Strickland Metals Ltd (ASX:STK) has set the diamond drill turning at the Yandal Gold Project in Western Australia, following up its recent major acquisition of a 5.4-million-ounce gold project in Serbia with more work on its Australian projects.
Read: Strickland Metals acquires 5.4-million-ounce Rogozna Gold Project in Serbia
The rig has started drilling at Palomino-Clydesdale prospect, where aircore drilling produced an intersection of 39 metres at 6.1 g/t gold from 25 metres of depth that included a 7-metre interval of 22.2 g/t.
It will then move to Brono-Konik prospect, where a discovery hole revealed 58 metres at 1.7 g/t gold from 17 metres to the end of hole, mirroring historical results from the area.
Planning “significant” follow up drilling
“After our significant acquisition announcement yesterday, we are pleased to announce that our Yandal programs are continuing as originally planned,” Strickland Metals chair Anthony McClure said.
“A reverse circulation (RC) rig arrived on site last week and has completed a number of diamond pre-collars.
“The diamond rig has just arrived and commenced drilling diamond tails on the RC pre-collars. Both rigs will remain on site well into the second half of this year, with significant follow-up drilling to occur dependent on results.
“The mineralisation at Palomino-Clydesdale offers excellent potential for down-dip and down-plunge extensions to the known mineralisation.
The diamond rig will subsequently move to Brono-Konik, where drilling last year highlighted the potential for substantial bulk-tonnage mineralisation.
“The initial Konik discovery hole has subsequently been linked up to historic drilling at the Bronco prospect, where historical results included 79 metres at 1.0g/t Au from 10 metres and 95 metres at 0.7g/t Au.
“Until now, these results have not been included in a coherent mineralisation model.”
RC drilling at Great Western
“A number of other targets are scheduled for follow-up RC drilling, including Warmblood-Filly South and Marwari,” McClure continued.
“Additionally, a number of RC lines are planned for follow-up drilling at Great Western, where the company intersected significant intrusive related geochemical signatures in drilling last year.
“Strickland has also lodged an Exploration Incentive Scheme (EIS) co-funded drilling submission for a number of deeper diamond holes at Great Western.
“Successful applicants from this round of co-funded drilling are due to be notified by the end of this month. Further updates will be provided in due course.”
Strickland says it is well-funded to pursue development of its projects both at home and abroad, with the equivalent of $54 million in cash and Northern Star Resources (ASX:NST) shares in the company war chest at the end of the December quarter.