Strickland Metals Ltd (ASX:STK) has paid Renegade Exploration Limited the balance of its $400,000 cash component for the sale of the Yandal Project.
STK began the acquisition process of Renegade’s Yandal East tenements in July 2021, agreeing to pay $800,000 in cash and 40 million new Strickland shares for 75% of the holding.
Renegade now retains 40 million shares in Strickland (voluntarily escrowed to July 16, 2022) and a 0.5% NSR over the previously held Renegade Yandal Project area.
The acquisition increases STK’s footprint in the tier-1 Yandal gold belt in WA’s north-eastern Goldfields.
Land is on strategic ground
Yandal East spans approximately 320 square kilometres and is immediately to the south of Strickland’s 1,000 square kilometre Horse Well gold project tenure.
It also lies about 30 kilometres east of Northern Star Resources’ 10-million-ounce-plus Jundee gold operation.
Just yesterday, STK extended gold mineralisation at the Dusk til Dawn prospect of its Yandal Project.
Results from last year’s RC drilling program are now being included in resource remodelling being used to update the 108,900-ounce Dusk til Dawn resource.
Read: Strickland Metals in bright start to new year with Dusk til Dawn gold extensions