Spectacular Kotlovi Discovery Extends Strickland Metals’ Rogozna Gold Project

Massive Gold Intercept at Kotlovi Confirms Major New Discovery

Strickland Metals (ASX: STK) has reported a spectacular gold intercept at its emerging Kotlovi discovery, part of the Rogozna Gold and Base Metals Project in Serbia. The first follow-up hole has delivered 277.3 meters at 1.3g/t gold equivalent, including multiple high-grade zones, confirming significant resource growth potential adjacent to an existing deposit.

Exceptional Drill Results Expand Rogozna Project Potential

The standout drill hole (ZRSD25189) at Kotlovi encountered extensive zones of both gold-dominant and gold-base metals mineralisation, just 350 meters west of the 1.28Moz AuEq Medenovac deposit.

Key intercepts include:

• 277.3m @ 1.3g/t AuEq from 337.4m, including:
  • 163.0m @ 1.4g/t Au from 337.4m, including:
    • 33.5m @ 2.9g/t Au from 339.4m
    • 2.0m @ 15.3g/t Au from 370.9m

  • 67.4m @ 1.5g/t Au from 421.0m, including:
    • 15.1m @ 2.7g/t Au from 421.0m
    • 12.0m @ 2.9g/t Au from 476.4m

  • 99.2m @ 1.0g/t AuEq from 515.5m

This drilling confirms mineralisation along approximately 200 meters of strike at Kotlovi, and it remains completely open in all directions, including up-dip toward the surface.

"This first hole of our 2025 campaign at the new Kotlovi Prospect has been exceptional. With several hundred metres of continuous mineralisation, including multiple higher-grade zones of gold-dominant mineralisation, Kotlovi is quickly becoming a key target for substantial resource growth." – Paul L'Herpiniere, Managing Director

Understanding Skarn-Hosted Gold Mineralisation

The Kotlovi gold discovery represents a skarn-hosted gold and base metals deposit, a style of mineralisation prevalent throughout the Rogozna Project. Skarns form at the contact between intrusive igneous rocks and reactive rocks like limestone, creating environments favourable for metal deposition.

At Kotlovi, the mineralisation appears in two distinct zones:

1. An eastern gold-dominant zone hosted in green garnet skarn with abundant pyrite
2. A western polymetallic zone containing gold with zinc, copper, and lead

This mineralisation style is similar to the other large-scale skarn deposits already defined at Rogozna, suggesting potential for significant resource expansion through continued exploration.

The gold-dominant mineralisation at Kotlovi (163.0m @ 1.4g/t Au) is associated with green garnet skarn and, to a lesser degree, narrow intervals of endoskarn. Higher-grade zones typically contain abundant pyrite, occurring both as disseminations in the skarn and within carbonate veins.

In the western zone, the polymetallic mineralisation contains gold occurring with zinc, copper and lead, characterised by high concentrations of sphalerite with abundant pyrite and lesser amounts of chalcopyrite and galena.

Strategic Location Enhances Project Economics

The proximity of Kotlovi to the existing 1.28Moz AuEq Medenovac deposit (just 350 meters away) creates substantial strategic advantages for Strickland. This close spacing between deposits could potentially allow for shared infrastructure and processing facilities, enhancing overall project economics.

The geological setting at Kotlovi mirrors that of other deposits at Rogozna, with mineralisation abutting a thick quartz-diorite intrusion. This consistent pattern throughout the project area provides Strickland's exploration team with a clear model to guide future targeting.

The gold-dominant mineralisation at Kotlovi is associated with a steep structure, which manifests at surface as a major NW to SE-trending valley. This valley extends for approximately 1km with geochemically anomalous gold and arsenic readings, most of which remains untested by drilling to date.

Aggressive Exploration Programme Underway

Strickland Metals Ltd is maintaining an aggressive exploration approach at Rogozna with eight drilling rigs currently operating across the project:

• One rig testing extensions at Kotlovi
• Two rigs exploring at Jezerska Reka and Obradov Potok
• Four rigs supporting a maiden resource at Gradina
• One rig testing the skarn-andesite contact at Shanac

This multi-front approach allows Strickland to advance several prospective areas simultaneously, potentially accelerating the overall resource growth trajectory.

Assays for multiple holes are pending, with results expected to be released in the coming weeks.

Strong Financial Position Supports Growth Strategy

Strickland remains extremely well-funded with $32.7 million in cash and Northern Star (NST) shares as of the end of the June quarter. This strong financial position allows the company to maintain its aggressive exploration programme without the immediate need for additional capital raising.

Why Investors Should Follow Strickland Metals

Strickland's Rogozna Project already hosts a substantial 7.4Moz AuEq resource across multiple deposits, making it one of the largest undeveloped gold and base metal projects in Europe. The latest results from Kotlovi demonstrate the significant growth potential still remaining within the project area.

Key investment considerations include:

1. Scale and Growth Potential: The 7.4Moz AuEq resource base provides a solid foundation, with new discoveries like Kotlovi suggesting substantial upside remains.

2. Multiple Value Drivers: With eight drill rigs operating across several prospects, Strickland offers investors exposure to multiple potential catalysts in the coming months.

3. Strong Financial Position: $32.7 million in cash and liquid assets provides runway for continued aggressive exploration without near-term dilution concerns.

4. Favourable Mining Jurisdiction: Serbia has emerged as an increasingly important European mining destination, with major companies like Zijin Mining investing heavily in the region.

With mineralisation at Kotlovi remaining open in all directions and multiple assay results pending, investors can expect a steady flow of news as Strickland continues to unlock the full potential of this emerging discovery at its Rogozna Project.

Ready to Capitalise on Strickland's Latest Gold Discovery?

For investors seeking exposure to one of Europe's largest undeveloped gold and base metal projects, Strickland Metals presents a compelling opportunity following their spectacular 277.3-metre gold intercept at Kotlovi. With a substantial 7.4Moz AuEq resource already defined, strong financials of $32.7 million, and eight drilling rigs actively expanding the project's potential, now is the time to investigate this emerging story. Visit Strickland Metals' website to learn more about their aggressive exploration programme and how you can participate in their growth journey.