Strickland Metals Limited (ASX:STK) Announces Exploration Update on Yandal Gold Project
Exploration Update
Strickland Metals Limited reported the identification of a significant Intrusion Related Gold (IRG) system at its Yandal Gold Project in Western Australia. Geochemical, geophysical, and geological analyses have uncovered two distinct Au-Mo-Cu-Bi-Te trends spanning 7.5 kilometres of strike, which have previously only been tested with shallow aircore drilling. Renowned experts Dr Nigel Brand and Mr Barry Bourne have validated these findings. A high-resolution ground gravity survey is set to begin this month, followed by a diamond drilling program.
Future Plans
The company plans to enhance target testing with a detailed gravity survey, after which an eight-hole diamond drilling program will commence. Details of the drill program will be announced to the market in due course, aiming to explore the newly identified gold corridors and potential large-scale gold deposits.
Financial Status
Strickland Metals remains well-funded, holding $33.8 million in cash and NST shares as of the end of the December Quarter, providing strong support for its ongoing exploration activities.
Executive Comments
Managing Director Paul L’Herpiniere stated, “The work of the Strickland team in defining these promising new gold corridors highlights the extraordinary potential of the Yandal ground to continue delivering value for the Company. Recent geophysics results, detailed in this announcement, have delineated two large bodies within the alteration and geochemical corridor which warrant drill testing.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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