Strickland Metals Intensifies Exploration at 7.4Moz Rogozna Gold Project

Strickland Metals Accelerates Exploration at 7.4Moz Rogozna Gold Project

Strickland Metals (ASX: STK) has significantly ramped up exploration activities at its 100%-owned Rogozna Gold and Base Metals Project in Serbia, deploying a fifth diamond drilling rig as part of what the company describes as "the largest-ever exploration program" at the 7.4 million ounce gold equivalent (AuEq) project.

Fifth Drilling Rig Targeting Obradov Potok Discovery Potential

The newly deployed fifth diamond rig has commenced drilling at the highly prospective Obradov Potok target, a prospect characterized by promising early indicators:

• A substantial ~2km x 2km zone of multi-element geochemical anomalism
• Induced polarisation (IP) chargeability anomalies at shallow depths
• Visible outcropping hydrothermal alteration

What makes Obradov Potok particularly compelling is the scale of its geochemical footprint, which Strickland reports is similar in size to its established Shanac (5.30Moz AuEq) and Medenovac (1.28Moz AuEq) deposits.

Managing Director Paul L'Herpiniere emphasized the significance of this target: "We are particularly looking forward to drilling at the Obradov Potok Prospect. This is an extremely large target area, with a similar-scale geochemical footprint as seen at both the Shanac and Medenovac mineralised systems."

Multi-Front Exploration Strategy

Strickland's comprehensive drilling campaign now features:

Understanding Chargeability Anomalies: Why They Matter

Chargeability anomalies detected by induced polarisation (IP) surveys are particularly significant indicators in mineral exploration. When minerals like copper sulfides or pyrite are present in the ground, they can store electrical charge briefly – similar to a capacitor. This property is measured as "chargeability."

High chargeability anomalies, like those identified at Obradov Potok, often indicate the presence of disseminated sulfide minerals, which frequently host gold and copper mineralisation in porphyry and epithermal systems. These geophysical signatures, combined with supporting surface geochemistry, represent high-priority drill targets that could lead to significant mineral discoveries.

IP surveys work by sending an electrical current into the ground and measuring how the subsurface materials respond. The technique is especially effective at identifying sulfide minerals, which are often associated with gold and copper deposits. The presence of chargeability anomalies at Obradov Potok suggests that the target area may contain concentrations of these important mineral-hosting sulfides.

The technical significance of these anomalies becomes even more compelling when they coincide with other exploration indicators, such as:

1. Surface geochemical anomalies – The presence of elevated gold, arsenic, copper, and other pathfinder elements in soil samples
2. Visible hydrothermal alteration – Changes to the original rock chemistry caused by mineral-bearing fluids
3. Structural features – Faults and fractures that could provide pathways for mineralising fluids

When multiple exploration techniques point to the same target area, as they do at Obradov Potok, it substantially increases the probability of discovering significant mineralisation during drilling.

Financial Position and Forward Timeline

Strickland reports it is "extremely well-funded" to execute its ambitious exploration program, with a strong balance sheet showing:

• $33.8 million in cash and Northern Star (NST) shares as of December 2024
• A sixth drilling rig scheduled to begin operations "in the coming weeks"
• Multiple drill holes planned at Obradov Potok throughout 2025

The Investment Thesis for Strickland Metals

Strickland's accelerated exploration at Rogozna presents a compelling investment case:

1. Established Resource Base: The project already hosts a substantial 7.4Moz AuEq resource across multiple deposits, providing a solid foundation.

2. Resource Growth Potential: The company's 2025 drilling campaign targets both resource expansion at known deposits and potential new discoveries at prospects like Obradov Potok.

3. Technical Merit: The company is following a systematic exploration approach, using multiple exploration techniques (geochemistry, geophysics, and drilling) to define targets.

4. Multi-commodity Exposure: The Rogozna project contains gold, copper, silver, lead, and zinc, offering investors exposure to both precious and base metals.

5. Strong Financial Position: With $33.8 million in funding, the company is well-capitalised to execute its extensive drilling program without immediate financing concerns.

Resource Breakdown by Deposit

The current 7.4Moz AuEq resource at Rogozna is distributed across three deposits:

1. Shanac Deposit – 5.30Moz AuEq (150Mt @ 1.1g/t AuEq)

   • Including 3.09Moz gold, 180kt copper, 28.0Moz silver, 360kt lead, and 510kt zinc

2. Medenovac Deposit – 1.28Moz AuEq (21Mt @ 1.9g/t AuEq)

   • Including 0.52Moz gold, 57kt copper, 4.3Moz silver, 23kt lead, and 320kt zinc

3. Copper Canyon Deposit – 0.81Moz AuEq (28Mt @ 0.9g/t AuEq)

   • Including 0.36Moz gold and 84kt copper

The multi-mineral nature of these deposits highlights the diversified commodity exposure that Strickland offers investors, with significant quantities of gold, copper, silver, lead, and zinc within the existing resource.

Exploration Methodology at Obradov Potok

Strickland's systematic approach to exploring Obradov Potok follows exploration best practices:

1. Initial Discovery – The prospect was first identified through stream sediment sampling in 2020

2. Surface Sampling – Follow-up soil sampling in 2021 and 2022 defined the ~2.5km x 2km multi-element geochemical anomaly

3. Geophysical Surveys – Ground geophysics completed in 2024 included IP and gravity surveys, highlighting multiple chargeability and density anomalies

4. Target Refinement – The combined dataset has generated multiple specific drill targets

5. Current Phase – Diamond drilling has now commenced to test these targets

This methodical approach to exploration reduces risk by using each stage of work to refine and validate targets before committing to expensive drilling programs.

Why Investors Should Keep Strickland on Their Radar

Strickland Metals represents an advanced exploration opportunity with significant potential for near-term catalysts. The company's aggressive five-rig (soon to be six-rig) drilling campaign targeting multiple prospects simultaneously increases the probability of meaningful discoveries in 2025.

The Obradov Potok target is particularly noteworthy given its scale and similarity to the company's established multi-million-ounce deposits. With each of the existing Rogozna deposits (Shanac, Medenovac, and Copper Canyon) already delivering substantial resources, the addition of another deposit of similar scale would significantly enhance the project's overall economics.

For investors seeking exposure to gold and base metals exploration with an established resource base, strong financial position, and multiple near-term catalysts, Strickland Metals offers a compelling opportunity to watch as its ambitious 2025 exploration at Strickland Metals Rogozna project unfolds.

Ready to Discover Your Next Gold Investment Opportunity?

Strickland Metals is rapidly advancing its 7.4Moz Rogozna Gold Project with an unprecedented five-rig exploration campaign targeting significant resource expansion. With a strong balance sheet of $33.8 million, promising targets like Obradov Potok showing similar footprints to established multi-million-ounce deposits, and a systematic exploration approach, Strickland offers a compelling investment case in the gold and base metals sector. To learn more about this ambitious exploration programme and potential investment opportunity, visit Strickland Metals' website for the latest updates and investor information.