Fifth Rig Commences as Strickland Accelerates Exploration at Rogozna's 7.4Moz Gold Project
Strickland Metals (ASX: STK) has ramped up its exploration at the Strickland Metals Ltd Rogozna Project in Serbia, with a fifth diamond drill rig now operational and targeting the promising Obradov Potok prospect. This development comes as the company executes what it describes as "the largest-ever exploration program" at the 7.4 million ounce gold equivalent (AuEq) project.
Major Exploration Campaign Gaining Momentum
The company's aggressive 2025 drilling campaign is now operating at full capacity across multiple targets:
• Two rigs focused on expanding the substantial 5.3Moz AuEq Shanac Deposit
• One rig testing the Red Creek Prospect, located just 500m west of Shanac
• One rig operating at the gold-dominant Gradina deposit
• The newly arrived fifth rig targeting Obradov Potok
• A sixth rig scheduled to commence drilling in the coming weeks at the Jezerska Reka porphyry target
This multi-target approach demonstrates Strickland's confidence in the project's potential for significant resource growth beyond its already impressive 7.4Moz AuEq resource base.
Strickland's Managing Director, Paul L'Herpiniere, highlighted the significance of the Obradov Potok target: "This is an extremely large target area, with a similar-scale geochemical footprint as seen at both the Shanac and Medenovac mineralised systems, where we have Inferred Mineral Resource Estimates of 5.30Moz and 1.28Moz AuEq respectively."
Obradov Potok: A Target With Significant Scale
The Obradov Potok prospect presents compelling exploration characteristics:
• ~2.5km x 2km multi-element geochemical anomaly identified through systematic exploration since 2020
• Anomalous levels of gold, arsenic, copper, molybdenum, silver, lead, and zinc in soil samples
• Recent ground geophysics (induced polarisation and gravity surveys) completed in 2024 revealed multiple shallow chargeability and density anomalies
• Similar footprint to the established Shanac and Medenovac deposits, suggesting potential for a significant mineral system
The large scale of this target makes it particularly interesting for investors tracking Strickland's progress, as a discovery here could significantly add to the company's already substantial resource inventory.
Understanding Induced Polarisation (IP) Surveys in Mineral Exploration
Induced polarisation (IP) is a geophysical imaging technique used to identify subsurface materials based on measuring electrical chargeability.
In simple terms, an IP survey passes an electrical current into the ground and measures how certain materials hold that charge temporarily. Sulfide minerals (often associated with gold and base metals deposits) typically generate strong IP responses due to their electrical properties.
When explorers identify IP chargeability anomalies that coincide with surface geochemical anomalies (as seen at Obradov Potok), it significantly increases confidence in a target by providing multiple layers of evidence pointing to potential mineralisation at depth. These corroborating indicators help companies prioritise drill targets and improve the probability of discovery success.
Rogozna Project: Building on a Strong Resource Foundation
Strickland's exploration at Strickland Metals Ltd Rogozna Project already boasts an impressive resource base:
| Prospect | Resource (AuEq) | Gold (Moz) | Key Characteristics |
|---|---|---|---|
| Shanac | 5.30Moz | 3.09 | Large-scale system with 150Mt at 1.1g/t AuEq |
| Medenovac | 1.28Moz | 0.52 | 21Mt at 1.9g/t AuEq with strong zinc credits |
| Copper Canyon | 0.81Moz | 0.36 | 28Mt at 0.9g/t AuEq with significant copper |
| Total | 7.40Moz | 3.97 | 199Mt at 1.2g/t AuEq |
What makes the Rogozna Project particularly attractive is its polymetallic nature, containing significant copper, silver, lead, and zinc credits in addition to gold. The current resource contains 320kt of copper, 32.2Moz of silver, and 830kt of zinc, providing valuable by-product potential in any future development scenario.
Financial Position and Forward Momentum
Strickland remains well-capitalised to fund its ambitious exploration program, with $33.8 million in cash and Northern Star Resources (ASX: NST) shares as of December 2024. This strong financial position allows the company to maintain an aggressive drilling pace throughout 2025 without near-term funding concerns.
The 2025 program represents the most extensive exploration at Strickland Metals Ltd Rogozna Project ever conducted, with Strickland's technical team leveraging historical data and recent successes to target multiple prospective areas simultaneously.
Why Investors Should Track Strickland's Progress
Strickland Metals presents a compelling investment narrative for several key reasons:
1. Scale of the project: The 7.4Moz AuEq Rogozna Project already ranks as a significant gold and base metals resource, with substantial growth potential.
2. Exploration momentum: With five rigs currently operating and a sixth coming online soon, Strickland is executing one of the most aggressive exploration at Strickland Metals Ltd Rogozna Project programs among ASX-listed juniors.
3. Multiple target strategy: Rather than focusing on a single prospect, the company is simultaneously advancing several promising areas, increasing the likelihood of meaningful discoveries.
4. Strong balance sheet: With $33.8 million in cash and liquid assets, Strickland has sufficient funding to maintain its accelerated exploration program throughout 2025.
5. Polymetallic potential: The project's gold, copper, silver, lead, and zinc content provides exposure to multiple commodities and potential economic resilience.
With significant exploration results expected throughout 2025 as the drilling program progresses, Strickland represents an active exploration story with regular news flow and multiple opportunities for resource growth and new discoveries across the Rogozna Project.
Are You Ready to Invest in Serbia's Largest Gold Exploration Program?
Discover how Strickland Metals is accelerating exploration across its 7.4Moz gold equivalent Rogozna Project with five diamond drill rigs now operational and a sixth on the way. With a well-funded treasury of $33.8 million and multiple high-potential targets being tested simultaneously, Strickland offers investors exposure to one of the most aggressive exploration campaigns in the region. To learn more about this compelling investment opportunity and stay updated on the company's progress as they target significant resource growth, visit Strickland Metals' website.
