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Strickland Metals finalizes acquisition of Serbian gold project with 5.4 million ounces, initiates major drilling program

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Strickland Metals has recently completed the acquisition of the extensive Rogozna gold and base metal project in Serbia, a significant development in the company’s portfolio. The project boasts an impressive inferred resource containing more than 5.4 million ounces of gold equivalent, defined through substantial previous drilling and exploration work.

Key highlights of the Rogozna project

  • Resource expansion: Strickland is launching a substantial 60,000-meter drilling campaign aimed at expanding and upgrading the current inferred resource. This will include the deployment of three rigs, with a fourth to be added soon. The campaign is set to continue until late next year, focusing on both resource growth and exploration of new targets.
  • Historical drilling and exploration: Previous owners have already drilled over 100,000 meters, primarily focusing on two of the four identified deposits—Shanac and Copper Canyon. They also conducted comprehensive geophysical and geochemical surveys, identifying over 20 potential exploration targets within the project’s 184-square-kilometer area.
  • Experienced leadership: Strickland has appointed Paul L’Herpiniere, an industry veteran with extensive experience in multi-commodity project management across various continents, as the new managing director. Dr. Jon Hronsky, another seasoned professional, has joined as a non-executive director. Both have prior involvement with the Rogozna project through their work with private equity group Ibaera Capital.
  • Strategic focus: Strickland plans to intensify exploration efforts on the four main deposits: Shanac, Medenovac, Gradina, and Copper Canyon. Current resources at Shanac and Copper Canyon amount to 120 million tonnes at a grade of 0.63 grams per tonne of gold and 0.1% copper, with additional silver, lead, and zinc credits.
  • Promising drilling results: Historical drilling at Medenovac has yielded significant intercepts, including a notable 97.7-meter interval grading 5.1 grams per tonne gold equivalent within a broader intercept of 352 meters at 2.1 grams per tonne. These results highlight the potential for further resource definition at Medenovac and Gradina.

Implications and future prospects

Strickland Metals’ acquisition of the Rogozna project marks a major milestone, with the potential to develop one of the world’s largest undeveloped gold deposits. The company’s immediate focus on aggressive exploration and resource development underscores its commitment to unlocking the full potential of this asset. With the new management team’s extensive experience and the substantial groundwork laid by previous owners, Strickland is well-positioned to achieve significant advancements at Rogozna.

This development is particularly noteworthy for Serbia, as it underscores the country’s growing prominence in the global mining sector, attracting significant investment and expertise. The progress at Rogozna could potentially lead to increased economic activity and job creation in the region, further bolstering Serbia’s mining industry.

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For more information on the current status and future updates of Strickland Metals’ projects, including the Rogozna development, please refer to their official announcements and reports.

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