Strickland Metals (ASX: STK) has secured a $5 million strategic investment from Zijin Mining Group, a major Chinese mining firm. The investment, structured as a non-brokered private placement, will grant Zijin an approximate 2.4% stake in Strickland. Funds will be allocated to accelerate the development of the Rogozna gold and base metals project in Serbia, as well as Strickland’s Yandal project in Western Australia.
Zijin’s existing presence in Serbia, operating the Čukaru Peki copper and gold mine and the Bor copper and gold mine, highlights the region’s significance. These mines possess combined resources of 34 million tonnes of copper and 29 million ounces of gold. Strickland plans to use the investment to conduct approximately 20,000m of drilling at Gradina to support a maiden mineral resource estimate targeted for release in late 2025. Additionally, about 30,000m of resource- and discovery-focused drilling is planned across the wider Rogozna project, including the Shanac and Medenovac deposits, and the Jezerska Reka, Obradov Potok and Kotlovi prospects, to support scoping study-related work expected by late 2025.
