‘Clipped the outer edge’: Strickland says it could be on the tail of a large, concealed gold deposit at Yandal

Strickland is starting diamond drilling to test the Marwari discovery at its Yandal gold project in WA
Aircore drilling at Marwari previously returned 31m at 5.6g/t
Diamond rig will now test the prospect, with an RC rig to follow

Strickland Metals is days away from commencing diamond drilling to test what could be a concealed gold deposit – called Marwari – at its Yandal project in WA.

The company discovered Marwari last month as part of an extensive aircore drilling blitz designed to systematically explore for gold in new areas – including the poorly understood Horse Well project – that it had acquired in July 2021 to consolidate the entire NE flank of the prolific Yandal Greenstone belt.

Marwari first turned up in aircore hole HWAC1472, which returned a spectacular 31m intersection grading 5.6 grams per tonne (g/t) gold from a down-hole depth of 72m.

Ongoing drilling has now extended the strike length to over 700m.

This diamond rig will immediately begin testing Marwari, with an RC rig to begin testing the large-scale Great Western gold target, before moving to Marwari and Chetak.

‘Clipped the edge’ of a concealed deposit  

“Our drilling programs are beginning to ramp up for the final months of calendar year 2023. By the end of next week, the company will have three rigs (aircore, RC and diamond) testing high priority targets at our Yandal gold project for the balance of the year,” Strickland Metals (ASX:STK) CEO Andrew Bray said.

“The first priority for the diamond rig will be to test the main structure at Marwari.

“Strickland believes it clipped the outer edge of a substantial, concealed gold deposit during first pass initial aircore drilling.”

Pic: Long section of Marwari aircore drilling and magnetic inversion model. Source: STK.

Data expected to refine further drilling plans

Strickland remains extremely well-funded to complete its drilling plans after completing its sale of the Millrose gold deposit to Northern Star Resources (ASX:NST) in July 2023 for ~$61 million.

The company expects to receive a large number of assays outstanding from the aircore program in the near-term and says the geological and structural information obtained from this initial diamond drilling will assist to refine subsequent drilling.

“Upon receipt of the heritage survey report, line clearances will immediately begin at Great Western and Rabbit Well,” Bray said.

“Once the RC rig arrives and clearances are complete, the company will begin testing the large-scale Great Western gold target.

“Strickland remains very excited for a strong finish to the year, particularly given the number of very high-quality targets and prospects we will be drilling over the next couple of months.”

 

This article was developed in collaboration with Strickland Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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