Strickland Metals managing director Paul L’Herpiniere said: Rogozna continues to deliver outstanding results almost every week, highlighting the scale, quality and optionality of the project from a development perspective. Against the backdrop of strong metal prices, this is an exceptional time to be delivering results of this magnitude and quality from our ongoing multi-rig drilling campaign.”
The company’s seven-rig program for 50,000 metres of diamond drilling continues to hum along, with one rig currently testing high-grade zones at Shanac, three finalising resource drilling at Gradina to the south and three others pushing for new discoveries across the broader Rogozna project area.
Strickland’s recent resource upgrade has pushed the Rogozna project’s total inventory to a hefty 7.4 million ounces of gold equivalent. That number is headlined by 5.3 million ounces at 1.1g/t gold equivalent from Shanac, 1.28 million ounces at 1.9g/t gold equivalent from Medenovac and 810,000 ounces at 0.9 g/t gold equivalent from Copper Canyon.
A maiden resource from the company’s impressive Gradina gold only deposit at Rogozna, which is due by years end, could supercharge the overall resource even further.
Strickland’s share price has been on a flier recently, notching up fresh highs on a daily basis to reach 24.5 cents yesterday, up 75 per cent for the month.
Much of the recent share price surge can be traced back to a blockbuster announcement just a week ago, when Strickland unveiled the results of a powerful gravity survey that outlined a whole new pipeline of porphyry targets across Rogozna.
The recent surge in gold and copper prices – the key metals at Rogozna – has no doubt also added fuel to the company’s share price rally.
However, there’s another twist to the story. Strickland’s biggest shareholder, Chinese powerhouse Zijin Mining, which holds a 16.97 per cent stake, has also rocketed 163 per cent since April and is now breathing down BHP’s neck for the title of the world’s most valuable miner.
Strickland remains well-funded, sitting on $52.4 million in cash and liquid assets at the end of June, giving it the firepower to sustain one of the most aggressive drilling campaigns in Europe.
With grades thickening, mineralisation expanding in every direction and rigs turning full-time, Strickland’s Serbian story is fast shaping up as a multi-million-ounce powerhouse in the making. And if the latest intercepts are anything to go by, the gold rush at Rogozna is only just getting started.
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