Strickland Metals Expands High-Grade Zones at Rogozna Gold Project
Strickland Metals (ASX: STK) has announced impressive drill results from its Rogozna Gold and Base Metals Project in Serbia, where new intercepts continue to demonstrate the potential of both bulk-tonnage and higher-grade mineralised zones at the cornerstone 5.3Moz AuEq Shanac Deposit.
Strong Results Extend High-Grade Mineralisation
The latest diamond drilling at the Shanac Deposit has returned significant intercepts that extend the higher-grade (>1.5g/t AuEq) mineralisation zones on the western side of the Central Domain:
- ZRSD25179A: 244.4m @ 1.3g/t AuEq from 342.3m, including 82.7m @ 2.0g/t AuEq from 497.3m
- ZRSD25180: 132.9m @ 1.4g/t AuEq from 362.2m, including 32.7m @ 2.2g/t AuEq from 380.7m
These results are particularly significant as they demonstrate excellent continuity of mineralisation on the western side of the central domain at Shanac. The higher-grade zone encountered in ZRSD25180 represents a sizeable extension, with approximately 50% stronger grade than the current resource block model in this position.
Massive Resource Base Growing at Rogozna
The Rogozna Project now boasts a total JORC-compliant inferred mineral resource of 7.4Moz AuEq, comprising:
| Deposit | Tonnes (Mt) | AuEq (g/t) | AuEq (Moz) | Gold (Moz) |
|---|---|---|---|---|
| Shanac | 150 | 1.1 | 5.30 | 3.09 |
| Medenovac | 21 | 1.9 | 1.28 | 0.52 |
| Copper Canyon | 28 | 0.9 | 0.81 | 0.36 |
| Total | 199 | 1.2 | 7.40 | 3.97 |
The Shanac Deposit alone contains 5.3Moz AuEq, making it the cornerstone asset within the broader Rogozna Project.
Mineralisation Characteristics and Controls
The drilling has revealed distinct mineralisation styles across the deposit:
- In ZRSD25179A, higher-grade intercepts occur at depth near the central dyke and are associated with disseminated, vein-hosted and semi-massive to massive zones of pyrite, sphalerite and galena, with subordinate chalcopyrite.
- This mineralisation contains higher concentrations of zinc, lead and silver relative to mineralisation on the eastern side of the central dyke.
- In ZRSD25180, the strongest mineralisation occurs at the lithological contact between skarn and overlying volcanics, with the sulphide assemblage dominated by pyrite and lesser quantities of chalcopyrite, galena and sphalerite.
"It's pleasing that the thick intercepts of gold and base metals mineralisation in these holes are further improving the demonstrated continuity of mineralisation on the western side of the central domain at Shanac, whilst the higher-grade zone encountered in ZRSD25180 represents a sizeable extension, with >50% stronger grade than the current resource block model in this position," said Strickland's Managing Director, Paul L'Herpiniere.
Understanding Skarn Deposits
What is a skarn deposit?
Skarn deposits form when hot, metal-rich fluids from magmatic intrusions interact with carbonate rocks like limestone. This process, called metasomatism, transforms the original rock composition and introduces valuable metals like gold, copper, zinc, and lead.
At Rogozna, the mineralisation represents a large-scale magmatic hydrothermal system with most mineralisation associated with retrograde skarn development spatially connected to quartz latite dykes. This geological setting creates ideal conditions for the development of extensive precious and base metal mineralisation.
For investors, skarn deposits are attractive because they often contain multiple valuable metals, can form large deposits with good grade continuity, and may have predictable geometry that aids in mine planning.
Active Exploration Program Underway
Strickland is conducting an aggressive exploration campaign across the Rogozna Project:
- Seven diamond drilling rigs are currently operating across the project
- Five rigs focused on the Gradina deposit
- One rig drilling at Shanac
- One rig following up the exciting Kotlovi discovery from late 2024
Assays are pending for twelve completed drill-holes, including two from Shanac and eight from Gradina, with results to be progressively released in the coming weeks.
Strong Financial Position to Fund Exploration
Strickland remains well-funded to deliver its ambitious exploration program at Rogozna:
- $34.8 million in cash and liquid assets as of March 31, 2025
- Additional $5 million received from a strategic investment by Zijin Mining
This strong financial position ensures the company can execute the largest-ever exploration program at Rogozna throughout 2025.
Why Investors Should Track Strickland Metals
Strickland Metals represents a compelling investment opportunity for several key reasons:
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Substantial Resource Base: The 7.4Moz AuEq Rogozna Project provides a solid foundation for future development.
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Active Growth Strategy: The company is executing an aggressive exploration program with seven drilling rigs actively expanding the resource base.
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High-Grade Potential: Recent drilling continues to identify and extend high-grade zones that could enhance the project economics.
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Strong Financial Position: With approximately $40 million in funding, the company is well-positioned to advance the project without near-term dilution concerns.
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Strategic Location: Serbia provides access to European markets and infrastructure, with a mining-friendly jurisdiction.
The company's near-term focus will include further drilling at Shanac, which will soon refocus on testing the lateral extents of the high-grade gold skarn encountered in previous drilling (ZRSD24149: 89.7m @ 4.0g/t AuEq). This high-grade zone represents a potentially transformative opportunity to enhance the already substantial resource base at Rogozna.
With multiple drilling rigs active across the project and a steady flow of assay results expected in the coming weeks and months, Strickland offers investors exposure to an advancing gold and base metals project with significant scale and upside potential.
Ready to Capitalise on Strickland's Golden Opportunity?
For investors seeking exposure to a rapidly advancing gold and base metals project with significant scale and high-grade potential, Strickland Metals offers a compelling investment case. With a massive 7.4Moz AuEq resource base, seven active drilling rigs, and strong financial backing, the company is well-positioned to unlock further value at its Rogozna Project. To learn more about Strickland's exploration progress and investment potential, visit their website for the latest updates and detailed project information.
