Strickland Metals Charts New Gold Territory with Emerging Discovery at Rogozna Project in Serbia
Strickland Metals (ASX: STK) continues to see the benefits of its accelerated exploration campaign in Serbia, with new results from the Kotlovi prospect confirming an emerging discovery at its flagship Rogozna gold and base metals project.
Strickland currently has eight rigs in operation across the Rogozna project, one testing for further extensions to mineralisation at Kotlovi.
Kotlovi sits just 350 metres west of Medenovac, one of four large-scale skarn-hosted deposits Strickland has defined at Rogozna.
Growing Gold Footprint
Designed to test a large target to the south of the two discovery holes drilled at Kotlovi in the second half of 2024, the latest work at the prospect encountered several hundred metres of mineralisation from a downhole depth of 337.4m, including multiple intercepts of higher-grade mineralisation zones.
The drilling encountered two distinct mineralisation zones—an eastern zone of mineralisation that is gold-dominant, and a western zone containing gold and notable levels of base metals.
“With several hundred metres of continuous mineralisation, including multiple higher-grade zones of gold-dominant mineralisation, Kotlovi is quickly becoming a key target for substantial resource growth,” managing director Paul L’Herpiniere said.
“We have now intercepted high-grade gold mineralisation along approximately 200m of strike at Kotlovi, with mineralisation remaining open both along strike and up-dip towards surface, [and] with several additional holes still to be drilled in 2025, we look forward to gaining a better understanding of the scale of this exciting discovery by year’s end.”
High-Impact Drilling
Strickland is continuing to step-up activities in Serbia, where it has achieved a run of drilling success in recent months, including recoveries of up to 97.9% gold using standard industry flotation methods in a 50,000m diamond drilling campaign at Gradina.
The work aimed to optimise the gold recoveries and confirm the company’s proposed flowsheet for Gradina, where drilling continues to expand the mineralised footprint.
Strickland currently has four rigs targeting a maiden resource at Gradina, two rigs conducting exploration at Jezerska Reka and Obradov Potok, and one searching for the prospective contact within the central domain at Shanac, where Strickland recently extended the higher-grade mineralisation zones on the western side of the Central Domain.
Corporate Activity
Strickland recently entered into a binding agreement with Gateway Mining (ASX: GML) for the sale of the Yandal gold project, on completion of which Strickland will receive $45 million in Gateway convertible preference shares.
The sale allows Strickland to realise significant value from the project and focus solely on its aggressive advancement at Rogozna.
The company remains extremely well-funded to advance exploration at Rogozna, with cash and Northern Star Resources (ASX: NST) shares totalling approximately $32.7m on hand at the end of the June quarter.