- Strickland Metals (STK) identifies a new prospect within the Earaheedy project in Western Australia
- Geological mapping following up “encouraging” soil sampling results, identified outcropping base metal gossan, now defined as the Malecite prospect
- Further induced polarisation surveying highlighted chargeability anomalies associated with both the Iroquois and Malecite prospects, and feeder structures to the mineralisation
- Strickland plans to drill test these structures and anomalies on receipt of Native Title heritage clearance
- Company shares are up 3.45 per cent to trade at six cents each as of 11:38 am AEST
Strickland Metals (STK) has identified a new prospect within the Earaheedy project in Western Australia.
Strickland holds 80 per cent of the project in a joint venture with ASX-lister Gibb River Diamonds (GIB).
Earlier this year, STK received “encouraging” results from a soil sampling program across the project area and subsequent geological mapping identified outcropping base metal gossan, now defined as the new Malecite prospect.
Rock chip assays from the outcropping gossan returned peak results of 7.3 per cent lead, 0.5 per cent copper, 4.8 grams of silver per tonne (g/t), 0.4 per cent zinc and 25 per cent manganese.
CEO Andrew Bray said the results “confirm that the zinc and lead is associated with copper, antimony, cadmium, silver, and bismuth, typical of basin base metal mineralisation”.
Since defining the new prospect, Strickland has completed induced polarisation surveying which highlighted chargeability anomalies associated with both the Iroquois prospect and Malecite, as well as the feeder structures to the mineralisation.
Given the zonation in mineralisation from the interpreted ‘feeder structure’ identified from previous drilling at Iroquois, the company believes the chargeability anomalies could be highlighting a more sulphide rich zone.
Drilling is planned to test these structures and anomalies once Native Title heritage clearance is secured.
Company shares were up 3.45 per cent to trade at six cents each as of 11:38 am AEST.