Strickland’s Ambitious Rogozna Campaign Raises Stakes Amid Exploration Risks

A Step Change in Exploration Ambition

Strickland Metals Limited (ASX: STK) is intensifying its push to unlock the full potential of the Rogozna Gold and Base Metals Project in Serbia, announcing a record-breaking 2025 exploration program. Building on a successful 2024 that saw the project’s resource base swell by approximately 2 million ounces of gold equivalent (AuEq) to 7.4Moz, the company is now deploying six diamond drilling rigs and planning more than 50,000 metres of drilling across multiple targets.

Managing Director Paul L’Herpiniere emphasised the company’s commitment to growth and advancement, noting the recent addition of ten technical and support staff in Serbia to support the ambitious work plan. With strong cash reserves of $34.8 million at the end of March 2025, supplemented by a $5 million strategic investment from Chinese mining giant Zijin Mining, Strickland is well positioned to sustain its aggressive exploration pace.

Focused Resource Growth at Gradina and Shanac

The Gradina deposit is a central focus for 2025, with approximately 40 holes (20,000m) designed to extend high-grade, gold-dominant mineralisation closer to surface and infill key zones. This drilling aims to underpin a maiden Mineral Resource Estimate targeted for release by late 2025. Four rigs are currently active in the northern Gradina area, with earthworks underway to extend drill access further south.

At Shanac, the company is drilling to expand a high-grade gold skarn zone discovered last year, with around 10 holes planned. Early assay results from the first two holes are expected imminently, which could provide important insights into the deposit’s potential. The program also seeks to better define higher-grade zones on the western side of the deposit, an area less explored to date.

Advancing Multiple Prospects and New Targets

Beyond Gradina and Shanac, Strickland is advancing drilling at Medenovac, Kotlovi, Obradov Potok, Jezerska Reka, Red Creek, and Cesme prospects. These targets offer a mix of high-grade extensions, early-stage discoveries, and geophysical anomalies. Notably, Kotlovi showed promising mineralisation in 2024, including a 12m intercept at 5.7g/t Au, prompting further drilling to define the system’s size.

Greenfields exploration is also a key pillar of the 2025 program. The company plans to explore for concealed porphyry copper-gold deposits beneath volcanic cover in the project’s central area, employing advanced geophysical techniques such as magnetotelluric and gravity surveys. This approach aims to identify the concealed centres of the Rogozna magmatic system, drawing parallels with world-class deposits like Grasberg-Ertsberg.

Strategic Positioning and Outlook

Strickland’s methodical and well-funded approach reflects a clear strategy to convert its substantial resource base into a robust, mineable asset. The company’s ongoing engagement with Zijin Mining, a major player in the global mining sector, adds strategic depth and potential for future collaboration.

Investors can expect a steady cadence of news flow throughout 2025, including assay results, resource updates, and exploration milestones. While exploration inherently carries risks, Strickland’s comprehensive program and strong financial backing position it well to deliver meaningful value growth at Rogozna.