Strickland fires up six-rig blitz in Serbian | Australian Markets

Strickland Metals has launched its largest exploration assault on the company’s flagship 7.4-million-ounce gold equal Rogozna gold and base metals project in Serbia, with first assays due back as early as subsequent week.

Armed with six diamond rigs and a battle chest of almost $40 million, eight diamond holes have already been accomplished. The company is charging towards a maiden useful resource on the gold-only Gradina prospect and sniffing out a potential game-changing porphyry giant at its Jezerska Reka prospect.

The drilling program can be concentrating on useful resource extensions at Shanac and Medenovac, along with early-stage exploration on the company’s Kotlovi and Obradov Potok prospects.

But the true fireworks are at Gradina, the place 4 rigs are zeroed in on the high-grade northern zone, chasing shallow gold hits to ship a maiden useful resource by yr’s finish.

Strickland plans to smash out 20,000 metres of diamond drilling throughout 40 holes on the prospect to unlock high-potential up-dip gold mineralisation on Gradina Hill. The company can be developing a new entry monitor to push into Gradina’s southern zones, which is predicted to be prepared by late May.

Following an distinctive yr of exploration at Rogozna in 2024, which resulted in a 2 million gold equal ounce increase in our useful resource base to 7.4 million gold equal ounces, we’re excited to increase our efforts to grow and progress the project during 2025.

Over at Shanac, two rigs are hammering away, scorching on the path of a high-grade skarn zone unveiled final yr with a show-stopping hit of 89.7m at 4 grams per tonne (g/t) gold. Ten diamond holes are deliberate, totalling 6000m, with 4 already in the bag. The company goals to flesh out shallow, high-grade zones that might fast-track development and supercharge the project’s momentum.

At Medenovac, 4 holes for 3000m will probe simply north of its 1.28-million-ounce gold equal useful resource to chase promising high-grade hits that didn’t make it into the maiden estimate because of sparse drilling.

With one eye on making a transformational discovery, Strickland will even use some priceless rig time to drop three diamond holes – totalling 2000m – into the company’s thrilling Jezerska Reka copper gold porphyry prospect.

Porphyry deposits can typically comprise bulk-scale operations with large tonnage, low-grade, easy-to-mine deposits, which might stretch from floor to deep underground.

A review final yr by famend porphyry knowledgeable David Cooke of the potential for intrusive our bodies throughout the broader Rogozna project reported a considerably improved technical understanding of Jezerska Reka’s porphyry potential.

Cooke’s review recommended the skarn deposits and epithermal veins beforehand discovered at Jezerska may belong to a greater system and will present the chance for porphyry-style mineralisation at depth.

Skarn-hosted systems as huge as Rogozna are extraordinarily uncommon and are sometimes linked to giant porphyry copper-gold deposits, very like McMoRan’s Grasberg-Ertsberg monster deposit in Indonesia.

As half of the hunt for added porphyry targets, Strickland will even kick off greenfield exploration in the central Rogozna hall, the place youthful volcanic cowl could also be masking different main systems.

Early-stage exploration can be deliberate on the company’s Kotlovi prospect, 350m southwest of Medenovac. A standout hit lit the match final yr with a 12m intercept grading 5.7g/t gold, within a bigger part of 40.3m working at 2.6g/t gold from 558m.

Strickland will now plunge 5 holes totalling 4000m into the prospect to scope out each strike and dip extensions. The hole between Kotlovi and Medenovac will even get a strong check.

The company intends to spherical off its drill program with a thorough investigation of three additional largely untested targets.

At Obradov Potok, a large 2-square-kilometre anomaly shall be hit with 5 holes, whereas Red Creek, simply 500m from Shanac, is set for 1500m of drill testing to focus on robust multi-element indicators and historic workings. At Cesme, one deep 800m gap goals to increase a juicy earlier 125m skarn hit grading 2.1g/t gold equal.

To address the large uplift in workload from the 50,000m program, the company has employed a additional 10 technical and assist employees in Serbia.

Sitting on $40M in the bank, which was not too long ago topped up with a $5M placement to Chinese heavyweight Zijin Mining, Strickland’s latest drilling blitz at Rogozna is firmly locked and loaded.

With more than 100 diamond holes on the menu, the company’s news circulation is more likely to come thick and fast, protecting the punters centered as its Serbian juggernaut begins to roll.

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