Strickland Metals Limited (ASX:STK) Announces High Gold Recovery at Horse Well Gold Camp
Metallurgical Testwork Results
Strickland Metals Limited has completed metallurgical testwork at the Horse Well Gold Camp, demonstrating excellent gold recovery rates. Test results indicate up to 88.6% gold recovery from six fresh rock composite samples from the Palomino Deposit. Additionally, gravity gold recoveries reached up to 32.5%, confirming that the gold mineralisation is amenable to conventional processing methods such as SABC milling or three-stage crushing, followed by gravity and cyanide leach processes.
Financial Position
The company remains well-funded with $33.8 million in cash and NST shares as at the end of the December Quarter, ensuring robust financial support for ongoing and future exploration activities.
Future Plans
Strickland’s Managing Director, Paul L’Herpiniere, stated, “Completion of metallurgical testwork from fresh ore at the Horse Well Gold Camp shows that high gold recoveries can be expected by conventional processing and treatment. By completing metallurgical testwork of fresh ore we have successfully de-risked future development including drilling that will target high-grade extensions to the Warmblood and Palomino Deposits at depth and down plunge.” The company plans to release an updated Mineral Resource Estimate for Horse Well in the coming weeks, advance the Mining Lease Application, and continue exploration at the Dusk ‘til Dawn Gold Camp.
Project Overview
The Yandal Gold Project covers 70km of prospective greenstone terrane along the Celia Shear Zone in Western Australia, with the Horse Well Gold Camp located within 50km of Northern Star’s Jundee Gold Mine. Following the sale of the Millrose Deposit to Northern Star for approximately $61 million in 2023, Strickland has focused extensively on expanding the resource base at Horse Well, now exceeding 3km of strike with defined high-grade components and open deposits along strike and depth.
Executive Comments
Mr Paul L’Herpiniere, Managing Director, commented, “These results continue to reinforce the significant potential of the Horse Well Gold Camp, and our broader Yandal Project, as an exciting growth and value creation opportunity located in close proximity to Northern Star’s Jundee gold mine.”
Motley Fool contributor Aaron Shaw 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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