Here’s how Strickland plans to quickly pile the gold ounces on at Millrose
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Strickland has completed a review highlighting the potential to rapidly expand resources at its recently acquired Millrose gold project in WA’s Yandal Belt.
The review indicates that mineralisation at the 346,000oz project remains open in all directions while noting that areas of historical gold mineralisation were not included in the current resource.
Strickland Metals (ASX:STK) had acquired Millrose earlier this year as part of its strategy to consolidate its tenure over the eastern flank of the highly prospective yet underexplored Yandal Belt.
This potential is underscored by the major gold deposits such as Northern Star’s +10 million ounce (Moz) Jundee project and the 4Moz Bronzewing and 3.5Moz Darlot projects.
“Millrose is clearly shaping up as a tremendous opportunity for Strickland to rapidly grow its current mineral resource inventory in a very attractive part of the Western Australian gold fields,” technical consultant Peter Langworthy noted.
“It’s very rare to acquire such a high-quality project which has so much short term upside in a region like where we are with Millrose.
“The prospect has high-grade mineralisation open in virtually every direction, without any follow up drilling over the past two decades. Further, it lies only 30km due east of Northern Star’s giant Jundee gold operation.”
The company plans to begin resource extensional drilling in the December quarter in areas of previously identified gold mineralisation that were not included in past resource calculations.
Langworthy explained that this is expected to add substantial gold ounces very cheaply and quickly.
This drilling will also test depth extensions to higher grade zones that remain open.
Strickland also expects to carry out a systematic drill out of mineralisation to the north and south of the currently modelled deposits.
Historical aircore drilling of these areas has already identified similar mineralisation to what is seen above the current resource.
Results from these programs will feed into an updated resources assessment targeted for the third quarter of 2022.
“Overall Millrose represents a fantastic opportunity to take Strickland’s resource base to the next level in a very cost-effective manner,” Langworthy concluded.
This article was developed in collaboration with Strickland Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.