Impact: Mildly Positive
Strickland Metals reported drill results from the ongoing drill program at the Horse Well camp of its Yandal Au project in Western Australia. Hole HWD017 completed at the Warmblood prospect returned high-grade primary Au mineralization in deep parallel lodes extending from the shallower oxide mineralization zone. Highlights include: 1) 6.0 g/t Au over 14.4m from 114m incl. 10.6 g/t Au over 7m, and 2) 1.7 g/t Au over 12.7m from 144m, which represents the deepest high-grade Au mineralization encountered to date. The zone of primary mineralization remains open at depth, along-strike and down-plunge. A third lode to the SW, suggested by previous holes, may also be similarly mineralized at depth (read notable). Additionally, re-assaying historical drill samples showed a coherent mineralized trend extending for 400m north of the current resource area. This extends the interpreted mineralized trend at Warmblood to 1.4km. Results from diamond and RC drilling at the Palomino prospect have also expanded high-grade mineralization down-plunge. Highlights include: 1) 3.9 g/t Au over 14.9m from 222.1m (HWDD004), and 2) 3 g/t Au over 19m from 45m (HWDD026). We believe these results strengthen the resource expansion potential at Palomino and Warmblood and enhance the prospectivity of Horse Well’s other prospects. Continued intersection and expansion of primary mineralization below the oxide and transitional zones at both prospects is noteworthy. Connecting the primary mineralization at depth and expanding the high-grade transitional zone to +3km along-strike was crucial to Strickland’s success in adding value to its Milrose project, before selling it for A$61M in 2022. We look forward to results from further drilling at Yandal and from the ongoing 60,000m drill program at its 100%-owned Rogozna project in Serbia (read notable).
