Strickland Metals has homed in on a powerful near-surface anomaly as part of an induced-polarisation (IP) survey being run at the Obradov Potok target area of its Rogozna gold and base metals project in Serbia that suggests a potentially significant new mineral deposit is taking shape.
The company has today confirmed that preliminary IP survey results have unearthed a strong chargeability target starting 100m below the surface and extending along a 400m strike length. The anomaly is open to both the north and south and is spatially associated with significant gold and pathfinder anomalies in soils, further indicating potential extensive mineralisation in the area.
The Obradov Potok target area is 2km west of Gradina, a known deposit exhibiting similar geophysical anomalies. The area is characterised by disseminated sulphides and argillic alteration within the volcanic rocks that overlay the skarn-hosted deposits below.
Strickland Metals managing director Paul L'Herpiniere said: “It is great to receive such promising early results from the IP survey at Obradov Potok. All the currently defined deposits on the neighbouring license are spatially associated with IP anomalies. The early recognition of similar geophysical anomalism at Obradov Potok bodes well for the potential discovery of a new deposit at Rogozna.”
Work at the company’s broader Rogozna project area is continuing apace.
Recent geophysical surveys, including pole-dipole IP and ground gravity studies, have begun across the Zlatni Kamen license. The surveys are aiming to test the geophysical properties of the Jezerska Reka prospects, as well as Obradov Potok where previous work identified high levels of gold, copper, lead, zinc, arsenic and bismuth in soils.
In drilling activities, Strickland has completed four holes across its Shanac, Medenovac and Copper Canyon South areas as part of a 60,000m program, with four rigs operating continuously. Three rigs are focused on resource delineation and a fourth is dedicated to exploring new deposits, including recent drilling at the Veleiki copper-gold porphyry target.
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-positioned near vital infrastructure in a renowned mining district within the globally-significant Tethyan Metallogenic Belt.
Meanwhile, at the company’s Yandal project, 85km north-east of Wiluna in Western Australia, the company has kicked off a three-rig drilling program to punch holes into four prospective targets. The project covers 1765 square kilometres covering a possible 70km strike along the Celia Shear and is within 50km of Northern Star Resources’ giant 5 million-ounce Jundee underground gold mine.
Strickland has seven rigs working full-time on two major exploration projects, suggesting that assay results will start to flow thick and fast during the course of the next few months. With so much activity, hopes will be high that a major new discovery is on its way.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
Share Price
Revenue
| 74 | - | Strickland Metals | $9,136,203.00 |
| 142 | - | Larvotto Resources | $858,830.00 |
| 146 | - | European Lithium | $755,821.00 |
| 150 | - | Alma Metals | $677,288.00 |
| 152 | - | Marvel Gold | $641,479.00 |
