Strickland Metals Ltd (ASX:STK) has discovered a new high-grade gold lode named Wanamaker within its flagship Millrose Gold Project on the Yandal Greenstone Belt of Western Australia.
The company’s diamond drilling program intersected a continuation of the high-grade, north-plunging primary gold mineralisation including 7.9 metres at 7 g/t gold from 138.9 metres.
Notably, the intersection is 40 metres downdip from the initial discovery hole, which delivered 8 metres at 4 g/t gold from 104 metres.
This result complements the recently intersected oxide mineralisation, which extended mineralisation 350 metres north of the current mineral resource.
What’s more, further drilling is being planned, designed to intersect northerly extensions of the primary Wanamaker mineralisation, as well as up-dip extensions of further shallow oxide mineralisation.
“Positive development for Wanamaker”
Strickland CEO Andrew Bray said: “Confirmation of a new, high-grade lode to the north of the main Millrose mineral resource is a very exciting step forward for the company.
“Continuity of width across the holes to date, with apparent increase in grade at depth, is a very positive development for Wanamaker.
“The lode is approximately 250 metres north of the main mineral resource.
"Geophysics data mapping the BIF unit (the key marker horizon for the gold mineralisation) suggests mineralisation will extend further northward.
“Drilling is currently being designed to target both further fresh rock mineralisation along strike, as well as additional shallow oxide mineralisation."
Goals at Millrose
At the commencement of the 2022 drilling campaign at Millrose, Strickland set out four clear goals:
- increase confidence in the existing Millrose mineral resource;
- make further discoveries along strike from known mineralisation;
- extend mineralisation at depth; and
- target further shallow oxide mineralisation.
“When drilling commenced nearly seven months ago, we set out with four clear goals: increase confidence in the existing Millrose resource; make further discoveries along strike from the known mineralisation; extend mineralisation at depth and target further shallow oxide mineralisation.
“On all four counts, Strickland has met (or exceeded) expectations.
“The results of this work (and ongoing drilling) will feed into an updated mineral resource next year.”