Strickland marches in sixth rig to target Serbian | Australian Markets

Strickland Metals has hit prime gear at its monster 7.4-million-ounce gold equal Rogozna project in Serbia by mobilising a sixth diamond rig to fuel what the company says is the largest drilling marketing campaign in the project’s historical past.

The recent rig is tough at work on the gold-rich Gradina deposit as half of the company’s effort to ship a maiden useful resource on the prospect by the tip of the yr.

The drill bit will smash out 20,000 new metres of diamond drilling with a explicit concentrate on chasing up a shallow, high-priority up-dip zone in direction of the floor.

With a comparable haul of drilling metres already racked up, the prospect has revealed a community of high-grade gold seams up to 30m thick, operating for more than a kilometre alongside strike and plunging almost 900m under floor.

An earlier drilling blitz intersected three separate lodes at website with standout outcomes together with an spectacular 2m part peaking as high as 17.6 grams per tonne (g/t) gold within a 14.3m hit grading 8g/t gold from 517m.

Other broad hits included 6m operating at 4.7g/t gold from 430.7m, a second 6m slice grading 5.7g/t gold from 554.1m and a third intercept of 12m of 3.6g/t gold from 441.1m.

Notably, Strickland additionally adopted one of the mineralised lodes 4 occasions up-dip from 603m in direction of floor. One hit got here in at 48.5m grading 3.1g/t gold from 150m.

In what management has known as some of essentially the most important findings on the prospect to date, the shallower high-grade lode seems to flatten out at 40 levels in direction of floor and half the angle of deeper hits.

The mineralisation additionally seems to be tracing its manner proper to floor alongside a ridge already flagged by soil sampling for its high gold anomalies.

Should the new drilling verify this working idea it might be a game-changer for the company’s development plans and lead to the tantalising prospect of opening up the deposit utilizing a low-cost and easy horizontal adit beginning to the west in decrease ground.

The deposit’s mineralisation is marked by intense pyrrhotite alteration, with splashes of pyrite, chalcopyrite, sphalerite and galena. But the true story is the gold, which makes up about 90 per cent of the metallic content material.

According to the company, with bullion costs driving high and hovering by means of $5000 per ounce, Gradina’s gold-rich profile might effectively see it steal the highlight from the company’s flagship Shanac deposit because the go-to for stage one development.

Strickland final month upgraded its useful resource at Shanac by 670,000 gold equal ounces to 5.3M ounces grading 1.1g/t gold equal.

Contributing to the improved numbers at Shanac, contained gold has been boosted by 17 per cent, contained copper is up 38 per cent and zinc stocks elevated by 40 per cent.

The useful resource additionally consists of a higher-grade core of 32Mt for 1.85M gold equal ounces operating at 1.8g/t, which interprets into a 15,000-gold equivalent-ounce useful resource per vertical metre operating 300m in depth.

The company’s international useful resource now sits at 7.4M ounces, which is an increase of 2M ounces because it took on the project 9 months in the past. The useful resource was unearthed at a discovery price of simply $3 per ounce.

In whole, Strickland’s armada now consists of three rigs drilling at Gradina, two rigs upgrading Shanac and one rig chasing blue-sky potential at Obradov Potok prospect.

With $33.8 million in money and Northern Star shares banked, Strickland says it’s well-funded to turbocharge its 2025 growth push.

In a market the place gold is flying high, the company’s most gold-rich target at Gradina might finish up being the ace in Strickland’s Serbian sleeve.

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