Strickland wheels in fourth rig for Serbian copper-gold hunt

Strickland Metals has upped the ante at its Rogozna gold and base metals project in Serbia by adding a fourth diamond rig to target substantial copper-gold porphyry mineralisation at the site, with initial assays due next month.

The new drilling activities come hot on the heels of Strickland confirming yesterday that it had completed its full acquisition of the project. The company says the focus of the additional rig is to step up discovery-orientated drilling to unlock the potential of Rogozna’s high-priority targets.

Its immediate focus is to drill at Copper Canyon South to identify shallower extensions of the mineralisation. The site is primarily known for high-grade gold mineralisation at depth, with previous drilling tossing up an impressive intercept of 38m at 3.7 grams per tonne gold from a depth of 760m.

After testing Copper Canyon South, the rig is expected to be moved to a conceptual target called the Veleiki prospect that is exhibiting strong geophysical and geochemical markers typical of copper-gold porphyry systems. Key indicators include robust molybdenum with coincident gold, copper, bismuth and arsenic shows in soil samples and extensive Argillic surface alteration.

Strickland Metals managing director Paul L'Herpiniere said: “With the completion of the transformational Rogozna Project acquisition on 1st July, the team are excited to increase the pace at which we develop our high-quality strategic assets. The arrival of a fourth rig at Rogozna expands an exciting, discovery-focused drilling phase that will test multiple compelling targets across the project.”

The company’s remaining three rigs will continue to push forward with extensional and infill drilling at its main Shanac and Medenovac deposits as part of a 60,000m drilling campaign designed to expand the mineral resource base and refine the delineation of higher-grade zones.

Strickland marked the beginning of the new financial year by completing the transformational acquisition of Rogozna in an all-script deal worth $37 million in shares at a deemed price of 9c and 50 million options.

In a board shake-up, and as part of the acquisition, L’Herpiniere has stepped up as managing director. With two decades of exploration management in more than 20 countries, L’Herpiniere was also former head of exploration at Fortescue.

The board has also been bolstered with the appointment of Dr Jon Hronsky as a non-executive director. Dr Hronsky is one of Australia’s leading geoscientists with 40 years’ experience in exploration and he has been involved with Rogozna since 2019.

The Rogozna project stands out with impressive credentials. To date, more than $60 million has been ploughed into exploration and technical work at the site, resulting in a JORC-compliant inferred resource of 2.96 million ounces of gold, 200,000 tonnes of copper and 360,000 tonnes of contained zinc. It is also strategically situated near vital infrastructure in a renowned mining district within the globally-significant Tethyan Metallogenic Belt.

Strickland’s aggressive drilling strategy in Serbia underscores its commitment to unlocking the project's full potential and the company now appears poised for significant growth as a future producer.

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