Source : THE AGE NEWS
By Doug Bright
Strickland Metals’ results from two diamond holes drilled recently at its Serbian Shanac deposit exhibit thick intercepts and strong extension potential, including a massive 244.4-metre run at 1.3 grams per tonne (g/t) gold equivalent (AuEq).
That exceptional run begins at 342.3m and includes 82.7m assaying 2.0g/t AuEq from 497.3m. The second hole probed a further strong run of 132.9m at 1.4g/t AuEq from 362.2m, which includes 32.7m going 2.2g/t AuEq from 380.7m.
Core from Strickland Metals’ second hole showing skarn-hosted mineralisation with chalcopyrite and pyrite from 456.5 metres, which assayed 3.5g/t gold, 0.5 per cent copper and 3.3g/t silver.
The two holes were designed to test the prospective skarn-andesite rock contact on the western side of the Central Domain within the Shanac deposit. Strickland wants to better resolve the area, which has seen fewer holes put in than on the eastern side of the Central Domain, where last year’s drilling was primarily focussed.
The first hole featuring the massive 244m run was drilled at the southern end of Shanac to examine the contact between the skarn and overlying andesite on the western side of the central dyke.
The overall intercept points to an extensive potential bulk-tonnage mineralisation style, with multiple internal higher-grade zones. The principal run included the 244.4m primary hit comprising 0.3g/t gold, 0.1 per cent copper, 0.7 per cent lead, 1 per cent zinc and 18.2g/t silver from 342.3m.
The intercept also includes 16m at 2.4g/t AuEq, comprising 0.8g/t gold, 0.5 per cent copper, 0.5 per cent lead, 1.1 per cent zinc and 24.4g/t silver from 397.7m, and also 82.7m assaying 2g/t AuEq, comprising 0.3g/t gold, 0.1 per cent copper, 1.3 per cent lead, 1.8 per cent zinc and 32.8g/t silver from 497.3m.
The 82.7m zone also includes 24.9m at 2.7g/t AuEq, comprising 0.7g/t gold, 0.2 per cent copper, 1.6 per cent lead, 1.5 per cent zinc and 57.5g/t silver from 555.1m.
The second hole, drilled near Shanac’s northern end, also targeted the contact between the skarn and overlying andesite on the western side of the central dyke.
Extensive bulk-tonnage-style mineralisation was also encountered in the second hole, but in a single, more coherent internal higher-grade zone.
The hole intercepted 132.9m assaying 1.4g/t AuEq, comprising 0.9g/t gold, 0.1 per cent copper, 0.3 per cent lead, 0.3 per cent zinc and 7.2g/t silver from 362.2m. The 132.9m zone includes 96m at 1.7g/t AuEq, comprising 1.1g/t gold, 0.2 per cent copper, 0.3 per cent lead, 0.4 per cent zinc and 7.5g/t silver from 380.7m.
It also includes 32.7m going 2.2g/t AuEq, comprising 1.5g/t gold, 0.2 per cent copper, 0.4 per cent lead, 0.4 per cent zinc and 6.4g/t silver from 380.7m.
Strickland says the stronger zones within the two diamond drill holes have extended the higher-grade mineralised zones, which average more than 1.5g/t AuEq, on the western side of Shanac’s Central Domain.
The higher-grade intercept in the first hole lies at depth near the central dyke and is associated with disseminated, vein-hosted and semi-massive to massive zones of pyrite, sphalerite and galena, with subordinate chalcopyrite mineralisation.
These minerals are iron pyrite, zinc sulphide, lead sulphide and copper-iron sulphide, respectively.
The company says the mineralisation contains higher concentrations of zinc, lead and silver relative to the mineralisation encountered in another hole on the eastern side of the central dyke.
In the second hole, towards Shanac’s northern end, the strongest mineralisation is noted at the contact between the skarn and the overlying volcanics, where the sulphides are dominated by pyrite, with lower chalcopyrite, galena and sphalerite content.
Significantly, the mineralisation is about 100 per cent higher in overall tenor than that included in the current resource block model. The grade amplification points to a potentially significant extension of higher-grade mineralisation in this part of the deposit.
Strickland’s flagship 5.3-million-ounce gold equivalent Shanac deposit is one of four key deposits being explored and developed at the company’s Rogozna project in the Raska district in southern Serbia.
Beyond Shanac, the company’s other three principal areas include its 1.28M-ounce gold equivalent Medenovac deposit, 4.2km northwest of Shanac, the 0.81M-ounce gold equivalent Copper Canyon deposit, 1.6km south of Shanac, and the pending gold resource at Gradina, about 1.8km south-southwest of Shanac.
The company is reviewing and has reconnaissance underway at additional targets, including the higher priority Jezerska Reka, Kotlovi, Veleiki and Red Creek targets and at earlier stage areas, such as Obradov Potok Leca, Wolf Pond and Kaluder.
Shanac’s four exploration licences enclose about 184 square kilometres within the massive, globally significant Tethyan Metallogenic Belt, a significant geological feature spanning a vast and diverse area from Europe, through the Middle East and into South East Asia.
The belt is known for its rich mineral deposits and is characterised by various ore deposits, including many gold-base metal and porphyry-related deposits, particularly associated with the collision of the Indian and Eurasian plates.
Rogazna’s geological framework embraces a variety of mineralisation styles centred around a large-scale magmatic hydrothermal system, featuring skarn-based gold-copper, with or without zinc, silver and lead mineralisation, which includes epithermal and porphyry-hosted copper-gold deposits.
In keeping with its favourable geological setting within the Tethyan Metallogenic Belt, Rogozna hosts a JORC inferred mineral resource of 7.4M gold equivalent ounces. The company believes it could become one of the world’s biggest undeveloped gold deposits.
Strickland has seven drill rigs operating across Rogozna, including five at its Gradina prospect.
A single rig is drilling near the southern end of Shanac and another is following up Strickland’s 2024 Kotlovi discovery.
Analytical results remain outstanding for 12 drill holes, including two holes from Shanac and eight holes put into Gradina. Strickland expects to receive these results in the coming weeks.
With multiple intercepts exceeding 100m, the project’s bulk tonnage potential seems assured at the current sky-high gold prices.
This seemingly irrepressible project looks to still have a lot left to give, especially as its other local discoveries develop further and come online.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
