Strickland Metals (ASX:STK) Soars on Major Gold-Copper-Silver Discovery at Serbian Rogozna Project

2 min read | August 22, 2024 11:06 AM AEST | By Team Kalkine Media

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Strickland Metals (ASX:STK) Soars on Major Gold-Copper-Silver Discovery at Serbian Rogozna Project — Image source: shutterstock

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Strickland Metals (ASX:STK) saw its shares surge over 4% in early trading on Thursday after announcing a significant copper-gold drill intercept spanning 308.4 meters at its Rogozna Project in Serbia. This marks the second drill hole targeting the Shanac deposit, a key area within the broader project.

The intercept, which began at a depth of 300 meters, returned grades of 0.7g/t gold, 0.2% copper, and 6.6g/t silver, averaging 1.9g/t gold equivalent (Au Eq). The company noted that the intercept included some internal waste, with mineral grades varying along the core length.

Strickland Metals views this result as further validation of its geological model, particularly suggesting that the Central Domain of the Shanac deposit may host higher-grade mineralization compared to surrounding areas.

Currently, six drill rigs are active at both the Rogozna Project and Strickland’s Yandal Project in Western Australia, with additional assay results expected soon. The company remains well-funded, with $48.7 million in cash and shares.

Managing Director Paul L’Herpiniere highlighted the significance of the findings, stating: “These latest results from ongoing drilling at the 4.6Moz Au Eq Shanac deposit provide further support of our strategy to target the higher-grade mineralisation zones within the Central Domain.”

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