MINEX Forum

Tag: Strickland Metals

  • Strickland Metals Faces Drilling Delay at Serbia’s Rogozna Gold Project as Ministry Approvals Stall and Community Protests Intensify

    Strickland Metals Faces Drilling Delay at Serbia’s Rogozna Gold Project as Ministry Approvals Stall and Community Protests Intensify

    Australian miner Strickland Metals has disclosed an unexpected delay to the launch of its exploration drilling programme at the Rogozna gold project in southern Serbia, after the country’s mining ministry has yet to approve expanded drilling work plans submitted more than five months ago.

    Strickland said in an ASX filing on Monday that it is awaiting ministry approval for the expansion of exploration drilling at the main Rogozna licence, which contains the existing Gradina, Shanac, Copper Canyon and Medenovac deposits. The company submitted the relevant approval documents in December 2024, noting that prior approvals have generally been obtained within three months of submission. The ministry had not responded to a request for comment at time of publication.

    The 8.6 million ounce gold equivalent Rogozna project spans approximately 184 square kilometres across four exploration licences. Strickland has said the project could potentially become one of the largest undeveloped gold deposits in the world and is targeting completion of a pre-feasibility study by mid-2027. While awaiting the main licence approval, the company said it has sufficient capacity under existing approved work programmes to proceed with drilling at the Obradov Potok and Jezerska Reka prospects, with preparatory works already underway.

    The permitting delay coincides with growing community opposition to the project. Local media reported protests in Novi Pazar, the city closest to Rogozna, and in recent weeks residents of nearby villages, students and environmental activists have been blocking forest roads leading to the site in an attempt to prevent further exploration activities, which they fear could lead to the opening of a mine with adverse environmental consequences.

    Strickland completed its acquisition of the project through Betoota Holdings and its Serbian subsidiary Zlatna Reka Resources in July 2024. Chinese mining giant Zijin holds a 5.55% stake in Strickland.

  • Strickland Metals Targets Major Growth with 70,000m Drill Campaign at Serbia’s Rogozna Gold Project

    Strickland Metals Targets Major Growth with 70,000m Drill Campaign at Serbia’s Rogozna Gold Project

    Strickland Metals has outlined an aggressive growth strategy for its Rogozna gold project in Serbia, positioning the asset as one of the largest undeveloped gold resources among ASX-listed explorers. The company plans to undertake a 70,000-metre drilling programme in 2026, the largest exploration campaign in the project’s history, ahead of delivering a Pre-Feasibility Study (PFS) in the first half of 2027.

    The Rogozna project currently hosts a total resource of 8.6 million ounces of gold equivalent (AuEq) across four defined deposits, representing a 58% increase from the 5.4 million ounces announced in 2024. The deposits include Gradina, Shanac, Medenovac and Copper Canyon, with Shanac accounting for the largest share at 5.3 million ounces AuEq. Gradina stands out for its higher grade, hosting 1.2 million ounces at 3.0g/t AuEq, offering strong underground mining potential with recoveries of around 90% through conventional flotation.

    Strategic validation has come from Zijin Mining, which holds a 4% stake in Strickland. Zijin is already the largest mining operator in Serbia, and its investment provides both technical endorsement and regional credibility.

    Serbia’s mining jurisdiction is considered favourable, located within the Western Tethyan Belt and home to multiple large porphyry systems. The country is Europe’s third-largest copper producer, with mining contributing approximately 2.7% of GDP. Major international operators including Rio Tinto and BHP are present in the country, reinforcing its status as an established mining destination.

    Recent drilling has delivered two new discoveries within 15 months. At Red Creek, located near Shanac, drilling returned intercepts including 53 metres at 2.3g/t AuEq. At Kotlovi, west of Medenovac, results included 277.3 metres at 1.3g/t AuEq. Both zones remain open in multiple directions, suggesting further resource growth potential.

    In February 2026, Strickland completed an oversubscribed A$55 million institutional placement, lifting its cash position to A$68.2 million and increasing institutional ownership to 38%. The company is fully funded through PFS completion in H1 2027, supporting both the large-scale drilling programme and ongoing technical studies.

    The 2026 programme will include resource expansion drilling, scoping studies, additional discovery testing across the 184km² licence area and porphyry exploration. Multiple resource updates are expected through late 2026, culminating in PFS delivery in early 2027.

