Palomino and Clydesdale prospects could connect to the more established Marwari target in the Yandal greenstone belt
Last year’s drilling delivered a huge 39m @ 6.1g/t gold intersection
Strickland remains extremely well-funded for ongoing exploration following the sale of the Millrose project for $61m
Special Report: Gold-focused Strickland Metals could significantly expand the mineralised potential of its Palomino and Clydesdale prospects down-dip and down plunge, while also connecting them to the established Marwari target at its Yandal gold project in Western Australia.
Having pocketed $61 million from the sale of the Millrose project in WA’s Yandal greenstone belt to Northern Star Resources (ASX:NST) last year, Strickland Metals (ASX:STK) is digging into its remaining tenements in the prolific gold region.
Ongoing exploration is uncovering what might just be a repeat of past success.
Exploration at the Horse Well prospect recently identified the Konik and Bronco targets as a potentially combined structure for a bulk tonnage operation where drilling previously struck 79m @ 1g/t gold from 10m and expanded the strike length to ~500m.
Expansion potential at Palomino and Clydesdale
STK now believes its Palomino and Clydesdale gold prospects at Horse Well are now part of the same system. Both were historically treated as two separate prospects.
Clydesdale possibly represents a splay off the main Palomino structure – with additional potential for it to connect to the nearby Marwari prospect.
The Palomino and Clydesdale prospects at Horse Well. Pic: Supplied (STK)
As one example, the main lode in HWRC049 showed 39m @ 2.9g/t gold from 90m to the bottom of the hole, which remains open at depth and is yet to be tested.
Aircore drilling during 2023 also yielded two excellent results from Palomino with HWAC1380 returning 39m @ 6.1g/t gold from 25m (including 7m @ 22.2g/t gold) and HWAC1348 hitting 5m @ 2.8g/t gold from 59m.
The main mineralised shear structure hosting Palomino is interpreted to continue for ~400m to the north, outside of the existing mineral resource, and is also yet to be properly tested.
And ~200m to the west lies the Clydesdale prospect, where last year STK intersected 4m @ 7.8g/t gold from 52m at hole HWAC1376 and 8m @ 1.3g/t gold from 56m at HWAC1377. These results are yet to be followed up.
Drilling reveals more ‘fantastic’ expansion opportunities
“It has a very high-grade oxide component from surface and the limited extensional drilling means the prospect is open both at depth and down-plunge,” STK chief executive Andrew Bray says.
“Our ongoing work collating, reviewing and modelling data from the 2023 drilling programs is continuing to highlight fantastic resource expansion opportunities for our planned 2024 programs, while also showing the potential for major discoveries at depth.
“The work we have undertaken at the Palomino and Clydesdale prospects show the likelihood both prospects are part of the same mineralised system – offering substantially more scale than previously thought.
“We believe there’s a clear path to not only substantially grow the existing mineral resource in the area immediately proximal to the existing mineralisation, but also for significant new discoveries beneath the current level of drilling.
“Given that the Marwari mineralisation is only ~250m east of Palomino, there is the potential that it too is part of the same substantial gold system at depth. This will be drill tested in the upcoming drilling programs.”
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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