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Strickland Metals Limited (ASX:STK) (Strickland or the Company) is pleased to provide an update on exploration activities at its 100%-owned Rogozna Gold and Base Metals Project in Serbia.
Highlights:
- Second diamond drill hole completed by Strickland at Shanac has returned a massive intercept (including internal waste) of 308.4m @ 0.7g/t Au, 0.2% Cu, 1.0% Zn, 0.5% Pb and 6.6g/t Ag (1.9g/t Au Eq1) from 299.4m (ZRSD24150).
- The 308.4m interval includes multiple zones of higher-grade gold and base metals mineralisation, including:
- 90.9m @ 1.4g/t Au, 0.3% Cu, 0.3% Zn and 4.4g/t Ag (2.3g/t Au Eq1) from 333.7m, including
- 26.0m @ 2.1g/t Au, 0.4% Cu, 0.1% Zn, 5.0g/t Ag (3.0 g/t Au Eq1) from 357.7m, and
- 61.3m @ 0.3g/t Au, 0.1% Cu, 3.7% Zn, 2.1% Pb and 20.6g/t Ag (3.5g/t Au Eq1) from 470.9m, including
- 6.0m @ 0.4g/t Au, 0.1% Cu, 12.5% Zn, 6.8% Pb and 36.4g/t Ag (10.4 g/t Au Eq1) from 482.9m, and
- 10.0m @ 0.3g/t Au, 0.2% Cu, 9.7%, Zn, 4.8% Pb and 57.0g/t Ag (8.4 g/t Au Eq1) from 520.7m, and
- 47.1m @ 0.7g/t Au, 0.4% Cu, 0.2% Zn and 2.2g/t Ag (1.6g/t Au Eq1) from 560.7m, including
- 6.0m @ 1.1g/t Au, 1.1% Cu and 4.2g/t Ag (3.2g/t Au Eq1) from 586.7m.
- 90.9m @ 1.4g/t Au, 0.3% Cu, 0.3% Zn and 4.4g/t Ag (2.3g/t Au Eq1) from 333.7m, including
- The hole further validates the updated geological model, highlighting the potential of the Central Domain to host extensive higher-grade mineralisation.
- Six rigs continue drilling across the Rogozna, Serbia and Yandal, Western Australia Projects with assay results for multiple holes pending for both projects.
- Strickland remains extremely well-funded, with $48.7 million in cash and NST shares as at the end of the June quarter.
Figure 1. Core photo of copper-gold-magnetite skarn from ZRSD24150
Paul L’Herpiniere, Managing Director of Strickland, said: “These latest results from ongoing drilling at the 4.6Moz Au Eq Shanac deposit2 provide further support of our strategy to target the higher-grade mineralisation zones within the Central Domain of the deposit. This hole was drilled ~100m along strike to the southeast of ZRSD24149 and was targeting the body of copper-gold-magnetite skarn that was also encountered in the earlier hole. With a 90.9m intercept of copper-gold mineralisation grading 1.4g/t Au and 0.3% Cu from 333.7m downhole, the copper-gold-magnetite skarn is demonstrating excellent consistency of grade and thickness at the southern end of the deposit.
Of further significance in this hole was a thick zone of high-grade epithermal gold-zinc-lead-silver mineralisation intercepted at a downhole depth of 482.9m. This mineralisation is hosted within hydrothermal breccia, occurring adjacent to the mineralisation-controlling central dyke at depth.
We are also excited to report that we have commenced drilling a follow-up hole to ZRSD24149, specifically targeting an extension to the newly identified “gold skarn” which returned the spectacular intercept of 89.4m @ 4.0 g/t Au from 244.5m3 downhole depth, within a broader mineralised envelope of 293.9m @ 2.5g/t Au Eq from 162.3m depth3. We look forward to updating the market with further results as they come to hand.”
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