Strickland Metals uncovers significant gold structure

Strickland Metals Limited (ASX: $STK) has revealed that ongoing work has linked the Bronco and Konik prospects at Horse Well, defining a 500m gold structure. The Company's Chief Executive Officer, Andrew Bray, highlighted the significance of this discovery, emphasizing the substantial project advancements resulting from the ongoing work and the potential for large-scale gold tonnage.

Executive Commentary on Bronco-Konik Trend

As mentioned in several previous announcements, Strickland has spent substantial time in recent months collating, reviewing and modelling data from last year's large drilling campaign. This ongoing work is continuing to yield significant project advancements. On 2 October 2023, we announced the Konik discovery in HWAC1488: 58m @ 1.7g/t Au from 17m to BOH. Approximately 250m to the south-west lies the historic Bronco prospect. Our initial thinking at the time was that both prospects were hosted on parallel structures, however it is now clear that they are part of the same structure. Bronco was initially discovered in the mid-1990s. It had since been subject to only one small follow up RC program in 2019. Historic drilling returned very impressive shallow oxide gold results, however due to the drilling pattern, mineralisation did not appear to show coherency section to section. This is evident from the orientation of drilling, whereby the rig was pointed in virtually every direction in an attempt to understand the mineralisation, albeit with little success. The drilling in HWAC1488 at Konik last year intersected the same basal horizon as observed historically at Bronco. This means both prospects are actually on the same structure, with the combined prospect area being a large bulk tonnage target. This new interpretation is also supported by other historic drilling, including HWRC125: 79m @ 1.0g/t Au from 10m - a result which lies in between Konik and Bronco, and which had historically never been fully explained or understood. Remodelling the prospect as a bulk tonnage target has allowed Strickland to determine the orientation of the mineralisation. The Bronco-Konik prospect dips to the west, plunges gently to the north-west, and remains entirely open both down-plunge and down-dip. Importantly, treating Bronco-Konik as a bulk-tonnage target does not limit the potential extensions to the higher grade zones of mineralisation intersected at depth. This development is also highly significant for Strickland as none of this gold mineralisation has been included in any historic resource calculations. Bronco-Konik will be drilled once the main drilling campaigns for 2024 commence.

Summary of Bronco-Konik Trend and Future Prospects

Strickland Metals Limited (ASX: $STK) has made significant progress in uncovering a large-scale gold structure, linking the Bronco and Konik prospects at Horse Well. The revelation that both prospects are part of the same structure has opened up the potential for a large bulk tonnage target, with a high-grade oxide zone at the surface. This development is crucial as none of this gold mineralisation has been included in any historic resource calculations. The Company's Chief Executive Officer, Andrew Bray, emphasized the importance of this discovery and highlighted the potential for further extensions to the higher grade zones of mineralisation intersected at depth. Strickland is well-funded and plans to commence drilling at Bronco-Konik once the main drilling campaigns for 2024 begin in April. Additionally, the Company is reviewing other prospect areas at Horse Well, with promising advancements expected to be released in the coming weeks. This progress marks a significant step forward for Strickland Metals as it continues to advance its Yandal Gold Project and explore the full potential of its mineral assets.