Huge gold hit showcases major potential of Strickland Metals Serbian project

Core from Strickland Metals’ Kotlovi prospect showing skarn-hosted gold mineralisation with disseminated pyrite and carbonate veins from 349.4 metres downhole and assaying 4.4g/t gold.

Strickland Metals (ASX: STK) has unveiled a game-changing discovery at its Kotlovi prospect, part of the company’s Rogozna gold and base metals project in Serbia.

The company’s first follow-up drill hole of 2025 has delivered a staggering 277.3-metre intercept grading 1.3 grams per tonne (g/t) gold equivalent from 337.4m, cementing Kotlovi as another potential cornerstone of Rogozna’s extraordinary potential.

The project is just 350m west of the 1.28-million-ounce gold equivalent Medenovac deposit. The find signals a new chapter of growth for Strickland’s 7.4-million-ounce gold equivalent Rogozna project.

Strickland’s headline Kotlovi intercept comprises 0.9g/t gold, 0.1 per cent lead, 0.4 per cent zinc and 4.8g/t silver, with multiple higher-grade zones adding to the excitement.

Notably, the hole returned 163m assaying 1.4g/t gold, including 33.5m at 2.9g/t gold from 339.4m, with a high-grade core of 8.8m at 4.7g/t gold and a standout 2m at 15.3g/t gold.

Further down, a 67.4m hit at 1.5g/t gold from 421m included 15.1m going 2.7g/t gold, 12m grading 2.9g/t gold and 99.2m running 1g/t gold equivalent, including 6m at 2.2g/t gold equivalent, highlighting the deposit’s scale and diversity.

A final 4m assaying 2.6g/t gold equivalent from 837m underscores the further depth potential.

Kotlovi’s mineralisation, now defined across 200m of strike and open in all directions, mirrors the geological setting of Rogozna’s other skarn-hosted deposits, such as the company’s flagship 5.3-million-ounce gold equivalent Shanac resource, 4.5 kilometres southeast of Kotlovi.

The eastern zone of the intercepted zone hosts gold-dominant mineralisation tied to a steep, northeast-southwest trending structure, marked by a 1km-long surface gold-arsenic anomaly, which is yet to be fully tested. This zone, rich in pyrite (iron sulphide) within green garnet skarn, delivered the high-grade gold intercepts.

Meanwhile, the western zone features polymetallic mineralisation, with gold alongside zinc, lead and copper, driven by sphalerite (zinc sulphide) and pyrite.

The discovery’s proximity to Medenovac and its geological similarities to other Rogozna deposits amplify its significance. Kotlovi’s mineralisation, hosted in a hydrothermally altered andesite-limestone sequence transitioning to skarn at depth, abuts a quartz-diorite intrusion - a key control seen across Rogozna’s deposits.

With mineralisation open up-dip, the potential for a near-surface resource adds further allure.

Strickland’s aggressive exploration continues, with eight rigs turning rods across the Rogozna project. One rig is chasing Kotlovi extensions, while others target the company’s Jezerska Reka, Obradov Potok and Gradina prospects and its main show at Shanac. Assays from multiple holes are pending and the company expects to receive results soon.

Backed by a robust $32.7 million in cash and Northern Star shares as of June, Strickland is well-positioned to unlock Kotlovi’s full potential, which looks like it could become a major contributor to Rogozna’s resource base expansion.

For a company not unfamiliar with big hits, the Kotlovi discovery still marks a thrilling milestone, with its massive 277.3m intercept showcasing the prospect’s potential to become a major deposit.

As drilling accelerates, Kotlovi looks to be on the verge of significantly enhancing the already impressive 7.4-million-ounce gold equivalent Rogozna project, solidifying Strickland’s position as a leading explorer in Serbia’s mineral-rich landscape.

Is your ASX-listed company doing something interesting? Contact: office@bullsnbears.com.au