Impact: Mildly Positive
Strickland (STK) reported assays for an additional hole at the Medenovac prospect within its 100%-owned Rogozna project in Serbia. The highlight intercept was 1.7 g/t AuEq over 223m from ~180m depth (ZRSD24159), which equates to 397 g/t*m. The headline intercept included high-grade sub-intervals of 4.6 g/t AuEq over 43.4m, including 6.8 g/t AuEq over 19.7m. With four rigs currently conducting ~60,000m of drilling at Rogozna, we believe its ~5.4M oz AuEq resource could grow substantially from optimizing and extending the current resources at Shanac and Copper Canyon, delineating new resources at Medenovac and Gradina, and potentially from new discoveries. Steady news flow from drilling should be the key catalyst for STK in the near term and continued exploration success could help push its share price higher.
