Earlier in the week, Strickland brought in a sixth drill rig to smash out 20,000 metres of diamond drilling at Gradina, focussing on a shallow, high-priority up-dip zone towards surface.
An earlier drilling blitz lit up with cores bearing multiple high-grade gold hits across three distinct lodes. Highlights included a cracking 14.3m at 8 grams per tonne (g/t) gold from 517m, featuring a 2m section of 17.6g/t, and several wide zones such as 12m at 3.6g/t gold and 6m at 5.7g/t gold.
One lode was tracked four times up-dip from 603m to as shallow as 150m, where a 48.5m intercept at 3.1g/t gold hinted at a flattening gold seam angling 40 degrees to surface.
With mineralisation trending right up a gold-rich ridge, management says the find could be a game-changer, potentially opening the door to a low-cost, horizontal adit from the west.
Strickland now has the six diamond rigs spinning across the broader project area and plans to throw the new funds at about 50,000m of additional drilling planned for the year. Key priorities include delivering a maiden resource at Gradina, further resource expansion across the broader project area and pushing on with scoping work for development at the project.
Zijin’s vote of confidence also helps shore up Strickland’s balance sheet ahead of another big year at its Yandal gold project in Western Australia, which holds a JORC resource of more than 400,000 ounces.
Strickland says Yandal continues to be a valuable piece of the company’s portfolio and the placement funds will support ongoing exploration across both assets, as well as general working capital.
With drills whirring, resources growing and heavyweight backing in its corner, Strickland’s Serbian gold-copper play is heating up – and this latest deal could mark the start of something very special.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
