Proactive’s Tylah Tully breaks down ‘Just the Facts’ from Strickland Metals Ltd (ASX:STK) latest ASX announcement.
It has announced a major gold intercept at the Medenovac prospect in the Rogozna Project, Serbia. Drill hole ZRSD24157 intersected 365.8 metres at 2.0 g/t gold equivalent from 198.4 metres depth, including higher-grade sections: 50 metres at 5.6 g/t gold, 19.8 metres at 2.8 g/t, and 24 metres at 3.6 g/t gold. This marks the third-best drill intercept at the project, with a gold equivalent of 728 gram-metres.
The company states the new data supports the presence of a significant high-grade mineralisation body extending over 150 metres at the southern end of the deposit, with mineralisation open along strike and depth. A maiden resource estimate for Medenovac is expected in early 2025.
Strickland has started follow-up drilling, with additional results anticipated soon. The company has $48.7 million in cash, plus shares from Northern Star Resources, to fund further exploration. Four drill rigs are active at Rogozna, with assay results for several holes pending.