Serbian gold continues to delight for Strickland with 50m at 5.6g/t AuEq hit at Rogozna

Strickland hits thick, high grade intercepts as it looks to prove the world class potential of its 5.4Moz gold equivalent Rogozna project in Serbia
Highlight hit of 50m at 5.6g/t AuEq extends strike of high-grade mineralisation at Medenovac prospect to 150m long
Resource estimate expected at satellite deposit in 2025

Special Report: Strickland Metals’ decision to take the path less travelled in Serbia is looking better by the day, as the ASX gold junior struck a spectacular intercept outside its 5.4Moz gold equivalent Rogozna resource.

The drill hit at Medenovac of 365.8m at 2g/t AuEq from 198.4m contains narrower intercepts of 19.8m at 2.8g/t from 333m, 24m at 3.6g/t from 468.2m and the piece de resistance, a 50m section at 5.6g/t AuEq from 271.5m downhole.

Then drink this fact in: Medenovac doesn’t even have a resource yet, so the benefits here are all on top of the existing Rogozna bounty, already big enough to have an ASX explorer shouting rounds at the Gold Bar if it were found in the backblocks of Kalgoorlie.

Overall, the intercept calculates out at 728 gram-metres on a gold equivalent basis, the third best hit in the broader Rogozna project.

High-grade mineralisation at Medenovac now has a strike-length of around 150m with the high grade core extending 60m along strike to the south-east where an historical drill hole struck 97.7m at 5.1g/t AuEq within a broader zone of 352.1m at 2.1g/t AuEq from 240.2m.

An initial mineral resource is due in early 2025, with four rigs funded from Stricklands’ (ASX:STK) $48.7m war chest continue to drill across Rogozna.

There’s more to come from the current drill program. Pic: STK

Balkan paradise

STK shifted focus to Serbia after nabbing $61m in cash and shares ($41m in the hard stuff) through the sale of its Millrose project in WA’s Northern Goldfields to Northern Star Resources (ASX:NST) in June last year.

Since September last year its shares have lifted over 56%, with strong drill hits at its Horse Well project in the WA Goldfields followed in April by the Rogozna deal.

Rogozna on purchase contained 2.96Moz of gold, 214,000t of copper and 364,000t of zinc in the globally significant Tethyan Metallogenic Belt, home to a swag bag of the world’s biggest mining companies.

That provides a platform to turn the project into one of the largest undeveloped gold assets globally, a point driven home by the Medenovac drill hits.

“It’s a testament to the quality of our team in Serbia that, within the first few months of exploration under the Strickland banner, we have delivered two of the best three drill intercepts ever encountered at the Rogozna Project,” Strickland managing director Paul L’Herpiniere said.

“These latest results, from ongoing drilling at the Medenovac Prospect, are crucial as they provide further evidence that the core of the deposit hosts a significant body of high-grade mineralisation.

“This hole was drilled ~60m along strike to the south-east of historic hole ZRSD21136 – which hit 97.7m at 5.1g/t AuEq within a broader 352.1m mineralised zone – and was aiming to extend the >300m thick body of gold, copper and zinc mineralisation that was encountered in that earlier hole.

L’Herpiniere says the mineralisation remains open along strike and at depth. It’s not the only prospective target on STK’s radar.

Impressive gold, copper and zinc accumulations have been spied both via assay and in visual observations. Pic: STK

Assays are still pending for an updip hole at Medenovac, with a third due to start in the coming weeks.

“We have recently completed a follow-up hole to ZRSD24157, with ZRSD24159 drilled up-dip and to the east, with assay results expected in coming weeks,” he said,

“In addition, we have several holes from ongoing drilling at the 4.6Moz AuEq Shanac deposit currently undergoing analysis at the lab, including two holes that were drilled as a follow-up to the spectacular intersection of 89.7m at 4.0g/t Au in ZRSD241494 .

“We look forward to updating the market with these further results as they come to hand.”

On a more granular basis, the 365.8m hit contains 0.8g/t gold, 0.2% copper, 1.3% zinc, 0.1% lead and 5.9g/t silver.

The 50m interval grades even higher at 2g/t gold, 0.6% copper, 4.4% zinc, 0.1% lead and 11.7g/t silver, with the first 18m at 3.3g/t gold, 0.9% copper and 8% zinc.

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.