Strickland Metals has been encouraged by drilling that points to extensions of a high-grade gold zone in the 4.6-million-ounce gold-equivalent Shanac deposit within its Rogozna gold and base metal project.A drill intercept of 41m at 4 grams per tonne gold from 241m has expanded the zone to a lateral extent of 80m.The true width of the mineralisation remains unknown.The high-grade zone was discovered in August when 90m grading 4gpt from 244.5m was reported, including 24m at 10.5gpt from 296m.
News of todays results saw a slight uptick in market interest, with shares up 3% to A7.7c in morning trade.At that price, Strickland is capitalised at $170 million.Strickland had cash at the end of the September quarter of $17.1 million and shares in Northern Star valued at circa $24 million.The company spent around $10 million on exploration in the September quarter.Strickland's ultimate development ambitions at Rogozna are yet to be set out.
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