The useful resource at Copper Canyon was calculated by MPR Geological Consultants in Perth in 2021 and reveals 28 million tonnes at 0.9g/t gold equal, with 0.4g/t gold and 0.3 per cent copper. It tallies 810,000 ounces of gold equal, damaged all the way down to 360,000 ounces of gold and 84,000 tonnes of copper metallic.
In complete, each deposits maintain the 5.44 million ounces of gold equal – 2.99 million ounces of gold, 214,000 tonnes of copper, 21.3 million ounces of silver, 260,000 tonnes of lead and 364,000 tonnes of zinc.
Strickland Metals outgoing chief government officer Andrew Bray stated: “Strickland’s acquisition of Rogozna is being undertaken at a gorgeous valuation metric of ~A$6.80 (US$4.40) per oz AuEq. We see the Challenge as providing large leverage to a quickly enhancing gold value surroundings. In our view, the Challenge has the potential to develop into one of many largest undeveloped gold deposits globally (with vital copper and zinc), making it exactly the kind of asset that may appeal to very compelling valuations because the undertaking advances.”
Bray stated Rogozna provides “unbelievable upside” on prime of an already vital base by means of the potential for vital copper-gold porphyry mineralisation outdoors of the principle prospect areas.
Historic drilling at Rogozna spans a number of a long time and the newest gap drilled by earlier homeowners Zlatna Reka Assets, which was in flip held by Betoota, have assays due again shortly. In all, 215 diamond holes have been drilled within the space for 123,522m of gap.
A few of the greatest drill hits embody 131m at 0.9g/t gold equal from 255m together with 10m at 2.7g/t gold equal from 376m and 206m at 0.9g/t gold equal from 419m together with 16m at 3.1g/t gold equal from 416m. The perfect intersection of 352m at 2.1 g/t gold equal included a espresso spitting high-grade part of 97m grading 5.1/t gold equal from 321m.
Importantly, all the intersections got here from the Medenovac prospect and lie outdoors of the present mineral useful resource estimate. Strickland says the mineralisation stays open alongside strike and at depth and it has Medenovac in its sights as a considerable high-order goal simply begging to see the drill bit.
Administration says Medenovac has an exploration goal of 55 million to 85 million tonnes at between 0.5g/t and 0.7g/t gold, 0.2 per cent to 0.3 per cent copper and 1.2 per cent to 1.8 per cent zinc.
To not be outdone, the Gradina prospect has produced drill hits as excessive as 228m at 1.4g/t gold equal from 488m together with 15m at 3.9g/t from 632m and 22m at 4.1g/t from 691m. One other hit went 113m at 2.3g/t gold equal from 435m.
Gradina has an exploration goal of 40 million to 60 million tonnes at between 1.2g/t and 1.7g/t gold and 0.2 per cent to 0.3 per cent zinc.
The Rogozna undertaking space includes 4 exploration licences overlaying some 184 sq. kilometres in a longtime mining area within the southern Raška District within the Republic of Serbia. The turf is about 10km to 12km from the regional centre of Novi Pazar and about 400km south of the capital, Belgrade.
On completion of the Rogozna deal, Strickland says it’s going to get a drill bit into the bottom as quickly as potential, with a daring mission to develop the present useful resource. The corporate says it has 60,000m of exploration diamond drilling deliberate.
And with a wholesome $54 million in money and Northern Star shares in its coffers following the savvy sale of its Millrose undertaking final yr, it’s in a wholesome place to aggressively pursue drill meters.
Serbia has a longtime mining trade with a protracted historical past of large-scale producing belongings and is Europe’s second-biggest copper producer. A number of main mining firms are energetic in nation together with BHP, Vale, Zijin Mining, Dundee Treasured Metals and Rio Tinto.
Strickland has entered elephant nation in Serbia, with ounces already on the books, exploration targets begging to be drilled and money to throw at maturing the bottom. It means there must be loads of information move out of the Balkans within the coming yr as the corporate builds it marketing campaign to outline extra ounces at Rogozna.
Is your ASX-listed firm doing one thing fascinating? Contact: mattbirney@bullsnbears.com.au
