Strickland Metals’ Gold Streak Expands Mineralised Footprint at Palomino

Strickland Metals Ltd (ASX: STK) has once again intersected high-grade gold at Palomino, within the wholly-owned Yandal Project in Western Australia.

The importance of the latest results includes gold mineralisation in an area expected to be devoid.

Highlights here included; 9 metres at 2.4g/t gold from 22 metres; and 21 metres at 1.0g/t gold from 76 metres.

This represents a significant expansion of the mineralisation footprint and brings the modelled gold mineralisation closer to surface.

Strickland remains well-funded with over $51 million in cash and Northern Star Resources Ltd (ASX: NST) shares as at the end of the March 2024.

Drilling highlights

Results from the deeper mineralised area included:

  • 10.6 metres at 7.5g/t gold from 161.4 metres;
  • 20 metres at 1.4g/t gold from 123 metres; and
  • 20 metres at 1.7g/t gold from 148 metres.

Drilling is continuing to proceed well on site, with more assays from Palomino and Bronco expected shortly.

Exceeding expectations

Anthony McClure, chairman, commented:

“As mentioned in last week’s announcement, the results from the first two diamond holes exceeded expectations in terms of both grade and width.

“The same can be said for the assays reported today, again bringing into question whether historic results from the 1990s are underrepresenting the grade of the gold mineralisation.”

Additional drilling is required to confirm this.

The Strickland story

Strickland continues to build in to a mid-tier resources company.

The company holds a rare combination of two high quality strategic assets being Rogozna in Serbia, along with Yandal.

Scale is building with the projects hosting a combined resource base of 5.7 million of gold ounce equivalent.

Catalysts remain strong with over 80,000 metres of drilling, along with resource upgrades, over the next 18-months.

 

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