Thick gold hits has Shanac nailed on as Strickland’s cornerstone deposit at Rogozna

Three diamond holes hit more than 500m of continuous gold at Shanac
Four rigs continue to spin across Rogozna deposits
Strickland remains extremely well funded, with $48.7m in cash and NST shares from Melrose sale

Special Report: Thick gold hits at Strickland Metals’ cornerstone 4.6Moz Shanac deposit at the Rogozna gold project in Serbia have found >500m of continuous mineralisation.

Assays are back from drilling of three new diamond drill holes targeting the central domain of Strickland Metals’ (ASX:STK) Shanac, with gold hits across a whopping 545.7m and at relatively shallow depths, with copper, zinc and lead base metals credits.

A highlight hit of 545.7m at 0.6g/t gold from 108.2m, including 102m at 1g/t from 243m was discovered at hole ZRSD24153, 355.7m at 0.7g/t from 189.5m intersected at hole ZRSD24154 and up to 4g/t gold found in hole ZRSD24156.

In gold equivalent (AuEq) terms:

545.7m at 1.1g/t AuEq from 108.2m, including 102m at 1.7g/t AuEq from 243m, including 30m at 2.4g/t AuEq from 253.0m in ZRSD24154. Also, 21m at 2.6g/t AuEq from 367m, and 61.4m at 2g/t AuEq from 553.2m, including 33.2m at 2.8g/t AuEq from 553.2m.
355.7m at 1g/t AuEq from 189.5m, including 41.7m at 2.4g/t AuEq from 436.5m in ZRSD24154.
And 65.8m at 1.1g/t AuEq1from 281.4m, including 9.2m at 4.1g/t Au from 336m, and 175.7m at 0.9g/t AuEq from 381.6m, including 30m at 1.7g/t AuEq from 456m.

Importantly, the direction of mineralisation is completely open heading north and highlights resource expansion potential.

STK says the higher-grade mineralisation zones encountered in these holes are hosted within the central structural domain, in proximity to major NW-trending quartz-diorite dykes, “which is consistent with our updated geological model”.

To the southern part of the deposit, strong gold mineralisation also occurs in proximity to the contact between the skarn and overlying andesitic volcanics.

Shanac’s latest diamond hole locations at the Rogozna project. Pic supplied: (STK)

“Rogozna continues to deliver exceptional results, with further remarkable assays returned from recent drilling at the 4.6Moz Shanac deposit,” STK MD Paul L’Herpiniere said.

“With more than 500m of continuous gold and base metals mineralisation encountered in ZRSD24153, these latest results show that the mineralisation towards the northern end of the currently defined deposit remains completely open, highlighting the excellent potential to rapidly expand the resource at the project’s cornerstone deposit.

“This northern part of the resource has had the least amount of drilling which has, until now, restricted our understanding of the spatial distribution and tenor of the higher-grade mineralised zones in this part of the deposit.

“The higher-grade intercepts in these recent holes all sit within the previously identified central domain of the deposit.

“This is significant as it correlates with recent drilling and confirms that our updated geological model remains valid to the north, away from the greater concentration of previous drilling and more-recently announced results.”

Four rigs spinning at Rogozna

Shanac’s 4.6Moz gold equivalent deposit makes up the lion share of Rogozna’s current 5.6Moz mineral resource and the exploration results – as well ongoing drilling of the Medenovac and Gradina deposits will lead towards an updated resource estimate of the entire project.

Intensive resource expansion and exploration drilling program is continuing at Rogozna, with two rigs operating at Shanac, one rig operating at the Medenovac deposit and a fourth rig currently drilling at Gradina.

The mineral resource estimate is due out early next year, building on the 2.96Moz of gold, 214,000t of copper and 364,000t of zinc already contained within the project, mainly within the Shanac prospect.

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.