Drilling at Strickland’s Millrose gold project on Western Australia’s highly prospective Yandal Greenstone Belt continues to deliver the goods with the discovery of a new high-grade lode.
Hole MRRC226D discovered the new Wanamaker high-grade lode after intersecting a 7.9m zone grading 7 grams per tonne (g/t) gold from a down-hole depth of 138.9m.
This intercept is 40m down-dip from a previous intersection of 8m at 4g/t gold from 104m which is interpreted by Strickland Metals (ASX:STK) to have discovered the lode.
Wanamaker remains entirely open to the north and complements recently announced oxide mineralisation which connects the lode to the main Millrose resource of 6Mt at 1.8g/t gold for 346,000oz contained gold about 250m to the south.
Adding further interest, the oxide zone was also intersected above the new lode by hole MRRC230D, which returned a result of 19m at 2.4g/t gold from 117m.
It also comes just days after the company’s step-out drilling intersected high-grade plunging gold mineralisation.
“Confirmation of a new, high-grade lode to the north of the main Millrose Mineral Resource is a very exciting step forward for the company. Continuity of width across the holes to date, with apparent increase in grade at depth, is a very positive development for Wanamaker,” chief executive director Andrew Bray said.
“Geophysics data mapping the BIF unit (the key marker horizon for the gold mineralisation) suggests mineralisation will extend further northward.
“Drilling is currently being designed to target both further fresh rock mineralisation along strike, as well as additional shallow oxide mineralisation.”
Growing gold resource potential
The latest discovery – and others made in recent months – adds further support to the company’s goal of increasing confidence in the existing Millrose Resource, making further discoveries along strike from known mineralisation, extending mineralisation at depth, and targeting further shallow oxide mineralisation.
Strickland noted that mineralisation at Wanamaker remains open to the north, where no drilling has occurred to date.
It is planning to address this with a drill program to test for northerly and depth extensions on a 20m step-out basis. All work will feed into an updated resource to be released during 2023.
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This article was developed in collaboration with Strickland Metals (ASX:STK), 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.