Strickland Metals Ltd (ASX:STK) has large geophysics programs underway at the Rabbit Well and Iroquois prospects in the Earaheedy Basin in Western Australia ahead of follow-up diamond drilling next month.
The mineral exploration company hopes to repeat the discovery in May of multiple zinc-lead-silver intersections at its Earaheedy project, including a massive sulphide zone grading up to 27% zinc and 19.9 g/t silver at Iroquois.
The company contracted to carry out the 3D induced polarisation (IP) survey, Moombarriga Geoscience, has arrived on site and is expected to take three weeks to complete the work.
Compelling targets
“Both prospects represent extremely compelling base metal targets, having coincident geophysical and surface geochemical anomalies,” Strickland Metals chief executive officer Andrew Bray said.
“Both are also in an ideal geological setting for the style of base metal mineralisation being targeted.
“The survey results will feed into drill planning, with a diamond rig expected to arrive in October.”
Maps showing the planned 3D IP survey areas at Rabbit Well (top) and Iroquois (bottom).
Other work programs
The diamond drill program will also include the large-scale gold target at Great Western prospect within the company’s Yandal Gold Project in Western Australia and will take about six weeks to complete.
As well, the ongoing aircore program at the Horse Well Gold Project is on track, with initial assays expected to be released next week.
Drilling here will continue until November.
Financially strong
“The company remains extremely well capitalised after completing its sale of the Millrose gold project to Northern Star Resources (ASX:NST) in July 2023 for $61 million,” Bray said.
“Given the number of highly promising targets we’re drilling before the end of 2023, and our exceedingly strong balance sheet, shareholders potentially have a very exciting finish to the year coming up.”