Strickland Metals Ltd (ASX:STK) has a Native Title Heritage Survey underway at the Yandal Project focusing on the Wannamaker gold discovery at the Iroquois Prospect as well as other regional gold targets.
The survey will seek clearance for areas around Strickland’s exciting Wannamaker discovery, which will permit further resource definition drilling.
Initial discovery holes at Wannamaker returned 7 metres at 22.2 g/t gold from 72 metres, 7.9 metres at 7.0 g/t from 138.9 metres and 8 metres at 4.0 g/t from 104 metres.
Focus on obtaining clearances
Chief executive officer Andrew Bray said: “The Native Title Heritage Survey, originally planned to commence at the start of the month, is now underway.
"The survey will focus on obtaining further clearances around the company’s very exciting Wannamaker discovery, which will allow for further resource definition drilling."
Clearances will also be sought at the recently identified Baxters Prospect, as well as several other recently identified gold prospects along strike from the Millrose Gold Project.
Critically, with respect to Strickland's intention to spin out the Iroquois Zinc-Lead Project, clearance will also be sought around Iroquois, allowing for immediate drill testing of the entirety of the structure. Several proximal targets are also included in the survey.
"Clearances will also be sought around the Iroquois zinc-lead discovery in the Earaheedy Basin,” Bray said.
"Strickland has been previously constrained in drilling by very limited historical Native Title clearances, however upon completion of this survey it is expected the entirety of the main Iroquois structure will be ready for drill testing.
"The survey will also include some of the newly identified Iroquois regional zinc-lead prospects.”
Intention to spin out Iroquois
"Strickland recently announced its intention to spin out Iroquois and create a new base-metal focused, ASX-listed exploration company,” Bray said.
"Iroquois will be the flagship project of this new company and obtaining clearances to permit immediate drilling is a critical step in successfully executing the spin-out process.
"A number of other regional targets within the Yandal project will also be the subject of the current survey, including the Baxters Prospect and several recently identified gold prospects along strike from the Millrose Gold Project to the north.”
Strickland’s Yandal Project area in relation to the existing gold resources and the northern base metal Iroquois Project.
Yandal belt tenements
Strickland controls more than 100 kilometres of strike along the prodigious Yandal Greenstone Belt, the vast majority of which has not been explored.
Its tenements contain a total gold mineral resource of 11.7 million tonnes at 1.6 g/t gold for 603,000 ounces.
The flagship Millrose Gold Project lies about 30 kilometres due east of Northern Star's world-class Jundee gold operation.
Strickland is targeting a resource upgrade in Q1 of 2023, with substantial ongoing programs planned for 2023 designed to continue growing the project’s global gold mineral resource.
Demerger proposal
The most northern part of Strickland’s tenements cover part the Earaheedy Basin contact margin, where Strickland made the Iroquois zinc-lead discovery along strike from Rumble Resources Ltd (ASX:RTR)’s world-class zinc-lead Earaheedy project.
Strickland recently announced an intention to conduct a separate IPO of the Iroquois project, with the plan to create a separate, ASX-listed, base metal exploration company.
The IPO is planned to occur in Q1 of 2023 and the company has stated its intention to conduct a full in-specie distribution of the demerged company shares to its shareholders.