Strickland Metals is confident that its Millrose gold deposit in the Yandal Belt of WA is a "very substantial" gold system. Strickland has revealed a new drill intersection of 25m at 5.1 g/t gold from 82m that it says demonstrates continuity across a 200m strike with a previous result of 55m at 2.4 g/t gold from 86m. Millrose has a current resource of 346,000 ounces of gold.
Strickland Metals is confident its Millrose gold deposit in the Yandal Belt of WA is a “very substantial” gold system.
Strickland has revealed a new drill intersection of 25 metres at 5.1 grams per tonne gold from 82m it says demonstrates continuity over 200m strike with a previous result of 55m at 2.4 g/t gold from 86m.
Millrose has a current resource of 346,000 ounces of gold and is the cornerstone of the company’s 603,000-ounce Yandal gold project.
Management says drilling appears to confirm the central and northern targets at Millrose show continuity to the primary ore zone. The latest intersection of thick, high-grade, primary gold mineralisation 200m south of a similar intersection underpins the positive reaction to the extent of this system.
Higher up the hole, another zone returned 2m at 10.9 g/t gold from 58m. Visible gold was recently reported from diamond drilling 500m south of the current intersection.
Strickland says its current understanding of the geology and mineralisation controls has improved from the recent drilling. The company believes the banded iron formation, or BIF, in the footwall is a key-marker horizon for the gold mineralisation.
Magnetic surveys have located the BIF across 8km and additional faulted offset extensions are possible to the north. The company says diamond core and RC drill chips to the south and north of the current assays appear to confirm the geological interpretation.
Strickland has altered its drilling program based on the new understanding of the role of the BIF as a footwall marker horizon to the gold mineralisation. The company will now focus on determining the lateral extent of the mineralisation.
RC and diamond drilling will continue to follow the main shear zone along strike to the north and south followed by completion of the planned mineral resource drill-out.
To date Strickland has completed 47 RC drill holes, 25 with diamond core tails. Assay results are pending for 23 holes.
Strickland says the mineralisation at Millrose is hosted within a broad shear zone, up to 160m in width, on the contact between a mafic schist and felsic sediments. The company has identified three main styles of alteration associated with the shear hosted gold mineralisation.
Drilling on the northern extension of Millrose has extended the interpreted ore zone a further 300m north with assays awaited.
At Millrose Central the drilling program of 20 holes has been completed. Drilling identified a fault offset to the mineralisation and the company was successful in locating the faulted extension.
Drilling is currently underway to locate extensions to the gold mineralisation further south along the shear zone.
The Millrose gold deposit is on a major shear zone that extends another 30km south, giving Strickland loads of potential to add more ounces. Millrose is only 30km east from Northern Star’s massive and highly-profitable Jundee gold operation situated on a deposit exceeding 10 million ounces of gold.
The company believes there is outstanding potential to rapidly add to the existing gold resources and an updated resource estimate is expected late this year.
With thick, high-grade primary gold ore zones across considerable distances and a geological marker horizon for the gold identified, Strickland’s drilling is substantially looking “very promising”.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
