Join our daily newsletter At The Bell to receive exclusive market insights
Strickland Metals Ltd (ASX:STK) has picked up a bonanza intercept of 545.7 metres at 1.1 gram per tonne of gold from its Shanac deposit – part of the wider Rogozna gold and base metals project in Serbia.
And investors appeared pleased with the news, sending Strickland’s share price up 1.19% (to 8.5 cents) by 11:07 AEDT.
The result was taken from one hole of three in a diamond drilling program at Shanac – a deposit hosting a mineral resource estimate of 4.6 million ounces – with mineralisation at the deposit’s northern end remaining completely open.
In one hole, intercepts included 545.7 metres at 1.1g/t gold equivalent (AuEq) from 108.2 metres, including: 102.0 metres at 1.7g/t AuEq from 243.0m, including: 30.0 metres at 2.4g/t AuEq from 253.0m; and 21.0 metres at 2.6g/t AuEq from 367 metres.
In a second hole, intercepts included 355.7 metres at 1.0g/t AuEq from 189.5 metres, including 41.7 metres at 2.4g/t AuEq from 436.5m.
A third yielded results such as 65.8 metres at 1.1g/t AuEq from 281.4m, including: 9.2m at 4.1g/t Au from 336.0 metres; and 175.7 metres at 0.9g/t AuEq from 381.6 metres, including: 30.0 metres at 1.7g/t AuEq from 456.0 metres.
Strickland managing director, Paul L’Herpiniere said the results were part of a continuing optimistic story at Rogozna.
“With more than 500m of continuous gold and base metals mineralisation encountered in ZRSD24153, these latest results show that the mineralisation towards the northern end of the currently defined deposit remains completely open, highlighting the excellent potential to rapidly expand the resource at the Project’s cornerstone deposit,” he said.
Strickland is continuing drilling work, with four rigs on-site at Rogozna, two dedicated to the Shanac deposit.
Join the discussion: See what HotCopper users are saying about Strickland Metals and be part of the conversations that move the markets.
