ASX All Ords gold stock Strickland Metals Ltd (ASX: STK) is slipping today.
Strickland Metals shares closed on Friday trading for 20 cents. In morning trade on Monday, shares are swapping hands for 19.7 cents apiece, down 1.5%.
For some context, the All Ordinaries Index (ASX: XAO) is up 0.1% at this same time.
Despite today’s intraday dip, the Strickland Metals share price is up a jaw-dropping 146.3% in 12 months. Or enough to turn an $8,000 investment into $19,704.
Here’s what’s catching investor interest today.
ASX All Ords gold stock hits new targets
Strickland Metals shares have yet to get a fresh lift after the miner reported promising new exploratory drilling results from its Kotlovi Prospect, returning a series of high-grade gold intercepts.
Highlights from one hole returned 34.9 metres at 2.2g/t Au [grams of gold per tonne] from 324.2 metres, including 14 metres at 4.1g/t Au from 328.2 metres.
The emerging new discovery sits within the ASX All Ords gold stock’s 100%-owned 7.4 million ounce gold equivalent (AuEq) Rogozna Gold and Base Metals Project, located in Serbia.
The miner said it has received assays for multiple recently completed drill-holes at the Kotlovi Prospect, noting the new prospect was discovered in scout drilling in 2024, just 350 metres west of the 1.28 million ounce AuEq Medenovac deposit.
Strickland has now defined mineralisation along a 300 metre strike, which remains open in all directions.
The ASX All Ords gold stock reported that drilling continues apace. Strickland has seven rigs operating across its Rogozna Project. Assay results are still pending for multiple holes, with management expected to release further results in the coming weeks.
What did management say?
Commenting on the ASX All Ords gold stock’s new drill results today, Stickland managing director Paul L’Herpiniere, said, “Kotlovi is continuing to shape up as an important new discovery at Rogozna, with the potential to make a significant contribution to the project’s overall growth trajectory.”
L’Herpiniere added:
These latest drill results have further expanded the known mineralisation, which now extends over a 300 metre strike length. Several holes have now returned thick zones of strong mineralisation, with the mineralised zone still open in all directions offering further significant upside.
Given its strategic location just 350 metres from the 1.28 million ounces of gold equivalent Medenovac Deposit and the growing scale of the mineralisation, Kotlovi looks like it will feature prominently in our ongoing drilling and development plans.
Strickland said it remains well-funded, with cash and liquids totalling $41.8 million at 30 September.
The post Up 146% in a year, ASX All Ords gold stock reveals ‘significant upside’ exploration results appeared first on The Motley Fool Australia.
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More reading
- Guess which ASX All Ords gold stock is leaping 12% on big Serbian news
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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