Watch out gold discoveries, Strickland’s comin’ for ya. Pic via Getty Images.
Strickland looks to squeeze all the juice out of Marwari discovery after spectacular 31m at 5.6g/t gold hit
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- ‘Aggressive’ RC drilling has commenced across an initial 300m of the mapped 700m strike at the Marwari gold discovery
- One hole drilled, four remaining
- Strickland remains extremely well funded after the sale of its Millrose gold deposit to Northern Star Resources for $61m
With one hole down and four to go, Strickland Metals is committing RC and diamond drill rigs to its Marwari gold discovery, where it hit a spectacular 31m @ 5.6g/t Au.
Strickland Metals (ASX:STK) is on a tear ever since it sold its Millrose gold project to Northern Star Resources (ASX:NST) for a whopping $61m.
STK is now laser-focused on squeezing as much as it can out of its underexplored Horse Well gold project in the prolific Yandal greenstone belt. In September, it discovered Marwari, which could potentially host a very significant gold deposit.
Drilling plans at Marwari
Since first drilling into Marwari and intersecting gold, STK has used a number of AC holes to the north and south of the HWAC1472, as well as magnetic inversion modelling, to identify the size and structure of the gold mineralisation.
However, the explorer reckons it’s only just scratched the surface. The drillbit is spinning again with a five-hole program to test across and down dip of the identified 700m Marwari strike.
Those five holes will test across an initial 300m, targeting the peak of the magnetic inversion with one hole already complete.
“The hole was initially planned to a target depth of 180m, however, we decided to continue the hole for a further 111m to a total depth of 291m,” STK MD Andrew Bray says.
MWDD002 is currently being drilled 40m to the south of the lauded HWAC1472 Marwari discovery hole.
Holes 3-5 are about to commence, with an RC rig already at site ready to go.
“Strickland has elected to commit both rigs to drilling at Marwari for the immediate future. Additional high-priority targets at Great Western and Rabbit Well, amongst others, are still planned for initial testing before the end of the 2023 calendar year,” Bray says.
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.
