Strickland Metals has uncovered an intriguing new prospect at its Earaheedy joint venture project, which supports its belief that the discoveries to date are just the tip of the iceberg.

The new Malecite anomaly was first identified by geological mapping, which found outcropping gossan on the contact between the Iroquois dolomite and a chloritic siltstone unit – the same geological setting as the Iroquois prospect about 1.5km to the northwest.

Rock chip sampling of the gossan returned peak results of 7.3% lead, 0.5% copper, 4.8 grams per tonne (g/t) silver, 0.4% zinc and 25% manganese while trial induced polarisation surveying highlighted a 400m wide chargeability anomaly which is coincident with a gravity anomaly below the gossan.

Here’s where it gets exciting for Strickland Metals (ASX:STK).

Several other untested lookalike geophysical anomalies have also been identified proximal to Iroquois and Malecite, which lends credence to the company’s belief that Earaheedy hosts a Mississippi Valley-type (MVT) zinc-lead play.

MVT deposits typically form in ‘camps’ and the company’s work to date certainly seems to indicate that this is the case in this area.

“After promising initial results from a soil sampling program, subsequent geological mapping has identified outcropping base metal gossan,” chief executive officer Andrew Bray said.

“Results from this confirm that the zinc and lead is associated with copper, antimony, cadmium, silver, and bismuth, typical of basin base metal mineralisation. This new prospect has been named Malecite.

“Subsequent IP surveying was undertaken during the last fortnight, which has highlighted chargeability anomalies associated with both Iroquois and Malecite, as well as the feeder structures to the mineralisation. These coherent structures and promising geochemical anomalies will all be drill tested following native title heritage clearance.”

Upcoming activity

Neither Iroquois nor Malecite have been drill tested, but Strickland says it fully intends to rectify that in the near future.

Upon receipt of native title heritage clearances, it will temporarily relocate the third rig from its Millrose gold project to Earaheedy, where it will be used for a drill program to systematically test these targets.

 

 

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.

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