Strickland Metals boosts Rogozna resource with maiden MRE for Medenovac prospect

The maiden MRE for the Medenovac prospect is further evidence of Strickland’s ability to grow Rogozna, which it acquired in April 2024.

Covering approximately 184 square kilometres, Rogozna comprises four exploration licences.

Managing director Paul L’Herpiniere said the maiden MRE again demonstrates the growth potential of the Rogozna project, with an increase from the initial project-wide MRE of 5.41Moz gold equivalent.

“Delivering a maiden resource of 1.3Moz gold equivalent for the Medenovac deposit with an average grade of 1.9g/t further confirms the quality and scale of the Rogozna project,” Mr L’Herpiniere said.

Medenovac was only unearthed in late 2020, with the discovery hole into the core of the deposit returning a remarkable 352.1m intercept of continuous gold and base metals mineralisation.

Subsequent drilling delivered further exceptional intercepts of thick, high-grade mineralisation across the core of the deposit, underpinning a maiden MRE at a discovery cost of just US$3/oz gold equivalent.

“By global standards, this is a very high return on exploration investment, highlighting Rogozna’s large-scale mineralisation style,” Mr L’Herpiniere said.

“With approximately 6,800oz of gold equivalent per vertical metre through the core of the deposit, Medenovac is also expected to further enhance the significant development optionality that we see across the project, particularly when assessed alongside the Shanac and Gradina deposits.”

“This marks the beginning of another exciting year for Strickland, with multiple impending investment catalysts,” he said.

Strickland is preparing to begin a six-rig drilling program next month and release an updated MRE for the 4.63Moz gold equivalent Shanac deposit.

Strickland is currently finalising resource modelling and estimation work for Shanac, with the resource update scheduled for completion by late March 2025.

“We also expect to move quickly towards a maiden MRE for Gradina in the second half of the year—all of this will continue to elevate the project on the global stage,” Mr L’Herpiniere said.

Historical exploration at Rogozna spans from the Roman era to modern times.

Significant drilling activities were conducted between 1957 and 2022, including over 100,000m of diamond drilling, project-wide geophysics and geochemistry.

These programs have defined an extensive pipeline of more than 20 exploration targets.