Strickland Metals (ASX:STK) has made a new gold find at its 100% owned Horse Well prospect at the Yandal Gold Project in Western Australia.
Highlights
- New discovery in hole HWAC1488: 58m @ 1.7g/t Au from 17m (to BOH), incl. 10m @ 4.2g/t Au
- The new Konik trend had not been identified or drilled by past explorers
- Strickland appears to have intersected the same structure in aircore drilling 200m to the south (assays pending)
- The Konik shear zone can be traced in geophysical datasets extending 600m to the south
- Historic holes were drilled parallel to the Konik shear zone and failed to test the structure
- The aircore rig will undertake closer spaced aircore lines over the Konik shear zone in preparation for subsequent RC drilling
- RC rig scheduled to arrive in the last week of October
- Strickland remains extremely well ifunded after completing its sale of the Millrose gold deposit to Northern Star Resources Ltd in July 2023 for ~$61million
Our ongoing aircore program has delivered another fantastic discovery at the newly identified Konik trend, HWAC1488: 58m @ 1.7g/t Au from 17m (to BOH), including 10m @ 4.2g/t Au,” CEO, Andrew Bray, said.
“The discovery highlights how fertile the Horse Well prospect area is, and also the area’s potential to deliver additional gold mineralisation with strong grades and over large widths. Most pleasing about HWAC1488 is its proximity to surface.
“The shear zone can be traced approximately 600m to the south of HWAC1488 in geophysical datasets. Two additional holes drilled by Strickland 200m to the south-east of the discovery hole intersected similar alteration and veining to HWAC1488, suggesting continuation of the mineralised structure.
“Three historical holes were drilled by previous explorers proximal to the Konik shear structure, however, the drill rig orientation was parallel to the shear structure meaning the holes missed the target.
“Closer spaced aircore drilling is planned to map the shear structure 600m to the south in preparation for RC drilling.
“Given we’re a little over halfway through the aircore program, it is an incredible result to have thus far delivered two new discoveries at Konik and Marwari (HWAC1472: 31m @ 5.6g/t Au), as well as identifying a large, undrilled prospective corridor to the north-west at Pegasus, which appears to be the extension of Marwari.”
The aircore rig has arrived at the Pegasus target and will shortly commence drilling a number of aircore fence lines to map the geology and test for extensions to the Marwari discovery. After completing the fence lines at Pegasus, the rig will move to Konik and complete four short fence lines before moving back to continue the southern extensional drilling of the Marwari structure.
“These aircore fence lines should accurately map the mineralising structures in preparation for substantial follow up RC drilling.
“Additionally, there are still large parts of the Horse Well prospect area away from these discoveries that the Company plans to continue systematically testing, with significant potential remaining for additional discoveries.
An RC rig will arrive towards the end of the month to assist with an expanded drill program leading into Christmas.”
