Bosnia.

“Importantly, with these latest results, we now have sufficient drill data, including 36 drill holes amounting to >18,000 metres, to undertake a maiden mineral resource estimate for Medenovac, which we aim to deliver in early 2025.”

Extensive zone of high-grade gold

An extensive zone of high-grade gold and associated base metal mineralisation was intersected in diamond hole ZRSD24159, which was drilled towards the southern end of the Medenovac Prospect — the third-best hole drilled at the prospect.

Results include 223 metres at 1.7 g/t gold equivalent from 179.6 metres, including 43.4 metres at 4.6 g/t gold equivalent from 357.2 metres, and in turn including 19.7 metres at 6.8 g/t gold equivalent from 376.9 metres.

The drill hole confirmed continuity on the ZRSD24157-ZRSD24159 drill section, which is southeast from the discovery section, where historical drill hole ZRSD21136 intersected 97.7 metres at 5.1 g/t gold equivalent within a broader zone of 352.1 metres at 2.1 g/t gold equivalent from 240.2 metres.

Medenovac Prospect cross-section view showing drill holes ZRSD24157 and ZRSD24159.

Strickland notes that drilling continues with four rigs operating across the Rogozna Project and assay results pending for multiple holes.

The company remains well-funded with $41.07 million in cash and Northern Star Resources (ASX:NST) shares as at the end of the September quarter.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.