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Highlights
- Resource estimate at Shanac Deposit now stands at 5.30Moz AuEq.
- Cost-effective resource growth achieved at A$3 per ounce.
- New 50,000-meter drilling campaign set to expand resources further.
Strickland Metals (ASX:STK) has recently updated the Mineral Resource Estimate for the Shanac Deposit within its Rogozna Gold and Base Metals Project in Serbia. The Shanac Deposit's resource now tallies at 5.30 million ounces of gold equivalent (AuEq), pushing the total resource for the Rogozna Project to 7.40 million ounces of AuEq. This significant update represents a 2 million ounces increase since acquiring the project in July 2024, reflecting a robust 15% growth in contained metals.
The improved resource model incorporates Multiple Indicator Kriging (MIK) methods and is designed around optimized sub-level cave underground mining stopes. This update leverages a conservative long-term gold price assumption of US$2,250 per ounce, aligning with current market expectations and enhancing the project's economic outlook.
The increase in resource quantity is also evident in the individual metal content, with a 17% rise in gold, a 38% increase in copper, and a 40% surge in zinc. This multi-metal enhancement underscores the deposit's diversified value and stability against market fluctuations in single commodities.
Paul L’Herpiniere, Managing Director of Strickland Metals, highlighted the strategic advancements made through the company's 2024 drilling program. The program aimed to refine the understanding of geological controls and the distribution of higher-grade mineralization zones. A significant discovery was the central dyke, which now serves as a key geological marker within the deposit, surrounded by high-grade mineralization that has greatly improved the overall resource model.
For 2025, Strickland Metals is focusing on further defining the high-grade zones that deliver approximately 15,000 ounces per vertical meter at the core of the deposit. This includes new drilling efforts targeting the gold-rich skarn at the upper regions and additional exploration along the prospective volcanic-skarn interface.
Simultaneously, Strickland Metals has embarked on an ambitious 50,000-meter drilling campaign aimed at further expanding the resource base and exploring new targets within the Rogozna Project area. The forthcoming updates in late 2025 will include the first Mineral Resource Estimate for the high-grade Gradina deposit and further updates on the Shanac and Medenovac deposits.
Financially, Strickland Metals remains in a strong position to sustain its exploration endeavors, with $33.8 million in cash reserves and assets in Net Smelter Terms shares, ensuring the company's capability to pursue its strategic goals and bolster shareholder value through continued resource development and operational excellence.
