Strickland Metals Limited

Strickland Metals Limited

© 2021 Strickland Metals Limited

ABN 20 109 361 195  |  TERMS

In June 2021, Strickland executed a series of acquisitions1, 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 and is made up of two primary projects – The Horse Well Gold Project and the Millrose Project.  

The region indicates a very substantial gold system with over 100km of strike in the Celia Shear.  

The Yandal consolidation has achieved the updated resource base as noted below.

Location

Warburton Mineral Field, Western Australia

Minerals

  • Gold

Table 1: Yandal Gold Projects Mineral Resources (JORC 2012)

1 Millrose acquisition subject to completion. Refer to announcement. 


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 occurs 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.

Project Location

Figure 1: Strickland Metals 950 km2 Horse Well Gold Project in the Yandal Greenstone Belt (view PDF)

The project is only 50 kilometres north of Northern Star’s 220,000 ounce per annum Jundee Operation, with excellent regional and local infrastructure.

Figure 2: Horse Well Gold Resources and Prospects (view PDF)

The Horse Well portion of the greenstone belt has only had focussed exploration along the southern part, 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.

AREATONNESGRADE (G/T)OUNCES GOLD
Palomino930,4002.2968,300
Filly SW302,4001.8017,200
Filly206,0001.328,700
Warmblood788,0002.153,900
Dusk til Dawn3,495,6001.0108,900
Total5,722,4001.4257,000

Table 2: Horse Well Mineral Resources (JORC 2012)

The 100% owned project is well-mineralised and has several prospects within the 45-kilometre strike of greenstone belt. 

The Big Daddy Prospect hosts a huge gold system with two significant trends (8km and 7km respectively) of gold in soil anomalies associated with the Celia Shear. Bid Daddy has multiple granite intrusives with associated gold as well as numerous in-soil gold anomalies. Big Daddy is yet to be drilled with RC drilling. 

More recently, the Company has been focussing on known gold prospects and reviewing geological and resource models with a view to defining opportunities to expand Mineral Resources as well as the economic potential for development. 

The Company is set to engage a major drilling program over the entire NE flank of the Yandal belt. 

The Horse Prospect mineralisation is contained in sub-vertical ribbon-like structures that contain higher grade shoots that plunge at approximately 45 degrees to the north. All Horse prospects apart from Warmblood were discovered in the 1990’s, with Warmblood first drilled in 2011 by the Company. 

Figure 3: Horse area Resources and Prospects with drilling (view PDF)


Millrose Gold Project

The 100% owned Millrose Gold Project (subject to completion – refer to announcement)  is located immediately south of Horse Well. 

Millrose encompasses nine exploration licenses and one mining lease application covering over 600km2 tenement holding adjacent to STK’s Yandal East project (acquired from Renegade Resources – refer to announcement). The Project includes 30km of strive over the Celia Shear Zone, with minimal exploration for the last 15 years. 

Millrose Gold Resources

CategoryTonnes (Mt)Grade Au (g/t)*Contained Metals Au (oz)
Indicated4.31.9246,000
Inferred1.71.582,000
Total6.01.8346,000

Table 3: Millrose Project Mineral Resource (JORC 2012) (rows and columns may not add up exactly due to rounding)

*A cut-off grade of 0.5 g/t gold has been applied 

Note: Mineral Estimate carried out in 2016 by CSA Global 

The Millrose Project has never been subject to substantial systematic exploration. Strickland has major exploration planned over the region, including 100,000m aircore drilling (360km) and 30,000m RC drilling. 

Future Activities

The Company’s aim is to upgrade the high-grade Mineral Resource within Project and explore short-term development opportunities with the current gold prices to support trucking and toll milling, or stand-alone mining operations.