Strickland Accelerates Development Path for 7.4Moz Rogozna Gold Project
Strickland Metals (ASX: STK) is making significant strides in advancing its 100%-owned Rogozna Gold and Base Metals Project in Serbia, implementing a comprehensive strategy that spans technical development, environmental assessment, and community engagement.
Development Studies Gain Momentum Across Multiple Fronts
Strickland is actively progressing mine development studies for the 7.4 million ounce gold equivalent Rogozna Project, with work advancing simultaneously on several critical fronts. The company has strategically bolstered its team with high-caliber appointments to accelerate the project's development pathway.
"As part of what is shaping up to be a pivotal year of growth at the Rogozna Project in 2025, we have recently expanded our leadership team to manage the key areas of community relations, mining studies, environmental and sustainability studies, as part of our commitment to deliver a robust and responsible development pathway for the project." – Paul L'Herpiniere, Managing Director
The project continues to see intensive drilling activity, with six rigs currently operating across the property – four at Gradina, one at Shanac, and one at Kotlovi. This ongoing exploration work complements the advancement of development studies.
Environmental and Metallurgical Studies Progress
Strickland has engaged Serbian environmental consulting company Envico to expand the baseline environmental studies across the project area. These studies build upon previous surveys conducted between 2020 and 2023 that assessed biodiversity, surface water, geomorphology, soil chemistry, and land use.
Metallurgical testwork is showing promising advancement:
- Shanac deposit testwork: ~50% complete
- Medenovac deposit testwork: ~30% complete
- Gradina deposit testwork: set to commence within weeks
Previous metallurgical studies have already demonstrated positive results with clear pathways for high metal recoveries in processing. The company plans to release an initial development scoping study by the end of calendar 2025.
Strategic Community Engagement Initiatives
Demonstrating its commitment to stakeholder engagement, Strickland has opened a dedicated community relations office in Novi Pazar, a town approximately 10km from the Rogozna Project. This office serves as a base for the company's Community Relations team to facilitate enhanced communication with all local stakeholders.
The company has already launched environmental initiatives, including:
- Planting 2,000 tree saplings on the slopes of Rogozna
- Planning a second tree-planting exercise for June
- Developing initiatives to improve domestic water supplies for Rogozna residents
Key Management Appointments Strengthen Development Capability
Strickland has strategically expanded its team to 40 local Serbian staff through its subsidiary Zlatna Reka Resources, making it one of the most active explorers in the region. Recent key appointments include:
Sarai Tautari – Community Relations Manager
With 19 years at Fortescue, Ms. Tautari brings extensive experience in exploration operations and community engagement, having excelled in roles including Manager of Pilbara Exploration Operations and Director General of Fortescue's Kazakhstan Operations.
Mark Mantle – Mine Study Manager
A Professional Engineer with over 30 years of experience across multiple continents, Mr. Mantle brings valuable project evaluation and development expertise from early-stage scoping through to construction delivery and operations.
Ben Pearson – Environmental and Permitting Manager
With over 25 years in environmental management, Mr. Pearson specialises in delivering responsible environmental and sustainability solutions for mining projects globally, with expertise in ESIA, ESMP, and carbon accounting.
Understanding Mineral Resources at Rogozna
The Rogozna Project hosts a substantial mineral resource across three deposits:
| Prospect | Tonnes (Mt) | AuEq (g/t) | AuEq (Moz) | Au (Moz) | Cu (kt) | Ag (Moz) | Pb (kt) | Zn (kt) |
|---|---|---|---|---|---|---|---|---|
| Medenovac | 21 | 1.9 | 1.28 | 0.52 | 57 | 4.3 | 23 | 320 |
| Shanac | 150 | 1.1 | 5.30 | 3.09 | 180 | 28.0 | 360 | 510 |
| Copper Canyon | 28 | 0.9 | 0.81 | 0.36 | 84 | – | – | – |
| Total | 199 | 1.2 | 7.40 | 3.97 | 320 | 32.2 | 380 | 830 |
What are Gold Equivalent Ounces?
Gold Equivalent (AuEq) is a metric used to express the value of multiple metals in terms of gold. For polymetallic deposits like Rogozna, which contain gold, copper, silver, lead, and zinc, this calculation allows investors to understand the total economic potential in a single, familiar unit.
At Rogozna, the AuEq calculation incorporates:
- Gold (US$2,250/oz)
- Copper (US$10,000/t)
- Silver (US$25/oz)
- Lead (US$2,200/t)
- Zinc (US$3,000/t)
This approach assumes overall metallurgical recoveries of 80% and provides a clearer picture of the project's total value than looking at individual metal contents separately.
For the Medenovac and Shanac deposits, the formula used is:
Au Equivalent (g/t) = Au (g/t) + 1.38 x Cu(%) + 0.011 x Ag (g/t) + 0.304 x Pb(%) + 0.413 x Zn(%)
For the Copper Canyon deposit, which was estimated earlier using different metal price assumptions, the formula is:
AuEq (g/t) = Au (g/t) + 1.55 x Cu (%)
Investment Thesis: Strickland's Multi-Dimensional Advantage
Strickland Metals presents a compelling investment opportunity through its Rogozna Project for several key reasons:
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Scale: With 7.4 million ounces of gold equivalent resources, Rogozna represents one of the largest undeveloped gold and base metals projects in Europe.
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Polymetallic Value: The project contains significant quantities of copper (320,000 tonnes), silver (32.2 million ounces), lead (380,000 tonnes), and zinc (830,000 tonnes) in addition to nearly 4 million ounces of gold.
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Development Progress: The company is advancing multiple workstreams simultaneously, including drilling, metallurgical testing, environmental studies, and community engagement.
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Strong Leadership: Recent high-caliber appointments bring specialised expertise in critical areas of mine development, environmental management, and community relations.
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European Location: Serbia provides access to established infrastructure and proximity to European markets, potentially simplifying downstream logistics.
The combined progress across technical, environmental, and social domains positions Strickland to deliver a comprehensive scoping study by the end of 2025, providing investors with a clearer picture of the project's development potential.
Why Investors Should Follow Strickland
Strickland Metals represents an opportunity to gain exposure to a substantial gold and base metals project that is rapidly advancing toward development. The company's multi-faceted approach—simultaneously progressing technical studies, environmental assessments, and community relations—demonstrates a comprehensive understanding of what's required to advance a major mining project in the modern era.
With its substantial resource base of 7.4 million ounces of gold equivalent and active exploration program utilising six drilling rigs, Strickland continues to enhance the project's scale while making steady progress toward development.
The company's focus on environmental responsibility and community engagement, evidenced by initiatives like tree planting and water supply improvements, indicates a commitment to sustainable development principles that are increasingly important to investors, governments, and communities alike.
As the company works toward delivering its initial scoping study by the end of 2025, investors have multiple potential catalysts to monitor, including ongoing exploration results, metallurgical testing outcomes, and further project development milestones.
Ready to Invest in Europe's Gold Development Story?
Interested in gaining investment exposure to one of Europe's largest undeveloped gold and base metals projects? Discover more about Strickland Metals' progress at the 7.4Moz Rogozna Project, including their comprehensive development strategy, environmental initiatives, and recent high-calibre management appointments by visiting their website today.
