Strickland locks in tenure over eastern flank of the Yandal Belt

Strickland has completed the acquisition of Renegade’s interests in the Yandal East gold project ahead of its planned exploration campaign.

While the Yandal East tenements remain subject to a joint venture with Zebina Minerals, which is free carried for its 25% interest until mine development, the transaction consolidates the company’s tenure over the eastern flank of the Yandal Belt for the company.

Here’s why it matters. Despite hosting a number of major gold deposits such as Northern Star’s +10 million ounce (Moz) Jundee project and the 4Moz Bronzewing and 3.5Moz Darlot projects, the Yandal Belt remains significantly underexplored.

This potential is also why Strickland Resources (ASX:STK) also signed a binding term sheet last month to acquire the 346,000oz Millrose gold project from Millrose Gold Mines and Golden Eagle Mining.

Besides taking the company’s Yandal Belt resource base up to over 600,000oz of gold, it also consolidates the northeastern flank of the Yandal Belt.

“We are delighted to have concluded the acquisition of the Yandal East project, and I’d like to thank the team at Renegade for making the transaction straightforward and simple to conclude,” chief executive officer Andrew Bray said.

“We are very much looking forward to commencing exploration on the Renegade tenements in due course. We will provide an update to the market early next week on current and upcoming exploration programs.”

Yandal East gold project

The 320sqkm Yandal East project is immediately south of the company’s Horse Well gold project and about 30km due east of Jundee.

It adds about 60km of largely untested strike to the company’s tenure along the geologically significant Celia Shear zone, taking its total exposure over this zone to over 100km of strike.

This zone has remained largely untested due to metal depletion in the weathering profile as well as the lack of multi-element data which made much of the historical shallow drilling ineffective.

Upcoming activity

Strickland has noted previously that its immediate focus is infill drilling at the Big Daddy prospect within its Horse Well project.

Wide-spaced drilling by previous explorers at the prospect, which is located over the Celia Shear zone, has already identified several parallel gold structures including two trends over 8km and 7km.

Despite this, no reverse circulation drilling has been carried out on the project, an oversight that the company plans to rectify as soon as possible.

This article was developed in collaboration with Strickland Resources, 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.