Strickland grows Millrose footprint, confident a ‘very large gold system’ is emerging
Strickland Metals says the mineralisation footprint at its Millrose gold project in WA has grown along strike and at depth.
The latest assay results from the project include:
It’s the first time this high-grade depth extension lode has been intersected at the project.
Notably, the project is around 30km of Northern Star Resources’ (ASX:NST) large Jundee gold operation and the company says results continue to highlight an emerging, large gold system.
“Millrose is continuing to deliver fantastic results and, importantly, grow the mineralisation footprint,” Strickland Metals (ASX:STK) CEO Andrew Bray said.
“Our initial drilling is demonstrating that we are indeed dealing with a very large gold system.
“The northern extension drilling has intersected the same primary lode 50m to the north of the current resource area, while the first hole targeting depth extensions yielded a very exciting 8.1m at 14.6g/t Au from 215m within a broader mineralised envelope.”
Bray says the banded iron formation (BIF) unit in the footwall is continuing to be a key marker horizon for the interpreted ore zone.
“Previous magnetic surveys highlight this BIF unit extending for over 8km, with a further 5km offset extension to the north,” he said.
“This means we have potentially a 13km gold mineralised structure to continue testing.
“We’re expecting the mineralisation to both dilate and pinch-in along strike throughout the 13km, with future resource drilling to focus on areas of dilation and high-grade depth extensions.”
The Millrose project currently hosts a reported JORC compliant Mineral Resource of 6mt at 1.8g/t gold for 346,000oz contained gold.
To expedite the planned drilling of the shear zone along strike, the company plans to add an additional RC rig next month.
And a planned 700m diamond hole will commence shortly testing for further extensions under the current mineral resource.
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.