Strickland Metals (ASX: STK) has reported positive drilling results from the Gradina prospect, part of its 100%-owned Rogozna gold and base metals project in Serbia. This development comes ahead of the maiden mineral resource estimate (MRE) expected later this year. Strickland Metals is focused on discovering and developing mineral resources, holding a portfolio of assets. The Rogozna project is a key asset, prospective for gold and base metals.
Ongoing drilling at Gradina is improving the definition of gold-dominant mineralisation. Highlight results include 34.4 metres at 2.6 grams per tonne gold from 329.5 metres and 14.5 metres at 4.4 grams per tonne gold from 332.1 metres. Assay results are pending for several holes from Gradina, Shanac, and Kotlovi, with the company anticipating further results in the coming weeks. According to managing director Paul L’Herpiniere, the results confirm the continuity of the gold system and support the current geological model.
Mineralisation at Gradina remains open in all directions, including up-dip towards the surface, where strong geochemical responses are evident in soil samples, and down-dip, where drilling indicates thickening of mineralisation at depth. Drilling in the northern section of Gradina has been completed recently, and five rigs are now operating in the southern part of the deposit. Strickland anticipates reporting further results in the coming weeks, and the new Gradina MRE is expected to be a key addition to the Rogozna project and its existing 7.4 million ounces of gold equivalent resource.
Currently, eight rigs are operating at Rogozna, with one at the Shanac target and two focused on exploration at other prospects. Strickland Metals is well-funded, reporting $34.8 million in cash and liquid assets as of 31 March 2024, and has since received an additional $5 million strategic investment from Zijin Mining. The Rogozna Project is located in Serbia’s Trepca mineral district, one of Europe’s major base metal mining centres, as Serbia is Europe’s second-largest copper producer.
