Strickland hikes Yandal gold ounces 56 per cent | Australian Markets

Strickland Metals has added 143,400 ounces of gold to the mixed mineral useful resource for its Horse Well camp in WA, boosting the prospect’s useful resource to 4.68 million tonnes at a respectable 1.94 grams per tonne for 291,500 ounces.

Combined with the 108,900 ounce Dusk ‘til Dawn deposit, the update lifts the total Yandal project inferred resource to an imposing 8.17 million tonnes at 1.52 g/t gold tonne for 400,400 ounces of gold.

The Dusk ‘til Dawn deposit sits about 16km north of and outside Strickland’s Horse Well gold camp and its useful resource is attributed to the better Yandal project space, about 85km northeast of Wiluna in Western Australia.

The optimistic revision represents a 56 per cent increase within the company’s earlier mineral useful resource estimate of 257,000 ounces for the Yandal project back in 2019 and is accompanied by an 8.6 per cent grade increase from 1.4g/t to 1.52g/t gold.

The latest mineral useful resource estimate is constrained within optimised pit shells based mostly on a gold price of A$4000 per ounce.

This signifies that extra mineralisation at present exterior these shells doubtlessly stays obtainable for inclusion in future useful resource upgrades after additional infill and extensional drilling, revised interpretations and fashions or additional gold price enhancements.

Notably all of the principal deposits on the project function open mineralisation, a reference to potential useful resource materials that may be inferred past the bounds of present drill holes which finish in mineralisation.

Some of these open holes additionally exhibit high-grade intercepts at or close to their deepest extents.

The Horse Well camp contains the Palomino-Filly-Filly SW, Warmblood and Bronco deposits and is an element of Strickland’s better Yandal project, 85km northeast of Wiluna in Western Australia’s Eastern Goldfields, within the Yandal/Millrose Greenstone Belt.

Importantly, a important quantity of earlier drilling on the project, a lot of which was undertaken final yr, additionally intersected robust gold mineralisation, most notably on the Marwari and Konik prospects, neither of which kind half of the up to date useful resource estimate.

Strickland says each of these prospects solely require a small quantity of infill drilling to convey the sources into the inferred useful resource classification.

The Warmblood pit optimisation is confined within the current extent of drilling, suggesting that additional extensional drilling might doubtlessly elevate the useful resource and its classification.

The present complete Yandal Project Mineral Resource Estimate is now bigger than the ~346,000oz Au Millrose deposit offered to Northern Star in 2023 for $61 million, and the gold price has nearly doubled since that time as nicely. All of the outlined sources stay open alongside strike and at depth, with unclassified mineralisation located exterior of the MRE pit constraints.

Much of final yr’s drilling was focussed on extending oxide and transitional mineralisation past historic useful resource estimates and was focussed primarily on defining higher-grade plunging shoots which might level to underground potential to be adopted up in future drill campaigns.

As a end result, much less drilling was performed internally within the potential useful resource areas on the time.

Some drilling was not accompanied by fashionable information QAQC, and whereas drill gap density may be deemed sufficient for indicated useful resource classifications, the mineral useful resource estimates at present stay in inferred classes till additional information refinement.

Strickland’s Yandal gold project encloses about 70km of strike alongside the potential greenstone terrane of the Celia Shear Zone and it sits alongside Northern Star’s Yandal operations which embrace that company’s mega 10 million ounce Jundee gold mine.

Less than 10km of that 70km strike has been explored in any severe measure and solely about 26 per cent of exploration drilling has probed deeper than 100m vertical depth.

After the company’s sale of its Millrose deposit to Northern Star for about $61 million in 2023, the Horse Well gold camp turned its key exploration focus at Yandal via final yr.

Strickland has now reworked Horse Well from simply “a high-grade interconnected mineral system”, by increasing the 257,000 ounce footprint of the pre-existing useful resource to more than 3km of strike.

In doing so, it has additionally recognized a quantity of high-grade parts and trends in every deposit and demonstrated that each one of its present deposits are open alongside strike and at depth.

Strickland is now primarily focussed on depth extensions at its Palomino and Warmblood Deposits, the place pit optimisations are constrained by drilling depth and extent, with high-grade mineralisation current at or close to the ground of the present optimized pit shells remaining open at depth and down plunge.

The company additionally intends to drill alongside the 1.6km-long Marwari pattern, to convey its present high-grade unclassified mineralisation on the Marwari and Filly (*56*) prospects into future useful resource classes.

Additionally, well-defined gold trends recognized by earlier scout air core drilling stay open alongside strike to the north the place they pattern undercover. These embrace the 3km-long Bronco-Konik pattern and the 1.6km-long Marwari pattern.

While the present mineral useful resource estimate extends over a mixed 2.3km of strike, more than 10km of the mineralised strike alongside outlined gold trends has but to be examined more comprehensively by reverse circulation or diamond drilling, representing a severe and sustained future exploration path for the company at Horse Well.

Strickland stays exceptionally well-funded with $33.8 million in money and Northern Star shares on the finish of the December Quarter which suggests if there may be one other Jundee lurking on the market someplace, likelihood is Strickland will discover it.

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