Strickland Metals has unearthed significant initial gold results from its Millrose project on the northeast flank of the Yandal greenstone belt within Western Australia’s Yilgarn Craton.
A standout strike of 55m going 2.4 grams per tonne gold from 86m was encountered in addition to the first sighting of visible gold in a diamond hole about 700m south of the reported assays.
The explorer hails the results as outstanding and is growing confident Millrose is a substantial gold system.
About 44 RC holes – 22 with diamond tails – and two diamond holes have been completed across the project.
Strickland’s first 16 holes were plunged in and around the northern part of the existing resource with further significant hits including 31m running 1.8 g/t gold from 93m and 35.1m grading 1.94 g/t gold from 136m downhole.
Following on from the initial 16, both rigs were wheeled to the uncharted northern and central Millrose areas to gather more information outside the existing resource. Eight RC holes were completed as part of the northern extension and 19 RC and diamond holes in the central zone.
Whilst the assays have not been received, management says the drilling appears to show continuity of the ore zone.
The explorer has got its eye on the banded iron formation unit in the footwall of the main shear zone as it believes it is associated with gold mineralisation in the region. According to Strickland, it is a substantial exploration target with the airborne magnetic data suggesting the unit has a strike length of more than 8km.
The Millrose gold project lies along the highly-prospective Celia shear zone, 30km east of ASX-listed Northern Star Resources’ large Jundee gold operation. Bolstering its adjoining Horse Well gold project, Millrose captures a further 30km of the shear, taking Strickland’s holdings of the structure to about 100km of strike length.
In December 2021, Strickland completed its acquisition of the project with a total consideration of $12 million in cash and $2 million in shares.
The Millrose project hosts a total mineral resource of 6 million tonnes grading 1.8 g/t for 346,000 ounces of contained gold.
Horse Well – its counterpart to the northwest – has a total mineral resource of 5.7Mt grading 1.4 g/t gold for 257,000 ounces of contained gold.
Millrose is the cornerstone of Strickland’s total resource base of 11.7Mt at 1.6 g/t gold for 603,000 ounces of contained gold.
Is your ASX-listed company doing something interesting? Contact: email@example.com