Strickland spins rods for Yandal gold hunt

A 2nd drill rig has rolled onto Strickland Metals’ Yandal task successful Western Australia’s Eastern Goldfields portion to people high-grade golden intercepts from past year’s reconnaissance air-core (AC) drilling programme that pulled up 39m averaging 6.1 grams per tonne, including a 7m halfway moving astatine 22.2g/t of the precious yellowish metal.

The quality comes blistery disconnected the process of the company’s revelation yesterday that it has entered the lucrative Serbian golden crippled aft shelling retired $37 cardinal to nab the Rogozna task that already boasts a whopping assets of 5.44 cardinal JORC-compliant ounces of golden equivalent.

An RC rig has started drilling astatine Strickland Metals’ Yandal project, with a 2nd diamond rig besides arriving connected site.

With $54 cardinal successful currency and Northern Star shares successful its coffers pursuing the savvy merchantability of its Millrose task past year, Strickland is successful a steadfast presumption to aggressively prosecute some projects – and is rapidly getting astir doing conscionable that.

‘After our important acquisition announcement yesterday, we are pleased to denote that our Yandal programs are continuing.’

A reverse-circulation (RC) rig arrived astatine the Yandal tract past week and has already plugged respective pre-collars successful mentation for the accomplishment of the diamond rig. Both rigs volition stay connected tract good into the 2nd fractional of this twelvemonth to plunge astatine slightest 10,000m into a clutch of prospects successful the Horse Well golden camp.

And the institution is gearing up to support the rods spinning to travel up connected what it expects volition beryllium important results.

Strickland Metals president Anthony McClure said: “After our important acquisition announcement yesterday, we are pleased to denote that our Yandal programs are continuing arsenic primitively planned.”

The archetypal people disconnected the fertile is the Palomino-Clydesdale inclination wherever the RC drill rig volition absorption connected defining high-quality oxide resources, portion the diamond rig volition probe extent extensions for high-grade lodes. Palomino and Clydesdale are thought to beryllium portion of a bigger combined mineralised system, with Clydesdale being a splay disconnected the main Palomino structure.

Previous drilling astatine Palomino scored a 17m intercept going 4.6g/t golden from 89m that included 7m moving 10.2g/t gold, portion a 2nd spread bored done 25m going 3.8g/t golden from 140m including 6m astatine 13.6g/t gold. Current geological modelling suggests the main Palamino mineralised shear operation continues for astatine slightest 400m past the existent golden assets envelope.

The diamond rig has a follow-up booking astatine the Bronco-Konik imaginable wherever the company’s erstwhile effort with the drill spot highlighted the imaginable for important bulk-tonnage mineralisation.

Interestingly, the Konik find spread that delivered 58m averaging 1.7g/t golden from lone 17m downhole has since been linked up to historical drilling astatine the Bronco prospect, which deed heavy shallow zones of 79m astatine 1g/t golden from 10m and a further 95m astatine 0.7g/t. Gold mineralisation on the Bronco-Konik inclination remains tantalisingly unfastened some on onslaught and astatine depth.

Several different targets are besides scheduled for follow-up RC drilling, including the Warmblood-Filly South and Marwari prospects. Additionally, respective lines of RC drilling are planned astatine the Great Western imaginable wherever the institution intersected important intrusive-related geochemical signatures prospective for golden successful drilling past year.

To date, Strickland has etched retired a combined mineral assets estimation for the Horsewell golden campy of 2.23 cardinal tonnes astatine a people of 2.07g/t golden for 148,000 ounces. The institution is aiming to summation that tally arsenic the rigs proceed to plumb the depths of the golden system.

Investors are responding favourably to the dependable travel of quality from the company, with the stock terms bouncing from 8.4c precocious past period to a precocious of 14.5c successful yesterday’s trade. With 2 rigs spinning, marketplace meerkats volition nary uncertainty beryllium paying attention, with plentifulness much quality successful the company’s pipeline.

Is your ASX-listed institution doing thing interesting? Contact: mattbirney@bullsnbears.com.au

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