In June 2021, Strickland executed a series of acquisitions, consolidating the entire NE flank of the Yandal Greenstone belt. Strickland and Northern Star are now the only two companies on this part of the belt. The hugely underexplored Tier 1 address is Strickland’s primary focus. Following a campaign of resource and exploration drilling at the Millrose Gold Deposit during 2022, Strickland successfully sold the deposit to Northern Star for $61 million.
The Yandal East Project indicates a very substantial gold system spanning the Celia Shear Zone, including a current resource base comprised of Horse Well (Palomino, Warmblood, Filly Central, Filly South) and Dusk 'Til Dawn, and advanced exploration targets at Cowza, Mizina and Ward.
Strickland remains well funded to complete aggressive exploration across the Yandal East Project.
Warburton Mineral Field, Western Australia
The project is within 50 kilometres of Northern Star’s 220,000 ounce per annum Jundee Operation, with excellent regional and local infrastructure.
Horse Well Gold Project
The Horse Well Gold Project is located in the Warburton Mineral Field of Western Australia and is approximately 85 kilometres northeast of the town of Wiluna.
The Horse Well Gold Project is situated in the northern most part of the Yandal/Millrose Greenstone belt that hosts a number of multi-million ounce gold projects, such as Jundee, Bronzewing, and Darlot-Centenary gold mines.
The Horse Well portion of the greenstone belt has only had focussed exploration along the southern portion, where the Company and previous explorers have identified JORC gold resources in near-surface deposits to date.
Horse Well Gold Resources
Gold resources at Horse Well currently stands at 5,722,400 tonnes @ 1.4 g/t for 257,000 ounces.
|Dusk 'til Dawn
The 100% owned project is well-mineralised and has several additional prospects within the 45-kilometre strike of greenstone belt.
Following a technical re-evaluation, Strickland commenced a major drilling program over the historically-untested Horse Well Region in 2023, returning multiple new discoveries (termed Marwari and Konik) through maiden aircore intercepts of:
- HWAC1472: 31m @ 5.6g/t Au from 72m to BOH, incl. 8m @ 17.7g/t Au (Marwari)
- HWAC1488: 58m @ 1.7g/t Au from 17m to BOH, incl. 10m @ 4.2g/t Au (Konik)
The Company is accelerating exploration at Horse Well to expand the Mineral Resource Base and define the economic potential for development. In light of the Marwari discovery, Strickland has defined a further 3km strike length of the offset and untested northern extent of the Marwari trend, termed Pegasus.
Strickland has planned systematic regional exploration programs across the Horse Well Region, designed to delineate new prospects and future economic potential.
The Company’s aim is to upgrade the high-grade Mineral Resource Base within the Yandal Gold Project and explore short-term development opportunities with the current gold prices to support trucking and toll milling, or stand-alone mining operations.
Future resource development will focus on the Horse Well Region, upgrading current deposits and adding new prospects to the resource base.
Additionally, Strickland will continue systematic exploration across the Yandal Gold Project, focussing on the Horse Well Region and Cowza-Ward Trend of the Celia Shear Zone.