STRICKLAND METALS ADVANCES WITH FULL THROTTLE EXPLORATION

Strickland Metals Limited (ASX:STK) is gearing up for an escalated drilling program at Marwari, part of its wholly-owned Horse Well prospect at the Yandal Gold Project. Following the completion of the initial diamond hole, MWDD001, which delved 111m deeper than initially planned, the firm is setting sights on a more aggressive exploration strategy. Here’s a rundown of the essential points from the latest exploration update:

Key Highlights:

  • Successful completion of MWDD001, which was drilled to a total depth of 291m, exceeding the planned depth by 111m.
  • Both Reverse Circulation (RC) and diamond rigs will now be singularly focused on Marwari, spotlighting the area’s significance in the ongoing exploration.
  • Four additional diamond holes are slated to be drilled at Marwari, marking a robust step forward in the exploration venture.
  • The RC rig has embarked on an aggressive drilling venture on a 40×40 metre grid over an initial 300m of strike south of the discovery hole, HWAC1472.
  • A substantial number of assays from the aircore program are pending, with progressive announcements planned as they are received.

CEO Andrew Bray articulated the firm’s enthusiasm on the progress, stating:

The Company has successfully completed the first diamond hole at Marwari. The hole was initially planned to a target depth of 180m, however the Company elected to continue the hole for a further 111m to total depth of 291m.

Strickland is now sufficiently confident in expanding the drilling program at Marwari. A further four diamond holes will now be drilled. MWDD002 is currently drilling 40 metres to the south of the discovery aircore hole HWAC1472 (31m @ 5.6g/t Au from 72 metres to BOH). MWDD003 will be a 40m step back from MWDD001 (drilling underneath the initial diamond hole). MWDD004 and MWDD005 are deeper holes that will be drilled on 40m spacings to the south of the step-back hole, MWDD003. Holes MWDD003-005 are targeting the peak of the magnetic inversion.

Diamond core from MWDD001 will be sent to Perth next Friday, and the Company will request the assays be fast tracked.

The RC rig has arrived at site and will first drill the diamond pre-collars for MWDD003-005. After that, it will commence drilling on a 40m x 40m grid moving south from the discovery hole for initial strike testing over 300m. Any holes that do not sufficiently penetrate the entirety of the target structures will be diamond tailed.

Strickland has elected to commit both rigs to drilling at Marwari for the immediate future. Additional high priority targets at Great Western and Rabbit Well, amongst others, are still planned for initial testing before the end of the 2023 calendar year. Further updates will be provided as soon as they are available.

With a significantly funded war chest from the recent sale of the Millrose gold deposit, and a clear drilling blueprint, Strickland Metals is in a strong position to unravel the potential that Marwari holds. The upcoming updates are keenly awaited as they could reveal more about Marwari’s prospects and further shape Strickland’s exploration trajectory for 2023.

Goldman

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