Strickland Metals Ltd (ASX:STK) has identified a new gold structure — termed Celia South — at its 100%-owned Yandal Gold Project in Western Australia.
The gold mineralisation intersected is in an analogous position to the Millrose gold deposit that is 35 kilometres along strike, which Strickland last year sold to Northern Star Resources.
Celia South
Aircore assays received from the end of the 2023 aircore program have highlighted this significant new gold mineralised trend over 1.4 kilometres in length.
The first-pass aircore drilling intersected high-grade gold on the BIF-mafic schist contact, with grades up to 8.6 g/t gold.
Five aircore line traverses were completed at 50-metre spacings east-west and 400 metres north-south. The drilling was targeting gold anomalism over a corresponding high magnetic feature, interpreted to be a banded iron formation (BIF) unit.
Strickland notes that the main controls on the high-grade mineralisation at Millrose was the density contrast between the magnetic high BIF unit and the more ductile mafic schist unit. This allowed for the high-grade mineralisation to develop.
Follow-up drilling will occur once the main exploration programs commence in April 2024.
Strickland chief executive officer Andrew Bray said: “As announced to the market on November 30, 2023, Strickland expanded the aircore program last year to take in a number of other areas away from Horse Well, where the bulk of the drilling had historically occurred.
“Drilling occurred at a new prospect area, termed Celia South. Pleasingly, gold was intersected in this aircore drilling, confirming the structure as having strong potential to host further strong gold mineralisation.
"What is of more significance is that gold was intersected in an analogous position to that of Millrose ie on the BIF-mafic schist contact. Celia South sits approximately 35 kilometres along strike from Millrose on the same regional structure.
“As Strickland has repeated many times, we have always been of the view that there were multiple ‘look-a-like’ Millrose targets to be found within Strickland’s Yandal tenure.
"The geology, geophysics, geochemistry and now confirmed high-grade gold mineralisation in first-pass drilling, are all suggestive of Celia South having the potential to host something similar to Millrose.”
Topographic image highlighting aircore intersections at Celia South.
Great Western
At Great Western, drilling intersected a very strong, coherent intrusive related system with similar geology and geochemical pathfinder signatures to concealed Intrusive Related Gold Systems across the Paterson Province.
Drilling was designed to test a strong magnetic bullseye target that had coincident chargeability, strong pathfinder (+ gold) surface geochemistry.
The drilling intersected broad zones of intrusive related pathfinder geochemistry bismuth-molybdenum-tungsten, alteration and pyrite mineralisation. This is highly encouraging for future drilling more proximal to the intrusive feature.
Modelling of the intrusive feature has placed the source of this magnetic anomaly at approximately 400 metres deep.
Historic rock chip sampling in the immediate area returned gold grades up to 1.6 g/t and given the large degree of hydrothermal alteration and intrusive related pathfinder geochemistry, it makes both the deeper target feature and the extensive de-magnetisation zone (that connects Great Western with Horse Well), compelling high priority exploration targets.
Strickland says this target is a high priority for diamond drilling once the main exploration programs commence in April 2024.
Bray said: “Assays were also returned from the initial drilling at Great Western. These were the first holes to have ever been drilled at the prospect, and while we were hopeful of intersecting background gold mineralisation, what remains very encouraging is the level of geochemical anomalism.
"A very highly anomalous, coherent zone of bismuth-molybdenum-tungsten pathfinder geochemical anomalism was intersected in the drilling, along with an alteration assemblage typical of large, intrusive systems.
“The main intrusive feature, located ~200 metres beneath this line of drilling, is now a high priority for diamond drilling when rigs return in April 2024. The presence of surface expression of gold (rock chips up to 1.6 g/t gold) confirm that there is gold present in the system.”
He added: “Separate to these results, the RC drilling ongoing on site is proceeding very well now that weather conditions have improved."
Cross section of first pass drilling at the Great Western gold prospect.
Rabbit Well
Strickland confirms that the ongoing RC drilling at Rabbit Well is proceeding well and expects to provide an update soon on the program’s progress. Drilling continues to confirm the company’s view that Rabbit Well represents a large-scale base metal system
“Drilling continues to confirm the company’s view that Rabbit Well is a major base metal system. An update will be provided shortly on the RC program’s progress,” said Bray.
Strickland remains extremely well funded, with cash and shares in Northern Star Resources worth around $54 million at the end of the December quarter.