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  • Strickland Metals launches diamond drill campaign targeting ‘spectacular’ Rogozna gold equivalent mineralization

    Tue June 11 2024


    Strickland Metals Ltd (ASX:STK) has kicked off a comprehensive diamond drilling program targeting gold and copper at its Rogozna Project in Serbia. The 60,000-metre campaign began with the arrival of the first two diamond drilling rigs, which started operations over the weekend.

    Largest ever campaign

    This campaign has three main objectives - extending and upgrading resources at Shanac and Copper Canyon; defining maiden resources at Medenovac and Gradina; and exploring a pipeline of high-priority targets, including those with copper-gold porphyry potential.

    The primary focus is on the Shanac deposit, which boasts a 4.6-million-ounce gold equivalent (Au Eq) mineral resource.

    Skarn-hosted mineralisation at Shanac remains open to the north, east and at depth, presenting strong potential for further expansion.

    Historical drilling results have shown promising intervals, including 408.9 metres at 1.4 g/t Au Eq from 193.8 metres and 236.4 metres at 1.8 g/t Au Eq from 125.5 metres.

    Two additional diamond rigs are expected to arrive in the coming weeks, further supporting these efforts. The company also anticipates releasing results from two previously drilled diamond holes at Medenovac shortly.

    Strickland chair Anthony McClure said: “The 2024-25 drilling program at Rogozna, which will be the largest ever exploration drilling program undertaken at the project, has now commenced.

    “The local team has done an excellent job in completing site preparation activities. In the coming weeks we will have four diamond rigs drilling 24/7, with multiple geophysical survey crews mobilising shortly as well.

    Targeting "outstanding" gold

    “The first two rigs will initially be focused on the 4.6-million-ounce gold equivalent Shanac deposit, where outstanding results – such as ZRSD20120 408.9 metres at 1.4 g/t Au Eq and EOKSC1686: 236.4 metres ai 1.8 g/t Au Eq – have historically been intersected.

    “The substantial mineralisation remains open to the north, east and at depth. This drilling is expected to drive expansion of the current mineral resource.

    “Shanac is the most advanced part of the Rogozna project. The high-grade core, which occurs from around 150 metres to 450 metres vertical depth and represents approximately 30% of the total endowment at Shanac, averages a very impressive 14,000 Au Eq ounces per vertical metre (including up to a spectacular 20,000 Au Eq ounces per vertical metre in parts).

    “The drilling at Shanac is designed to better define the high-grade core, the results of which will then feed into ongoing mining studies. Upcoming drilling will also complete the necessary work to release maiden mineral resources for the advanced Medenovac and Gradina prospects.

    “Additionally, one diamond rig will be dedicated to testing the pipeline of excellent exploration targets, with a higher priority placed on testing targets exhibiting strong copper-gold porphyry potential.

    “The company eagerly looks forward to providing further updates on drilling, including the results from two previously drilled diamond holes at Medenovac, which are expected to be released shortly."

    Strickland Metals remains well-funded, with around A$51.4 million in cash and shares in Northern Star Resources as of the end of the March quarter.