Strickland eyes two compelling priority WA gold targets

Strickland Metals has identified two new compelling targets near its 108,900-ounce Dusk ‘til Dawn gold camp with the potential for the targets to represent the core of a much larger gold system. 

The company is also planning to soon reveal an updated mineral resource at its Horse Well gold camp. Both areas are part of the company’s wider Yandal project in Western Australia. 

Strickland has been busy putting in some hard exploration yards over the summer period at the 257,000-ounce Yandal gold project, which is about 50 kilometres away from Northern Star Resources’ 10-million-ounce Jundee gold project in WA’s northeastern goldfields. 

From exploration work completed by the company during the past few months, two compelling targets have been identified from geophysical modelling and geochemical data analysis and considering their proximity to previous gold intersections at the site.

Previous exploration at Dusk ‘til Dawn has uncovered a large-scale hydrothermal alteration system with subsequent drilling defining a 108,900 gold ounce resource.

Management believes the large scale and intensity of alteration suggests significant fluid flow, potentially pointing to a large, mineralised gold system.

It believes gold at Dusk is one of many second-order splays towards the outer edge of the system. The newly identified targets could represent the core of a much bigger gold system than has been so far discovered. 

The company says the targets have the hallmarks of a huge system and the mineralisation in the Dusk camp possesses a different style of mineralisation to that discovered elsewhere in the project’s ground.

Strickland views the Dusk-style mineralisation as a discrete project within the broader Yandal project. 

The company plans to assault 7.5km of untested prospective strike with a drill bit and expects Dusk to be the prime focus of its exploration programs planned for this year. It expects to shortly reveal these plans to the market.

Strickland Metals managing director Paul L’Herpiniere said: “While the focus of drilling late last year was on the 6.69-million-ounce gold-equivalent Rogozna project in Serbia, we are very excited to continue advancing the Yandal project during the 2025 field season. The company’s focus remains on advancing both the Rogozna and Yandal projects in tandem, an important part of which includes the release of an updated mineral resource estimate for Horse Well in March 2025.”

Strickland is laser-focused on its Horse Well gold camp, comprising a 148,100-ounce resource spread across its Palomino-Filly-Filly SW and Warmblood deposits.

A significant reverse circulation and diamond drilling program was completed at the gold camp last year, targeting high-value ounces from shallow oxide material at the Palomino and Warmblood deposits, considered suitable for open pit mining.

Additional drilling was conducted along strike and down-plunge, targeting depth extensions to previously identified mineralisation to assess the potential for underground mining. All deposits remains open along strike and down-plunge.

To improve its understanding and confidence of the mineralisation to include in the upcoming resource update, the company conducted further drilling at several advanced targets - Bronco, Konik and Marwari.

The company says it successfully achieved its objectives and expects to provide an updated resource by the end of March.

It has lodged a mining licence application for the Horse Well camp, which it expects to progress as a matter of priority. 

The company plans to unlock serious value at Horse Well this year and the mining licence is critical to achieving that aim by advancing the project towards development.

Strickland has wowed the market with a series of stunning assay results since acquiring the Rogozna gold project in Serbia in April last year, which it has progressed to a gold equivalent resource of 6.69m ounces.

Significant hits in gold-equivalent grades at Rogozna include 545.7 metres running 1.1 grams per tonne (g/t), 308.4m grading 1.9g/t and 89.7m going 4g/t, indicating the potential for a monster project as it continues with further drilling programs.

The company remains well cashed-up with an enviable $33.8 million in cash and ASX-listed Northern Star Resources shares at the end of 2024. 

Strickland set itself on a golden path long before the precious metal set new heights as its price surged ever skywards. With the yellow metal trading today at US$2913 (A$4620) per ounce, the company appears to have chosen the right path to follow.

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