    With a current market capitalisation of approximately A$592 million, the company trades at roughly US$49 per contained ounce of gold equivalent. The scale of the resource base, ongoing exploration success and strategic backing position Rogozna as one of the most significant gold development projects among ASX-listed companies.

  • Zijin to Lift Stake in Strickland Metals via A$55 Million Placement for Serbia Gold Project

    Zijin to Lift Stake in Strickland Metals via A$55 Million Placement for Serbia Gold Project

    China’s  is set to increase its shareholding in Australia’s  through a A$55 million institutional placement aimed at accelerating development of the Rogozna gold project in southern Serbia.

    Strickland said on Tuesday that Zijin will invest A$5 million in the placement, lifting its stake to 4.0% from 3.3%. The company plans to issue about 343.2 million fully paid ordinary shares at A$0.16 per share, according to a filing with the .

    Funds raised will support an expanded 70,000-metre drilling programme at Rogozna in 2026, with the aim of delivering updated resource estimates in late 2026 for the Shanac, Gradina and Copper Canyon deposits. Additional drilling is also planned at the Red Creek prospect following a recent discovery.

    The proceeds will further be used to advance a pre-feasibility study for Rogozna, targeted for completion in the first half of 2027. Earlier on Tuesday, Strickland reported a new high-grade gold and base metals discovery at Red Creek, its second since acquiring Rogozna in mid-2024.

    Last month, Strickland increased Rogozna’s inferred mineral resource estimate to 8.6 million ounces of gold equivalent from 7.4 million ounces, following a maiden estimate for the Gradina deposit. Rogozna comprises four exploration licences covering around 184 square kilometres and is considered a potential candidate to become one of the world’s largest undeveloped gold deposits.

    Zijin already has a significant presence in Serbia through its mining subsidiaries, operating copper and gold assets in the eastern part of the country, underscoring its growing interest in the region’s mineral potential.

  • Strickland Metals Delivers 1.2Moz Maiden Gold Resource at Gradina, Lifting Rogozna Project Scale

    Strickland Metals Delivers 1.2Moz Maiden Gold Resource at Gradina, Lifting Rogozna Project Scale

    Strickland Metals has announced a maiden mineral resource estimate of 1.2 million ounces of gold at its Gradina deposit, significantly enhancing the scale and quality of the broader Rogozna project. The resource carries an average grade of 3.0 g/t gold, a level the company says materially upgrades the overall inventory and underscores the high-grade nature of the discovery.

    The maiden resource was delivered at a discovery cost of just US$10 per ounce, representing a strong return on exploration investment. Managing director Paul L’Herpiniere described the result as outstanding, noting that recent drilling returned multiple high-grade, gold-dominant intercepts along the length of the deposit.

    Gradina’s geometry and grade profile make it well suited to long-hole open stoping, a low-cost underground mining method that uses gravity-assisted ore extraction. The deposit hosts an estimated 3,100 ounces of gold per vertical metre, supporting efficient underground development. Potential access via adits from the eastern flank of the project could further simplify mining and ore haulage.

    The resource has already been optimised using an underground mining model based on a US$2,500/oz gold price and a 1.5 g/t cut-off grade, leaving a wide margin at current gold prices, which are trading above US$4,200/oz.

    Mineralisation at Gradina remains open in all directions. Strickland plans further drilling in several priority areas, including a 10 m to 23 m-wide gap zone between two major resource blocks that has seen little or no testing to date. Additional drilling will also target extensions to the north, south and at depth, where mineralisation remains open over an 800 m strike length.

    Drilling continues across the Rogozna project, with two rigs currently focused on the gap zone and three additional rigs testing regional targets. The company’s next milestone is a resource update for its flagship Shanac deposit, expected early next year.

    Strickland remains well funded, reporting $41.8 million in cash and liquid assets at the end of September, providing ample runway to advance exploration and resource development through the coming year.

