Strickland Metals Ltd (ASX:STK) has updated the market on its 100%-owned Millrose Gold Project on the north east flank of the Yandal Belt.
The company has recorded several highlights over the last few weeks, including the completion of its native title heritage survey and the receipt of a clearance report that allows it to continue drilling. Looking forward, it will start a magnetic survey next week and has secured a third drill rig, which will start in July.
“While awaiting further assay results, Strickland continues to rapidly advance its flagship Millrose gold project,” STK CEO Andrew Bray said.
“During the week commencing May 16, Strickland completed a native title heritage survey in conjunction with Tarlka Matuwa Piarku Aboriginal Corporation (TMPAC). The survey focused solely on securing clearance over the northern and southern extensions of the existing gold mineralisation. The entirety of the 13-kilometre BIF unit (which appears to be the key marker horizon for gold mineralisation) has now been surveyed.
“Separately, a magnetic geophysical survey will commence over Millrose next week. The BIF unit is highly magnetic and clearly traceable in historic magnetic datasets.
"The focus of the survey will be to more accurately map the unit, with a focus on determining areas of structural offset along strike. This will allow for more targeted drilling along the extensive mineralised shear structure.
"Finally, we have also secured another reverse circulation (RC) rig to arrive at Millrose during July 2022, taking the total number of rigs to three. The rig will initially focus on drilling out the northern and southern extensions mapped by the BIF unit.
"An additional rig also offers Strickland the flexibility to undertake small regional exploration programs while awaiting gold assays from Millrose, including to potentially follow up the zinc-lead mineralisation at Iroquois and the surrounding targets at Dusk til Dawn.”
Native title
STK completed its native title heritage survey in mid-May over the entirety of the BIF unit at its flagship Millrose gold project.
After several delays, but given the fantastic gold results received from the initial Millrose drilling, STK decided to amend the survey to focus solely on securing clearance over the northern and southern extensions.
The clearance report is expected to be received within a fortnight, at which point STK will be in a position move rigs to continue drilling the remainder of the 13km strike.
Magnetic survey to start next week
The company will start its magnetic survey next week.
The BIF unit, which appears to be the key footwall marker horizon for the gold mineralisation is highly magnetic and clearly traceable in historic magnetic datasets. The existing resolution of the historic dataset is at 100-metre line spacings. This new ground magnetic survey will be at 25-line metre spacings, allowing for a much clearer resolution.
Drilling to date has encountered structural offsets along strike, where the main ore zone has been either offset to the east or west.
It is expected this survey will give STK more accurate drill-target testing of the main mineralised shear structure along strike.
New drill rig
A third rig has been secured by STK and will arrive during July 2022.
This RC rig will focus on drilling the northern and southern extensions to the existing Millrose gold mineralisation and gives STK the flexibility to conduct small regional exploration programs while awaiting gold assays from Millrose, including to potentially follow up the zinc-lead mineralisation at Iroquois as well as the surrounding areas at Dusk til Dawn.
Assays to come
Strickland is yet another company affected by the backlog of assays, but it has been advised that the backlog will be cleared towards the end of June.