Strickland Metals (ASX:STK) has outlined a new primary mineralised structure at its Dusk til Dawn resource within its Yandal Gold Project in Western Australia through its expanded aircore drilling program.
The $162.7 million market capitalisation company says bottom-of-hole aircore intercepts highlighted a consistent 750m newly defined mineralised structure due west of Dusk til Dawn, which lies roughly 20km north-northwest of the Horse Well area.
Both Dusk til Dawn and the new shear zone remain open down-dip and down-plunge, which Strickland says offers potential depth extensions and thicker gold intercepts where the shear zones coalesce.
Strickland is now planning follow-up reverse circulation (RC) drilling as part of a larger exploration program across the Horse Well area.
The new primary mineralised structure discovery comes after Strickland in November 2023 expanded its aircore drilling program to test several areas away from Horse Well, which had been the focus of most of its drilling.
These new focus areas included the 109,000-ounce Dusk til Dawn resource, which the company says has ‘historically been poorly understood’; while previous drilling had struck ‘significant’ gold anomalism, explorers have had little understanding of the geometry or potential controls on mineralisation in the area.
The company says the new aircore results demonstrate the potential for multiple stacked and parallel mineralised lodes that could ‘significantly’ increase the resource base of the area.
Strickland CEO Andrew Bray says though the company’s new aircore results have successfully defined a 750m target corridor, all anomalous results were observed in the final metres of each hole — no drilling was able to penetrate fresh rock.
“These results are a good reminder of the tremendous potential our Yandal gold project offers.
While most of the drilling last year occurred at Horse Well (where significant new mineralisation was discovered and requires follow-up drilling), the mineralisation referred to in this announcement is over 20km away.”
Bray says the majority of the ground between these two targets remains ‘virtually unexplored’.
Meanwhile, Strickland has also kicked off RC drilling at its Rabbit Well prospect, which Bray says will focus on mapping the overall geological, alteration, and pathfinder geochemical model to ‘vector in’ on the primary source of oxide base metal mineralisation previously intersected in the area.
Assays from this work are expected to be announced within the next 2 weeks.
Alongside its Yandal project, Strickland also owns the Iroquois Zinc-Lead-Silver Project and the Bryah Basin Gold-Copper Project, both in Western Australia.
Strickland Metals had around $33.4 million cash and cash equivalents at hand at the end of December 2023, according to its latest quarterly report.
Images: Strickland Metals
