Explorer Strickland Metals has confirmed the presence of mineralised extensions beneath its existing Millrose resource near Wiluna in WA after completing a 130m step-out program at the site.
The diamond probe nailed two high-grade intercepts running 5m at 5.3 grams per tonne gold from 239m and 5.9m grading 6.1 g/t gold from 258m. The hits sit inside a larger 38.2m parcel going 2.5 g/t from 234m.
After striking the pair of high-grade intervals management says it has significantly extended the area’s mineralisation down dip and validated the existence of a richly mineralised plunging core.
The company is currently drilling two additional holes down plunge of the core and expects assay results from the pair to start trickling in over the next few weeks.
Strickland snapped up Millrose about a year ago and quickly moved to cement the asset as its flagship project.
The operation came gift-wrapped with an indicated and inferred mineral resource estimate of 6 million tonnes grading, an average 1.8 g/t for 346,000 ounces of contained gold.
Since the acquisition the company has been furiously drilling and says the latest figures underline its accelerated success with the drill bit in growing the existing mineralisation footprint along strike, at depth and significantly closer to the surface.
Management believes the majority of its recent assays are linked with an oxide gold zone at Millrose.
The mineral explorer argues its discovery of shallow oxide gold could prove immensely important in the event it advances the project through to the development of a mine.
Earlier this month Strickland announced it had defined new oxide mineralisation to the north, south and directly above its existing resource at the project.
Assay results from the north-lying hole include 15m at 2.6 g/t gold from 117m.
The company is also looking to chase the operation’s oxide gold mineralisation beyond the current resource and recently punched a hole in an area coined “Millrose central”. The probe delivered a 31m intercept grading 1 g/t gold from 75m.
After landing the strike Strickland said it had now intersected shallow oxide gold over a 2.6km patch of ground.
According to the Perth-based company, mineralisation at Millrose central remains open to the west and closer to the surface and plans to target the zone with an in-progress RC campaign.
The project takes up ground in a well-endowed part of town with Northern Star Resources’ 10-million-ounce-plus Jundee gold operation only about 30km east.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
