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18/07/2024
Mining News

Strickland Metals initiates major exploration campaign at Rogozna gold project in Serbia

Strickland Metals has initiated a robust exploration drive at its Rogozna project in Serbia, aiming for extensive drilling totaling 60,000 meters. With two rigs already operational and two more on their way, this represents the most extensive program in the project’s history. The company anticipates finalizing a full ownership deal for Rogozna by July 1.

The primary focus of the initial drilling will be on expanding and confirming the skarn-hosted mineralization at the Shanac resource, which remains open for further exploration to the north, east, and at depth. Additionally, a portion of the drilling will target other areas within the broader Rogozna project zone. The company plans to allocate approximately 35,000 meters for upgrading the existing Shanac and Copper Canyon mineral resource estimates and establishing estimates for the Medenovac and Gradina deposits within a year.

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The remaining 25,000 meters will be dedicated to testing multiple high-priority copper-gold porphyry targets across various locations, including Copper Canyon, Cesme, and Jezerska Reka. New and untested targets such as Obradov Potok will also be explored. These targets show significant soil arsenic anomalies, indicating potential mineralization.

Strickland Metals’ Chairman, Anthony McClure, highlighted that the drilling at Shanac aims to define the high-grade core of the deposit, with results informing ongoing mining studies. A significant portion of the drilling will focus on infill drilling to delineate higher-grade zones and extend the existing deposit, particularly in the northern and northeastern areas.

Rogozna is situated in southern Serbia and represents a large-scale gold-copper-zinc system within the Serbian Cenozoic igneous province. With over US$40 million spent on exploration to date, the project boasts a JORC-compliant inferred mineral resource of 5.44 million ounces of gold equivalent. Serbia’s established mining industry and attractive mineral resources make it an appealing destination for mining investment.

Strickland Metals is well-positioned financially, with approximately $51.4 million in cash and Northern Star Resources shares as of the end of the March quarter, providing a solid foundation for its ambitious exploration program.

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