Strickland Metals (ASX:STK) reports the presence of a ‘significant’ new gold oxide mineralisation zone following reverse circulation (RC) and diamond drilling (DD) campaigns at its flagship wholly owned Millrose gold project in Western Australia.
The results continue to confirm the ‘high-grade’ nature of the primary Millrose North mineralisation and have successfully extended gold mineralisation 350m north of the current Mineral Resource.
Key results include:
- Hole MRRC228: 37m @ 1.6g/t Au from 58m, incl. 9m @ 5.6g/t Au from 86m – 200m north of Resource
- Hole MRRC234: 53m @ 1.1g/t Au from 44m, incl. 13m @ 3.3g/t Au from 84m – 120m north of Resource
- Hole MRRC238: 12m @ 4.9g/t Au from 64m, incl. 4m @ 13.6g/t Au from 68m – 80m north of Resource
Speaking on the results, Strickland’s Chief Executive Officer Andrew Bray said: “We’re very pleased to provide further assays from our flagship Millrose gold project. These excellent results continue to demonstrate the potential large scale of Millrose, with Strickland’s systematic exploration programs to date having significantly grown the mineralisation footprint.
These excellent results continue to demonstrate the potential large scale of Millrose
There is an important, emerging story around the intersection of increasingly impressive shallow oxide gold results. Drilling along strike from the current Mineral Resource has intersected a coherent zone over 350m to the north, with mineralisation remaining entirely open to the north and west. New lenses have also been discovered directly above Millrose.
None of these results are included in the current Mineral Resource model.
Discovery of additional shallow oxide mineralisation can potentially be of critical importance in mine development, allowing for a pit to be driven deeper in optimisation scenarios. The Company has also identified another ~400m strike of known oxide gold mineralisation from historic aircore drilling at Millrose Central, which is also not included in the current Mineral Resource. A number of RC holes have been drilled in this zone, with assays expected in late September / early October.
We’ve also successfully drilled three deeper diamond holes underneath the current Mineral Resource, following up on the very impressive intersection in MRDD008. This drilling suggests strong potential for further high-grade depth extensions.
Finally, both RC rigs are systematically testing the shear structure to the north and south of the main Millrose domain. Fence lines of short RC holes on 200m step-outs are being drilled to accurately map the shear structure. This program is expected to be completed during September 2022, at which point the Company will return to the most promising areas for further follow-up drilling.”
The company also notes that the identified mineralisation north of Millrose is entirely open to the west, with additional drilling being planned to test extensions to the north and west.
In addition, it is reported that three additional diamond drillholes conducted beneath the current Mineral Resource have successfully intersected the interpreted ore zone and delivers strong potential for further extensions to exist at depth.
The Millrose gold project is located on the Yandal greenstone belt in Western Australia and covers a total land area of 600km-square, comprising 30km of strike over the Celia Shear Zone with the Strickland owning 100% of all associated tenements.
The project currently boasts a total JORC 2012 compliant Mineral Resource Estimate (MRE) of 6.0Mt @ 1.8g/t Au for a total contained metals Au of 346,000oz, with a cut-off grade of 0.5g/t Au.
With RC and diamond drilling (DD) operations still ongoing, Strickland Metals announces that it has moved forward with mapping the northern and southern extent of the 13km shear structure.
All recent results are expected to be included into an updated MRE scheduled for 2023.
Images: Strickland Metals Ltd
