Strickland Metals makes new gold discovery at Horse Well project

An aggressive 40,000 metre air-core drilling program by Strickland Metals (ASX: STK) at its Horse Well project in Western Australia continues to produce results with an additional gold discovery being made.

The gold, assaying at 58m at 1.7 grams per tonne, was intersected in the newly identified Konick trend, a structure neither discovered nor drilled by previous explorers.

This 58m intersection includes a higher-grade interval of 10m at 4.2g/t gold.

Past explorers missed the trend

Historically, holes were drilled parallel to the Konick structure but past explorers failed to test the structure itself.

The Konick shear zone can be traced in geophysical datasets extending 600m to the south.

Strickland says it appears that its drilling has intersected the same structure 200m to the south of the new discovery, although assays are still pending.

Yandal East is main focus

Horse Well is part of the company’s Yandel East project.

In 2021 Strickland pulled off a series of acquisitions, consolidating the entire northeast flank of the Yandal greenstone belt.

Now, Strickland and Northern Star Resources (ASX: NST) are the only two companies left exploring this part of the belt.

Yandal East is now Strickland’s primary focus.

The company notes that the region has indications of a “very substantial” gold system with more than 100km of strike in the Celia Shear.

Closer spaced holes to be drilled

In preparation for planned reverse circulation drilling, Strickland says the air-core rig will now drill more closely spaced lines over the shear.

Chief executive officer Andrew Bray said the most pleasing factor with this latest gold intersection was its proximity to surface, mineralisation beginning at 17m down hole.

“This discovery highlights how fertile the Horse Well project is, and also the area’s potential to deliver strong grades over large widths,” he added.

This latest result comes on the heels of earlier results from the Marwari zone at Horse Well which included an intersection of 31m at 5.6g/t gold.

“Given we’re a little over halfway through the air-core program, it is an incredible result to have thus far delivered two new discoveries,” Mr Bray noted.

More areas to drill

An RC rig will arrive at Horse Well toward the end of October to assist with an expanded drill program through to Christmas.

Mr Bray says there are still large parts of Horse Well located away from the two discoveries to date.

The company plans to continue systematic testing over those new areas which are regarded as having potential for additional discoveries.