Strickland Metals has announced significant developments at its Rogozna project in Serbia, revealing a new structural framework following a comprehensive gravity survey. This survey has identified critical mineralising structures and a new pipeline of porphyry targets, prompting a sharp increase in the company’s share price by as much as 45 percent to reach 22.5 cents.
The gravity survey produced a detailed top-down map of the Rogozna project, highlighting several dense zones that align with earlier induced polarisation (IP) and magnetic results. These features are indicative of concealed porphyry intrusions, which are large mineral systems capable of substantially increasing the project’s resource estimates. Strickland Metals has identified that these new targets are situated within three major mineralisation-controlling structures that intersect the Rogozna project, potentially leading to the discovery of porphyry-style gold and copper deposits beneath the younger volcanic rocks that have previously obscured mineralisation.
Strickland Metals’ managing director, Paul L’Herpiniere, expressed enthusiasm about the results, stating, “We are constantly surprised on the upside by the scale of the opportunity at Rogozna.” The survey has also refined the understanding of the company’s main deposits, including Shanac, Medenovac, and Obradov Potok, which are now believed to be situated above substantial, deep-seated dense rock bodies—characteristics typically associated with major mineral systems.
Additionally, new gravity targets have emerged near the company’s early-stage Leca prospect, located just north of Obradov Potok. Previous drilling in this area has already indicated promising gold veins and notable hydrothermal alteration. Given that younger volcanic rocks cover much of the region, traditional soil sampling techniques have failed to detect anomalies, underscoring the importance of advanced geophysical surveys in uncovering potential resources.
The upcoming magnetotelluric (MT) survey is set to commence within weeks, marking the next phase in identifying drill targets as Strickland prepares for renewed drilling efforts in late 2025. The company is currently engaged in an extensive 50,000-meter drilling campaign, which continues to enhance its resource estimates, now totaling 7.4 million ounces of gold equivalent at Rogozna.
Recent results have been particularly promising; just yesterday, Strickland reported an impressive 191-meter intercept from surface grading 0.5 grams per tonne (g/t) gold and 0.5 percent copper at the previously underappreciated Copper Canyon deposit. This high-grade intercept is among the largest copper-rich discoveries recorded at Rogozna, prompting a shift in the company’s strategic outlook regarding its 810,000 gold equivalent ounce deposit.
As of June 30, 2023, Strickland has a robust financial position with a war chest of $52.4 million, positioning it well to pursue its exploration goals. The latest gravity survey reinforces confidence in Strickland’s strategy to expand its already significant resource base, primarily driven by 5.3 million gold equivalent ounces at Shanac and a higher-grade 1.28 million ounces at Medenovac.
With comprehensive data from gravity, IP, remanent magnetism, and the forthcoming MT surveys converging on new porphyry targets, Strickland Metals appears poised to uncover what could be one of Europe’s most significant underexplored gold-copper provinces.
