Strickland Metals (ASX:STK) believes in the potential for continued resource growth at the Rogozna Gold and Base Metals Project in Serbia, after receiving assay results from three drillholes.
The results come from the resource expansion and exploration drilling program conducted at the Shanac deposit.
Four rigs are continuing to drill across the Rogozna project, with assays pending for multiple drillholes.
Some recent the intercepts include drillhole ZRSD24153 with 545.7m @ 1.1 grams per tonne (g/t) gold-equivalent from 108.2m, including 102m @ 1.7g/t gold-equivalent, including 30m @ 2.4g/t gold-equivalent.
Strickland, which has a market capitalisation of $185.42 million, says the results show that mineralisation at the northern end of the current Shanac resource remains completely open, further highlighting the resource growth potential.
The company reports further assays were received from an additional two holes including 355.7m @ 1g/t gold-equivalent from 189.5m; and 65.8m @ 1.1g/t gold-equivalent from 281.4m.
Managing Director Paul L’Herpiniere says the higher grade intercepts in the recent holes all sit within the previously uncovered central domain of the deposit.
“This is significant as it correlates with recent drilling and confirms that our updated geological model remains valid to the north, away from the greater concentration of previous drilling and more recently announced results,” L’Herpiniere says.
L’Herpiniere notes that the northern part of the resource has had the least amount of drilling, which has, until now, restricted the company’s understanding of the spatial distribution and tenor of the higher grade mineralised zones.
The Rogozna Gold and Base Metals Project lies in southern Serbia and sits within the Tethyan Metallogenic Belt. The company says the project has the potential to become one of the ‘largest’ undeveloped gold deposits in the world.
Write to Aaliyah Rogan at Mining.com.au
Images: Strickland Metals
