Australian mining company Strickland Metals announced on Monday a significant discovery at its Rogozna project in southern Serbia. The company reported an 89.7-metre drill intercept grading 4 grams per tonne of gold. This finding comes from a depth of 244.5 metres in the first hole drilled by Strickland at the project’s 4.6 million-ounce-gold-equivalent Shanac deposit. Included in this result is a remarkable 24.1 metres at 10.5 grams per tonne of gold from 296.2 metres, according to a company statement.
“These results from the first hole drilled by Strickland at Shanac this year are phenomenal! Not only did we discover the highest gold grades ever encountered at the Rogozna Project, but we also encountered extensive copper-gold mineralisation further down the hole,” stated Paul L’Herpiniere, managing director of Strickland.
The 89.7-metre intercept marks the first time high-grade gold has been intersected in drilling at Shanac, one of four skarn-hosted gold and base metals deposits at the Rogozna project, the company added.
In July, Strickland reported uncovering a strong, near-surface anomaly at the Obradov Potok target area at the Rogozna site. The 5.44-million-ounce gold equivalent Rogozna site is poised to potentially become one of the largest undeveloped gold deposits globally, according to Strickland.
Earlier in April, the mining company revealed it had entered into a binding agreement with Ibaera Capital Fund’s subsidiary ISIHC for the acquisition of Betoota Holdings for $37 million (33.8 million euro). Betoota Holdings is the owner of Serbia’s Zlatna Reka Resources, which holds 100% of the Rogozna project, comprising four exploration licences.
