Wide, high-grade intercepts AND visible gold have Strickland confident at Millrose
Strickland Metals has lauded assays from its Millrose gold project in WA’s Yandal Belt, where wide and high-grade mineralisation was intersected.
Strickland (ASX:STK) hit a standout 55m at 2.4 grams per tonne gold from 86m at the 100%-owned Millrose project, with intersects including 31m at 1.8g/t from 93m and 35.1m at 1.94g/t from 136m.
Meanwhile, visible gold was spotted in diamond hole MRDD011 – around 700m south of the assays reported today and outside the current resource area. The company said that drilling, in combination with the strong assays, was “creating a lot of confidence that Millrose represents a very substantial gold system”.
Strickland chief executive officer Andrew Bray was thrilled with the early results from Millrose, which is just 30km east of Northern Star Resources’ (ASX:NST) Jundee gold operation.
“It is very exciting that assays are beginning to flow from our 2022 drilling campaign,” he said.
“Even more exciting is the fact we are intersecting such wide, consistent zones of gold. The result in MRRC089 – 55m at 2.4g/t gold from 86m – is one of the most impressive assays to date out of all historic Millrose drilling.
“We also think there is strong potential for higher grade zones of mineralisation closer to surface.”
Bray said the identification of visible gold 700m south of today’s results was also key, and suggested mineralisation extended further than the current mineral resource at the project.
“Of more significance for the broader project is the fact that the gold-bearing structures appear to continue for at least 700m south of the assays reported today, as per the visual sighting of gold in MRDD011 and visual observations from RC drill chips and diamond core (assays pending),” he said.
“Additionally, RC drilling to the north of the existing resource appears to also show continuity of the gold bearing structures. These areas lie outside current resource calculations.
“The drilling we’ve conducted over the past couple of months has contributed enormously to our geological understanding of Millrose, to the point where the exploration team is growing increasingly confident about targeting and intersecting further ore zone extensions along strike.”
Millrose currently has a JORC compliant mineral resource of 6 million tonnes at 1.8g/t gold for 346,000 ounces of contained gold.
Today’s assays were reported from in and around the northern part of the Millrose resource, representing the first results from a broader 2022 drilling program.
Approximately 44 reverse circulation holes, including 22 with diamond tails and two diamond holes have been completed so far across the project.
The initial 16 – including the six from which results were reported today and a further 10 for which assays are pending – targeted the northern resource area.
Rigs were then relocated to the northern and central Millrose areas away from the existing resource, with eight holes drilled as part of a northern extension and 19 completed in the central portion of the project.
The company said drilling was proceeding very well in those areas, with most holes intersecting shear zones of varying widths and intensity of alteration.
“It’s going to be a very exciting few months for shareholders as assays continue to flow in from Millrose,” Bray said.
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.