Strickland Metals has identified a new prospect at its Iroquois zinc-lead project Earaheedy Basin near Wiluna in Western Australia after rock chip samples and a trial induced polarisation survey confirmed anomalies.
Recent rock chip samples at the new Malecite prospect about 1.5km south-east of Iroquois, returned peak results of 7.3 per cent lead, 0.5 per cent copper, 4.8 grams per tonne silver, 0.4 per cent zinc and 25 per cent manganese.
The trial survey highlighted a 400m wide chargeability anomaly that Strickland says is typical of basin base metal mineralisation.
Strickland Metals Chief Executive Officer, Andrew Bray said: “A very exciting story is continuing to unfold at our Earaheedy project. Strickland has continued to steadily advance the project while undertaking substantial drill programs at its flagship Millrose gold project.”
The company says subsequent induced polarisation surveys have highlighted further chargeability anomalies associated with both the Iroquois and the Malecite prospects, in addition to feeder structures to the mineralisation at the project.
The relevant structures and anomalies will be drill-tested once native title heritage clearance has been completed using a third drill rig currently based at the company’s Millrose gold project.
Last month Strickland was named the manager of the Iroquois project after the company completed a formal joint venture agreement with Gibb River Diamonds.
The new joint venture supersedes a historical option agreement from 2012, with Strickland moving quickly to announce plans to resume drilling at the site once approvals and heritage clearances are in place.
Strickland’s tenements adjoin Rumble Resources’ Earaheedy Basin project and the company believes the area is shaping up as an exciting base metal province. It has about 30km strike length of the prospective zinc-lead zone and is enthusiastic about the potential for additional discoveries.
Strickland’s Iroquois zinc-lead discovery in the Basin is 80 per cent-owned by the company, with the remaining 20 per cent held by Gibb River Diamonds.
The company has also been busy at its flagship Millrose project near Wiluna with assay results expected within three weeks after receiving heritage clearance and program of work approval to begin drilling last month.
The Millrose project forms part of Strickland’s broader Yandal gold project and is within the northern reaches of the region’s Archean-age Yandal greenstone belt.
Strickland Metals picked up the Millrose project last year. It arrived with an indicated and inferred mineral resource estimate of 6Mt grading, an average 1.8 g/t for 346,000 ounces of contained gold.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