  • Strickland Metals Expands Gradina Deposit with High-Grade Gold and Zinc Intercepts

    Strickland Metals Expands Gradina Deposit with High-Grade Gold and Zinc Intercepts

    Strickland Metals has reported a fresh round of encouraging drilling results from its Gradina deposit, part of the 7.4-million-ounce Rogozna gold-equivalent project in Serbia. The latest assays returned several thick gold intervals, including 49 metres at 1.4 g/t gold from 331.2m, highlighted by 14.2m at 3.2 g/t from 365.9m and 6m at 6.2 g/t from 374.2m.

    Additional results included 44.3m at 1.1 g/t gold from 479m, 61.2m at 1.1 g/t from 181.8m with a higher-grade intercept of 5.4m at 6.4 g/t from 229.5m, and 29.9m at 1.3 g/t from 527.1m. A notable 36m section revealed combined gold and zinc mineralisation, grading 1.5 g/t gold and 4.1% zinc from 250m depth.

    “Gradina continues to deliver impressive results, with this latest batch of assays continuing to expand the deposit and reinforce its importance as a key driver of the next phase of resource growth at Rogozna,” said managing director Paul L’Herpiniere.

    Eight rigs are currently drilling across the Rogozna project, three of which are dedicated to Gradina, with the aim of defining a maiden mineral resource later this year. Mineralisation remains open in all directions, both at depth and up-dip towards surface.

    The company recently uncovered a new copper-gold zone at the nearby Shanac deposit, where drilling returned grades of up to 6.8% copper and thick gold-equivalent intercepts exceeding 300 metres.

    With gold prices at record highs near US$3,870 per ounce, Strickland is pressing ahead with a 50,000m drill campaign across Rogozna in 2025, targeting resource growth at both Gradina and Shanac. The company maintains a strong financial position, holding $52.4 million in cash and liquid assets, along with a 15.7% stake in Gateway Mining.

  • Strickland Metals Uncovers “Massive” Gold Find at Kotlovi Prospect in Serbia

    Strickland Metals Uncovers “Massive” Gold Find at Kotlovi Prospect in Serbia

    Australian mining company Strickland Metals has announced a major breakthrough at its Rogozna gold and base metals project in southern Serbia, reporting the discovery of a “massive” gold deposit at the newly identified Kotlovi prospect.

    In a statement released Wednesday, the company revealed that the first follow-up drill hole at Kotlovi delivered a 277.3-meter intercept grading 1.3 grams per tonne (g/t) gold equivalent, starting from a depth of 337.4 meters.

    “This first hole of our 2025 campaign at the new Kotlovi Prospect has been exceptional,” said Paul L’Herpiniere, Strickland’s Managing Director. “With several hundred metres of continuous mineralisation, including multiple higher-grade zones, Kotlovi is quickly becoming a key target for substantial resource growth.”

    Strickland has eight rigs currently active across the Rogozna project, with additional assay results expected in the coming weeks. The Kotlovi discovery sits just 350 metres west of the 1.28 Moz AuEq Medenovac deposit and joins three other major deposits already identified at Rogozna: the 5.30 Moz AuEq Shanac deposit, the 0.81 Moz AuEq Copper Canyon deposit, and the Gradina deposit—whose maiden resource estimate is expected by year-end.

    Covering 184 square kilometers and comprising four exploration licences, the Rogozna project holds an estimated 7.4 million ounces of gold equivalent to date, with potential to become one of the world’s largest undeveloped gold deposits. Strickland acquired full ownership of Rogozna in July 2024 through its $37 million acquisition of Betoota Holdings and its Serbian subsidiary, Zlatna Reka Resources.

    To accelerate exploration, Strickland also secured a AU$5 million investment from China’s state-owned Zijin Mining Group in April.

  • Strickland Metals Reports Further High-Grade Gold Hits at Serbia’s Rogozna Project

    Strickland Metals Reports Further High-Grade Gold Hits at Serbia’s Rogozna Project

    Australian miner Strickland Metals has announced a fresh series of high-grade gold intercepts at the Gradina prospect, part of its expansive Rogozna gold and base metals project in southern Serbia. The latest drill results confirm strong mineralisation at depth and bolster the company’s confidence in the site’s potential.

    Among the standout results were 34.4 metres grading 2.6 grams per tonne (g/t) of gold from a depth of 329.5 metres, including a higher-grade interval of 14.5 metres at 4.4 g/t from 332.1 metres, and another 4.0 metres at 4.0 g/t from 359.9 metres.

