Leveraging a combination of drilling data and geophysical modelling, Strickland Metals Ltd (ASX:STK) has defined a large gold target at the Marwari discovery within the Horse Well prospect at Yandal Gold Project in Western Australia.
Additional aircore drilling results have now extended Marwari to more than 700 metres of prospective strike.
Gold mineralisation at Marwari is closely associated with magnetite within a strike of extensive banded iron formation (BIF) geology, with 3D magnetic modelling describing a south plunging magnetic anomaly target immediately beneath the current aircore drilling.
The main target is yet to be drill tested, requiring a deeper-reaching reverse circulation (RC) drill rig to access.
Substantial, concealed gold deposit
“After the company made the Marwari discovery in hole HWAC1427 (31 metres at 5.6 g/t gold), aircore fence lines were drilled to the north and south with the aim of mapping the mineralisation and geology,” Strickland Metals CEO Andrew Bray said.
“Separately, given the apparent close relationship between magnetite and the gold mineralisation, the company undertook magnetic inversion modelling to assist with target definition.
“The results of both efforts suggest we have clipped the outer edge of a substantial, concealed gold deposit, which is now eminently suitable for RC and diamond drilling.
“An RC rig is scheduled to arrive next week and the diamond rig will arrive the following week.”
Despite failing to penetrate the main body of the target, Bray emphasised that aircore drilling returned promising results of 60 metres at 0.5 g/t gold, 16 metres at 2.3 g/t gold and 8 metres at 2.2 g/t gold on a north-south axis.
Second look-a-like target
“The magnetic inversion modelling work also identified a second, look-a-like target immediately to the north, named Chetak, on the other side of a major north-northeast fault structure,” Bray continued.
“This target has not yet been tested as part of the current aircore program, however, it will be incorporated into the upcoming RC program. The combined strike length of these two targets is approximately 1.3 kilometres.
“Drilling at Marwari also intersected lateritic gold mineralisation at surface. The mineralised zone measures approximately 200 metres x 120 metres, with thickness between 4 metres to 8 metres.
“This is a promising shallow target that, in a development scenario, will de-risk development of the depletion zone down to the saprolite and transition ore.
“This laterite gold mineralisation is orders of magnitude larger than anything seen within the wider Horse Well area to date.
“Overall, Marwari continues to shape up as a very promising and significant gold discovery and the company is eagerly looking forward to drilling the main structure over the coming weeks.”
Strickland says it remains well funded to pursue its exploration goals, having recently completed the $61 million sale of the Millrose gold deposit to Northern Star Resources (ASX:NST).