Strickland Metals (ASX:STK) is mobilising a diamond drill crew to the Horse Well prospect within its Yandal Gold Project in Western Australia, with drilling kicking off over the weekend.
The $158.51 million market capitalisation company is prioritising the Marwari discovery for testing first, as Strickland believes that this magnetite alteration is potentially marking the alteration zone associated with the gold event.
After the diamond drilling, a reverse circulation (RC) rig will arrive sometime this week, which will begin initial testing of the ‘large-scale’ Great Western gold target before moving to Marwari and Chetak.
Strickland Metals Chief Executive Officer (CEO) Andrew Bray says drilling is starting to ramp up for the final months of the year, and by the end of the week, there will be 3 rigs testing ‘high-priority’ targets within the Yandal project.
“Upon receipt of the heritage survey report, line clearances will immediately begin at Great Western and Rabbit Well. A further announcement will be made with respect to specific plans once the rig has commenced work.
“Strickland remains very excited for a strong finish to the year, particularly given the number of very-high-quality targets and prospects we will be drilling over the next couple of months”
Strickland remains very excited for a strong finish to the year, particularly given the number of very-high-quality targets and prospects we will be drilling over the next couple of months.”
The company notes a ‘large’ number of assays remain outstanding from its latest aircore drilling program.
The Horse Well prospect lies in the northern part of the Yandal/Millrose Greenstone belt, which hosts several multi-million-ounce gold projects.
Strickland Metals is an Australian copper-gold explorer focused on its portfolio of projects in Western Australia.
As of 30 June 2023, the company had $1.698 million cash at hand, according to its latest quarterly report. Subsequent to the end of the quarter, Strickland Metals completed the $61 million sale of its Millrose Project.
Write to Aaliyah Rogan at Mining.com.au
Images: Strickland Metals
