Impact: Very Positive
Strickland Metals reported results from the second hole completed in the ongoing drilling campaign at the Shanac deposit of its 100%-owned Rogozna project in Serbia. Hole ZRSD24150 was drilled 100m along-strike to the SE of hole -149, to target the body of a Cu-Au-magnetite skarn intersected in the first hole completed in the program (read note) – a follow-up hole is now underway to target an extension of the newly identified Au skarn. Hole -150 returned an impressive highlight intercept of 1.9 g/t AuEq (0.7g/t Au, 0.2% Cu, 1.0% Zn, 0.5% Pb and 6.6g/t Ag) over 308.4m from 299.4m. This equates to ~586 g/t*m AuEq. The maiden resource at Rogozna is bulk scale and diluted, and there was no domaining of high-grade zones. Ongoing work has been focused on identifying the high-grade domains in the geological model, which should help with optimizing the sub-level cave stopes that constrain the resource and ultimately result in better economics down the road. This work should also allow the company to evaluate whether underground large-scale bulk mining or selective mining of higher-grade zones would be more advantageous. With ~60,000m of drilling underway at Rogozna, we expect Strickland could upgrade existing resources and delineate larger volumes of higher-grade mineralization, which could potentially translate into significant resource growth.
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