Strickland Metals onto a ‘very large’ gold system at Millrose following gold hit
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Mineralisation at Millrose, located on the northeast flank of the Yandal Belt, has now been defined over 300m in strike.
Assays from four diamond drill holes have returned impressive grades and widths such as 59m at 1.9 g/t gold from 141m, including 9m at 3.1g/t gold from 141m and 57.1m at 1.3g/t gold from 109.9m, including 12m at 2.4g/t gold from 127.4m from holes MRDD006 and MRDD005 respectively.
These two holes are of a “higher tenor” than expected, Strickland Metals (ASX:STK) says, given proximal historical intersections.
Other highlights include 25.5m at 1.6g/t gold from 125m in hole MRDD009 and 27m at 1.7g/t gold from 148m from hole MRDD003.
Mineralisation at Millrose North has now been defined over 300m in strike (within the broader 13km structure) and entirely open at depth and along strike.
STK CEO Andrew Bray said the continuity of both grade and width is particularly notable, as it continues to confirm the company’s belief that Millrose is a part of a very substantial gold system.
“Visual observations from the drilling to date suggest the gold bearing structures remain intact to the north and south – areas which lie outside of the current resource area.
“Assays are expected from these areas over the coming month,” he said.
“The higher-grade intersection, previously reported in MRDD008 (8.1m at 14.6g/t gold from 216m, the deepest intersection to date), is interpreted to plunge just below the zone of mineralisation from diamond hole MRDD006.
“Further drilling is required to map this zone of high-grade mineralisation down plunge.
“Also of particular importance is the ongoing robustness of our geological model, which is again confirmed by these results.”
A magnetic survey is currently underway to provide greater definition of a previously identified BIF unit, which will allow for more accurate drill target testing of the 13km main mineralised shear structure along strike.
While Strickland is experiencing longer than anticipated wait times for assays to be returned, the backlog is set to be cleared towards the end of June.
A third rig will be arriving at the project during July to focus on drilling the northern and southern extensions to the existing Millrose gold mineralisation.
It also offers STK the flexibility to conduct small regional exploration programs while awaiting gold assays from Millrose, including to potentially follow up the zinc-lead mineralisation at Iroquois as well as the surrounding areas at Dusk til Dawn.
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.