    “These latest results continue to demonstrate the continuity of the gold-dominant system towards the northern end of the deposit,” said Strickland Managing Director Paul L’Herpiniere. He added that further assay results are expected in the coming weeks, with a maiden Mineral Resource Estimate for Gradina targeted by late 2025.

    This marks the third set of high-grade gold intercepts from Gradina since May, reinforcing the site’s reputation as a key asset in the Rogozna portfolio. The broader Rogozna project spans 184 square kilometres and contains an estimated 7.4 million ounces of gold equivalent across four exploration licences. Strickland has said Rogozna has the potential to become one of the world’s largest undeveloped gold deposits.

    The company currently has eight drill rigs active on the project, with five focused on Gradina’s southern zone following the completion of drilling in the north.

    In April, Strickland secured a AU$5 million ($3.2 million) strategic investment from Chinese mining giant Zijin Mining Group to help accelerate development at Rogozna. That same month, Strickland completed a $37 million deal to acquire Betoota Holdings, which owns 100% of Zlatna Reka Resources — the Serbian entity holding the Rogozna project.

  • Strickland Metals Discovers Significant Gold Potential at Jezerska Reka Prospect in Serbia

    Strickland Metals Discovers Significant Gold Potential at Jezerska Reka Prospect in Serbia

    Australian mining company Strickland Metals has announced a major breakthrough at its Jezerska Reka prospect, part of the Rogozna gold and base metals project in southern Serbia. The company reported drilling through over 490 metres of porphyry-related veining, alteration, and gold anomalism, signaling promising potential for a large-scale discovery.

    The results from the second drill hole at Jezerska Reka revealed a 493-metre intercept grading 0.14 grams of gold per tonne, starting at a depth of 223.6 metres. Strickland’s Managing Director, Paul L’Herpiniere, described the findings as “highly encouraging,” emphasizing the prospect’s potential to significantly enhance the already substantial resource inventory of the Rogozna project.

    Earlier drilling at Jezerska Reka also yielded positive results, including a 94-metre intercept grading 0.4 grams of gold per tonne from a depth of 484 metres. The company plans to conduct additional drilling in early April to further explore the target area.

    This development follows Strickland’s recent announcement of a maiden mineral resource estimate (MRE) for the Medenovac prospect, which increased the Rogozna project’s total MRE to 6.69 million ounces of gold equivalent, up from 5.41 million ounces. Strickland believes the Rogozna site, currently comprising four prospects, could become one of the world’s largest undeveloped gold deposits.

    In a related move, Strickland finalized a $37 million agreement in April 2024 with Ibaera Capital Fund’s subsidiary ISIHC to acquire Betoota Holdings, the owner of Serbia’s Zlatna Reka Resources, which holds 100% of the Rogozna project.

  • Strickland Metals Eyes Promising Gold Discovery in Serbia’s Rogozna Project

    Strickland Metals Eyes Promising Gold Discovery in Serbia’s Rogozna Project

    Strickland Metals Ltd reports significant findings at its Rogozna Gold and Base Metals Project in Serbia, with recent drill results at the Kotlovi prospect showing strong gold and base metal mineralization. This includes highlights like 40.3 meters at 2.6 g/t gold and a notable segment of 17 meters at 3.5 g/t gold equivalent. These findings hint at a connection to the nearby Medenovac deposit, potentially enhancing the project’s overall resource potential. With further drilling underway, Strickland is keen to explore Kotlovi’s full scale, backed by a robust funding of AUD 41.1 million.

  • Strickland Metals Commences Phase Two Testing on Serbia’s Rogozna Gold Project

    Strickland Metals Commences Phase Two Testing on Serbia’s Rogozna Gold Project

    Strickland Metals has advanced to phase two metallurgical testing on its Rogozna gold and base metals project in Serbia, following successful initial results in 2021. A 400kg bulk sample from the Shanac deposit is being tested at an ALS Laboratory in Perth, managed by Macromet. This phase aims to refine metal recovery techniques for distinct deposit zones containing gold, copper-gold, and lead-zinc-silver. Preliminary results showed promising recovery rates, with high copper and gold concentrations. Completion is expected by mid-2025, supporting upcoming Rogozna scoping studies.