Strickland hits more high-grade gold at Gradina prospect in Serbia

Strickland Metals has scored another home run after delivering a stellar set of high-grade intercepts at its Gradina prospect, which is part of the company’s Rogozna gold and base metals project in Serbia.

Among the standout results is an impressive 14.3-metre hit grading 8 grams per tonne (g/t) gold from 517m, including a 2m section peaking as high as 17.6g/t.

Other wide intercepts landing in its lap included 6m running at 4.7g/t gold from 430.7m, a second 6m hit grading 5.7g/t gold from 554.1m and a third intercept of 12m of 3.6g/t gold from 441.1m.

Drilling at site intersected more coarsely grained metamorphic skarn rock interlaced with disseminated to semi-massive pyrrhotite and small amounts of pyrite, chalcopyrite and sphalerite.

The latest results come hot on the heels of earlier results in December suggesting the high-grade mineralisation may stretch continuously from 150m below surface to beneath 600m – supporting the massive potential of the Gradina prospect.

Continuity of high-grade mineralisation has been confirmed across almost 1000m of strike and a massive 900m in vertical depth. The mineralisation remains open in all directions, including up-dip, where an untested area extending from 150m to 400m below the surface has yet to be drilled.

Gradina is expected to contribute significant high-grade gold ounces to our mineral inventory, further enhancing the scale and potential of the project and adding a significant gold-dominant deposit to future development scenarios.

The company is now pushing ahead with a new drilling campaign to kick off in early March across the wider Rogozna exploration area – using six diamond drill rigs.

The first targets to be tested at Gradina will be in a shallow 250m zone just below surface. If the results from that drilling confirm mineralisation, Gradina could become a strong contender to generate early cashflow by providing a low-cost open pit option.

Gradina appears to be a gold-only deposit, which is a handy asset to have up one’s sleeve given the exponentially growing gold prices are now at US$2841 (A$4547) per pounce.

With strong results from the latest drilling program in hand, Strickland has plenty of data to chew on and won’t waste any time in laying the groundwork for a maiden resource at Gradina in the second half of the year.

As of the end of the December quarter, the company’s bank balance remains flush with $33.8 million in cash and shares in Northern Star, which is also enjoying its day in the sun thanks to the strong gold price.

Strickland is also expecting updates for two of the major deposits at the Rogozna project, with a maiden resource pending at Medenovac later this month and a resource update set to follow for Shanac in March. The likely resulting thick and fast news flow should give the market a clear line of sight into Rogozna’s significant growth potential.

With multiple exploration milestones looming on the horizon and drilling set to intensify, 2025 is shaping up to be a pivotal year for Strickland. As gold prices remain strong and investor interest in high-grade discoveries grows, the Rogozna project - particularly the Gradina prospect - appears to be emerging as a world-class asset.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au