New oxide gold zones hint at scale of Strickland’s Millrose project

Strickland has intersected thick new zones of oxide gold mineralisation north of the existing resource at its flagship Millrose gold project in WA’s Yandal greenstone belt.

Notably for the company, results such as 37m grading 1.6 grams per tonne (g/t) gold from a down-hole depth of 58m including 9m at 5.6g/t gold from 86m (MRRC228) and 12m at 4.9g/t gold from 64m including 4m at 13.6g/t gold from 68m (MRRC238) have extended mineralisation by about 350m to the north.

New oxide lenses were also intersected above the current JORC Resource of 6Mt at 1.8g/t gold for 346,000oz contained gold.

The drill results neatly demonstrate the potential scale of the Millrose project while infill drilling continues to return consistent gold intersections.

Strickland Metals (ASX:STK) is also waiting on assays from three diamond holes which successfully tested the interpreted ore zone up to 90m down dip from the current Resource and beneath MRDD008 (8.1m at 14.6g/t gold from 215m).

Chief executive officer Andrew Bray said the “impressive” shallow oxide gold results from drilling along strike from the current resource have defined a coherent zone over 350m to the north, with mineralisation remaining entirely open to the north and west.

“Discovery of additional shallow oxide mineralisation (above the existing fresh rock mineralisation) can potentially be of critical importance in mine development, allowing for a pit to be driven deeper in optimisation scenarios,” he explained.

“The company has also identified another ~400m strike of known oxide gold mineralisation from historic aircore drilling at Millrose Central, which is also not included in the current Mineral Resource.

“A number of RC holes have been drilled in this zone, with assays expected in late September / early October.

“We’ve also successfully drilled three deeper diamond holes underneath the current Mineral Resource, following up on the very impressive intersection in MRDD008. This drilling suggests strong potential for further high-grade depth extensions.”

Bray noted that two reverse circulation rigs are systematically testing the shear structure to the north and south of the main Millrose domain with fence lines of short holes being drilled to accurately map the shear structure.

New oxide lenses and next steps

Besides the new oxide zone, drilling has also intersected new shallow oxide gold lenses above the existing resource, with assays returning results such as:

• 3m at 14.8g/t gold from 8m (MRRC139);
• 11m at 2.4g/t gold from 58m including 2m at 8.6g/t gold from 65m (MRRC009); and
• 5m at 3.4g/t gold from 82m (MRRC145).

Strickland plans to carry out infill drilling of the new oxide zone, which extends northwards to the previously discovered fresh rock zone delineated by MRRC130 (8m at 4g/t gold from 104m), to incorporate the mineralisation into an updated resource in 2023.

Additional drilling will also test for extensions to the mineralisation to the north and west.

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This article was developed in collaboration with Strickland Metals (ASX:STK), 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.