Strickland Metals Ltd (ASX:STK) has been busy at the 100%-owned Yandal Gold Project in Western Australia and at its newly acquired Rogozna Project in Serbia with further activity planned.
Strickland has dispatched core from the first diamond holes at Yandal at which it is undertaking an Induced Polarisation (IP) survey and also has four diamond rigs arriving at Rogozna ahead of the planned commencement of drilling in June.
The company notes that it remains "extremely well-funded" to advance exploration at both the Yandal and Rogozna projects, with cash and Northern Star Resources (ASX:NST) shares totalling approximately $54 million at the end of the December quarter.
Yandal Gold Project
Reverse circulation (RC) and diamond drilling continues at Strickland’s Yandal Project. The first three diamond holes have been dispatched to the laboratory, with assays expected to be released in mid-June.
Additionally, an IP survey crew arrived on site last week and commenced surveying at the project’s Palomino prospect.
Strickland chairman Anthony McClure said: “The first three diamond holes at our Yandal project, which were all drilled at the Palomino prospect, have just been dispatched to the laboratory.
“Two holes were drilled into the existing mineral resource in order to gain important structural information, with the third hole targeting extensions to mineralisation. Assays are expected to be released around mid-June.
“An IP crew arrived on site last week and commenced a 3D survey at Palomino. Consequently, the diamond rig has moved to the Bronco prospect while the survey is ongoing. Several other prospects, including Bronco, will also be subject to IP surveys while the crew is on-site.
Rogozna Gold Project
At the large-scale Rogozna Project in the globally significant Tethyan Metallogenic Belt in Serbia Strickland recently announced a transaction to acquire.
The company advises that two holes recently drilled at Rogozna have just been sent for assaying with assays expected back in early June.
Rigs will begin arriving at Rogozna in June with four diamond rigs scheduled.
McClure said: “Strickland has been advised by Ibaera Capital that two recent holes have been sent for assaying at the Rogozna project.
"Both holes were drilled at Medenovac, ZRSD21147 to 590.5 metres and ZRSD21148 to 533.9 metres. This drilling is in follow-up to spectacular results previously reported. Assays are expected in early June.
“Planning is also well underway for drilling to begin at Rogozna, with four diamond rigs scheduled to commence arriving in early June, meaning Strickland will have six rigs operating across its two flagship projects. Further updates will be provided shortly.”