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Strickland Metals shares jump 39% ahead of drilling base metal target near DeGrussa

The target is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit.

Strickland Resources - Strickland Metals shares jump 39% ahead of drilling a base metal target near DeGrussa
Strickland’s Doolgunna Project is within the Bryah Basin of Western Australia.

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey

Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilometre strike.

Diamond core drilling

The company plans to start the diamond core drilling by the end of this month.

A multi-purpose drill rig has been contracted to enable the minimum planned program which will include four diamond holes designed to intersect the conductor at a 300-metre vertical depth on a 400-metre line spacing.

Additional shallow and deeper holes will be drilled as required and all holes will have down-hole electromagnetic surveying completed.

Once a VMS target is confirmed, the company will start infill and extension drilling and a larger heritage survey is scheduled for mid-November 2020 covering the full 5-kilometre target.

Quick facts: Strickland Resources

Price: 0.059 AUD

ASX:STK
Market: ASX
Market Cap: $24.79 m
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