Strickland turning drilling dial up to 11 to target resource update at 346,000oz Millrose in 2022
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Strickland Metals is about to ramp up the pace of drilling at its flagship Millrose gold project and set the volume to 11 with a third drill rig drafted in to drill out the 346,000oz gold deposit.
Strickland (ASX:STK) plans to have a mineral resource update out by the end of 2022, adding to its bounty of 6Mt at 1.8g/t for 346,000oz.
It will do that via a major 23,000m RC and diamond drill program already underway at Millrose.
Plenty of hard work is already in the books. An initial 12 RC pre-collars and two diamond holes have been completed as well as 45 short RC holes into the shallow laterite gold zone in the Millrose resource as part of an 84-hole resource drill out program.
Those resources are important, because they lie to a depth of just 20m, providing quick upfront cash flow in future mining scenarios.
The RC rig will move on to target strike extensions to the north and south of Millrose once that initial laterite drilling program is done next week.
But Strickland is not resting on its laurels. With an RC and diamond drill rig already secured for the entirety of 2022, a third rig is expected to be added next month to keep the tempo of drilling high.
“We’re extremely excited to be underway with our planned programs at Millrose,” Strickland CEO Andrew Bray said.
“Millrose is our flagship asset and number one priority at our Yandal gold project.
“High-grade gold mineralisation is open in virtually every direction, with the current program being designed to bring more of the known mineralisation into an expanded Mineral Resource.
“Proximal exploration is also likely to yield the discovery of further gold mineralisation.”
Millrose is one of the best placed gold deposits strategically in WA, given its sizeable resource sits just 30km from the 10Moz Jundee gold mine and mill owned by Northern Star Resources, Australia’s second largest gold miner.
It is located in a fertile zone at the southern end of Strickland’s tenement holding on the Yandal Belt, a prolific gold domain responsible for tens of millions of ounces of historic gold mining.
The reported resource at Millrose is part of a larger mineralised zone defined by RC, aircore and limited diamond drilling stretching over a strike length of at least 2km, remaining open along strike and at depth.
A gap between the northern and southern zones of the resource has only been defined by aircore drilling so far and was not defined in the previous resource estimate.
That gives a sense of the upside on offer from the current drilling program.
A diamond drill program consisting of 18 holes for 3500m has started initially focused on the Millrose North target, which is typically higher grade and open at depth.
Strickland is planning to reduce the drill density of the resource area to 20m by 20m in zones of elevated mineralisation, model structural and weathering controls on the distribution of the gold mineralisation, and carry out bulk density testwork.
It will also assess the quality of historical drill data with twinned holes, all critical steps in taking the resource through to development.
The initial laterite drill out which is over half complete will test a shallow and coherent zone of mineralisation above 1g/t over a 300m strike that could be an early payday in a development scenario thanks to its ~20m depth.
The initial program has been designed on a 40m by 20m grid to define its extent with a second phase planned pending the results to a 20m by 20m grid to enable a first pass laterite resource.
Meanwhile a program of 14 holes for 3000m have been planned to test primary mineralised structures representing 3km of prospective strike to the north and south of the existing resource where historic aircore drilling identified shallow, significant gold mineralisation.
The program will be undertaken on 90m north-south spacings with infill and extensional RC and diamond drilling to follow if successful.
“Importantly, historic aircore drilling has intersected the same shallow oxide mineralisation as we see above the existing fresh-rock resource, and various geophysical datasets suggest continuity of the primary gold-bearing structure,” Bray said.
“Drill out of the ‘gap’ in between the Millrose North and Millrose South will also be included. The RC and diamond rigs have both been secured for the entirety of 2022.
“A third rig is expected to be added next month, with the focus being on both resource drilling as well as regional exploration.”
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.