STRICKLAND METALS ADVANCES HORSE WELL DRILLING

Diamond drilling intersects down-dip structure, revealing promising results at Yandal Gold Project

Strickland Metals Limited (ASX:STK) has shared an update on its ongoing diamond drilling program at the Horse Well prospect within the Yandal Gold Project, showing significant progress and potential.

Drilling Progress and Results

  • Completed Drillings: Four diamond holes (MWDD001-004) completed, with the fifth (MWDD005) underway.
  • Promising Intersections: MWDD001 and MWDD003 intersected shearing, veining, and sulphides, suggesting extensions of the discovery hole HWAC1472.
  • Consistent Geological Findings: Similar veining and alteration were observed in MWDD002 and MWDD004, confirming the geological continuity.
  • Extended Drilling Depths: Holes MWDD001, 003, and 004 extended beyond planned depths due to ongoing intersections.
  • Magnetic Inversion Model Accuracy: The model accurately predicted targeted geological units and intensity of shearing and alteration.

Chief Executive Officer Andrew Bray commented on the findings:

The Company has successfully completed the first four diamond holes from its ongoing drilling at Marwari. All four holes have intersected the target stratigraphy, albeit over greater widths than initially anticipated.

Intense alteration, veining and shearing (intercalated BIF and intermediate volcaniclastic units) was intersected from 128m to 205m in MWDD001, with an additional wider and more intense zone intersected across the down-dip extension in MWDD003 from 180m to 270m. The geology, alteration and veining match up with the aircore results reported in the original discovery hole up-dip HWAC1472: 31m @ 5.6g/t Au from 72m to BOH.

The same unit has also been intersected 80m along strike in MWDD004 from 182m to 261m, with similar visual observations to MWDD003.

Structural measurements from the core show the main geological unit is sub-vertical, dipping 81 degrees to the east, meaning the drilling is being undertaken with the correct orientation.

As per ASX Guidance and Compliance Update no 04/23, the Company stresses that these are only visual observations of core and do not constitute assays, and it is not expected that the entirety of the alteration zones will be mineralised. There is no way of knowing any gold grades (if any) until assays are received. However, given the size of the units intersected down dip from the high-grade discovery hole; the fact that the same unit has now been intersected 80m along strike; and the apparent accuracy of the magnetic inversion model, Strickland is of the view that these visual observations warrant reporting.

Further updates will be provided as soon as they are available.

Read the full annoucement

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