Strategic Exploration Program Targets World-Class Potential
Strickland Metals (ASX: STK) has launched an ambitious exploration program targeting large-scale porphyry copper-gold mineralisation at its 7.4Moz AuEq Rogozna Project in Serbia. The company has commenced drilling at the Jezerska Reka Copper-Gold Porphyry target while simultaneously initiating comprehensive ground geophysics surveys designed to identify additional porphyry targets beneath volcanic cover.
The current exploration phase builds on previous drilling success that encountered extensive porphyry-related veining and alteration on the fringe of what appears to be a significant porphyry system. With $34.8 million in cash and liquid assets as of March 31, 2025, bolstered by an additional $5 million strategic investment from Zijin Mining, the company is exceptionally well-funded to pursue this promising opportunity.
"The team is excited to have kicked-off a new campaign of exploration targeting porphyry-hosted copper gold at Rogozna," said Paul L'Herpiniere, Strickland's Managing Director. "Since the discovery of the large-scale Jezerska Reka porphyry system in 2023, we have been eager to unravel the prospective geology and make the kind of world-class discovery that Serbia is renowned for."
Jezerska Reka: Following the Geological Breadcrumbs
Strickland's exploration at Jezerska Reka has methodically built evidence supporting the presence of a significant porphyry system:
• The maiden drill-hole, ZRJD23001, encountered extensive alteration and porphyry veining throughout, including 92.0m @ 0.4g/t Au from 484.0m
• A second hole, ZRJD24002, intersected porphyry-style mineralisation from relatively shallow depths, returning 493.0m @ 0.14g/t Au from 223.6m
• Global porphyry expert Professor David Cooke confirmed these holes were drilled on the fringe of a porphyry-alteration system
The current drill hole, ZRJD25003, targets what's believed to be the centre of the porphyry system, associated with the strongest IP chargeability and resistivity low anomalism. This strategic positioning aims to intercept higher-grade mineralisation typical of porphyry core zones.
Hunting for "Blind" Deposits in the Central Porphyry Target Area
What makes Strickland's exploration approach particularly compelling is its focus on the Central Porphyry Target area, where younger volcanic rocks conceal potentially mineralised systems below. This exploration strategy mirrors approaches that have led to major discoveries globally.
To unlock this potential, Strickland has initiated:
• A detailed 50m x 50m ground gravity survey to map density contrasts
• A planned Magnetotelluric (MT) survey to map conductivity contrasts at depth
• Systematic geological mapping to refine drill targets
These techniques are designed to identify potential mineralisation signals beneath the volcanic cover that has masked these signals in traditional exploration methods.
Understanding Porphyry Systems: The Key to Billion-Dollar Deposits
Porphyry copper-gold deposits represent some of the world's most valuable mineral resources. These large, low-grade systems often contain billions of dollars worth of metals and can be mined economically due to their massive scale.
Porphyry systems typically form when large volumes of magma cool beneath the Earth's surface. As they cool, metal-rich fluids circulate through fractures in the rock, depositing copper, gold and other valuable elements. These systems display distinctive zoning patterns, with a central core of copper-gold mineralisation surrounded by alteration halos that extend outward.
Key characteristics of porphyry systems include:
- Large scale – often hundreds of millions to billions of tonnes of mineralised material
- Relatively low grades – typically 0.3-1.0% copper and 0.1-1.0 g/t gold
- Consistent mineralisation that can be economically extracted using bulk mining methods
- Distinctive alteration patterns that help geologists vector toward higher-grade zones
The extensive alteration and veining encountered in Strickland's previous drilling suggests the company may be on the edge of such a system, with the current drilling aimed at the potentially higher-grade core.
The Central Porphyry Target area shows particularly compelling indicators:
• It occupies the approximate centre of a roughly circular magmatic system
• Extensive skarn alteration "wraps around" the younger volcanic cover
• The major Skadar-Pec transform fault is interpreted to transect this area – a feature often associated with world-class deposits
Rogozna Project: A Growing Resource Base
The Rogozna Project already hosts a substantial mineral resource of 7.4Moz AuEq, comprising:
| Prospect | Tonnes (Mt) | AuEq (g/t) | Au (g/t) | Cu (%) | AuEq (Moz) | Au (Moz) | Cu (kt) |
|---|---|---|---|---|---|---|---|
| Medenovac | 21 | 1.9 | 0.77 | 0.27 | 1.28 | 0.52 | 57 |
| Shanac | 150 | 1.1 | 0.64 | 0.12 | 5.30 | 3.09 | 180 |
| Copper Canyon | 28 | 0.9 | 0.40 | 0.30 | 0.81 | 0.36 | 84 |
| Total | 199 | 1.2 | 0.62 | 0.16 | 7.40 | 3.97 | 320 |
The current exploration program could potentially add significant additional resources, particularly if the company successfully identifies and delineates new porphyry centres.
Geological Parallels to World-Class Systems
Strickland's technical team has identified compelling parallels between Rogozna's geological setting and world-class mineral systems. The spatial relationship between the Central Porphyry Target area and surrounding skarn alteration bears resemblance to the geometry of the supergiant Grasberg-Ertsberg complex in Indonesia, one of the world's largest copper-gold deposits.
This geological model, combined with the project's location in Serbia's prolific Tethyan Belt (host to numerous world-class copper-gold deposits), provides a strong conceptual framework for the current exploration program.
Upcoming Catalysts for Investors
For investors tracking Strickland Metals Rogozna exploration, several key catalysts are expected in the coming months:
• Results from the current Jezerska Reka drill hole (ZRJD25003)
• Completion of gravity and MT surveys in approximately three months
• Identification of multiple new targets for potentially concealed deposits
• Initial drill testing of new targets in Q4 2025
Why Strickland Presents a Compelling Opportunity
Strickland Metals offers investors exposure to a well-funded exploration company with multiple pathways to value creation:
- The company is targeting large-scale porphyry systems with world-class potential
- It already has a substantial 7.4Moz AuEq resource base, providing a solid foundation
- Strong technical indicators suggest proximity to the core of a major porphyry system
- A robust treasury of nearly $40 million enables aggressive exploration without near-term funding concerns
- Strategic backing from Zijin Mining, a global leader in copper-gold development
The company's systematic approach to exploration, applying cutting-edge geophysical techniques to identify targets beneath volcanic cover, positions it to potentially make significant discoveries in an area already proven to host substantial mineralisation.
As drilling at Jezerska Reka progresses and the geophysical surveys identify new targets, investors should watch closely for results that could indicate the discovery of a major copper-gold system at Rogozna.
Ready to Explore This Copper-Gold Investment Opportunity?
Discover why Strickland Metals' systematic exploration at the Rogozna Project could unlock significant shareholder value. With $40 million in the treasury, strategic backing from Zijin Mining, and an existing 7.4Moz AuEq resource base, STK is well-positioned in its hunt for world-class porphyry copper-gold mineralisation. To learn more about this compelling investment opportunity and stay updated on upcoming drilling results, visit Strickland Metals' website today.
