ASX All Ords gold stock Strickland Metals Ltd (ASX: STK) is off to the races today.
Strickland Metals shares closed yesterday trading for 17 cents apiece. In early morning trade on Thursday, shares are changing hands for 19 cents apiece, up 11.8%.
For some context, the All Ordinaries Index (ASX: XAO) is up 0.8% at this same time.
With today's intraday boost factored in, shares in the ASX All Ords gold stock are up a whopping 137.5% over the last 12 months.
Here's what's piquing investor interest today.
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ASX All Ords gold stock lifts off on exploration results
Investors are bidding up Strickland Metals shares following a fresh set of promising drill results.
The miner has been actively drilling at its 100% owned Rogozna Gold & Base Metals Project, located in Serbia.
This morning, the ASX All Ords gold stock reported assay results from two recently completed diamond drill-holes at its cornerstone 5.3 million ounce gold equivalent Shanac Deposit. That's one of four skarn-hosted gold and base metals deposits within the 7.4 million ounce gold equivalent Rogozna Project.
And, as you can likely guess from investors' positive reactions today, those assay results are juicy.
Results from the first hole were reported to be:
- 0m at 1.9g/t AuEq from 387.5m including:
- 7m at 3.1g/t AuEq from 387.5m; and
- 9m at 1.8g/t AuEq from 497.7m
And the second hold intersected:
- 1m at 1.0g/t AuEq from 349.3m; and
- 7m at 1.8g/t AuEq from 462.9m, including:
- 1m at 2.9g/t AuEq from 492.7m
What did management say?
Commenting on the assay results sending the ASX All Ords gold stock soaring today, Strickland Metals managing director Paul L'Herpiniere, said, "These excellent new drill results reinforce the robustness and quality of the high-grade copper-gold mineralisation discovered at Shanac earlier this year in the central part of the deposit, on the western side of the central domain."
L'Herpiniere added:
Both holes reported in this announcement have delivered very wide zones of strong gold-copper mineralisation, building on the results from this part of the deposit reported in August.
The results clearly reinforce the potential for both bulk tonnage style mineralisation and higher-grade zones within the deposit, highlighting the potential for growth in the current 5.3 million ounce gold equivalent Mineral Resource.
We look forward to reporting further results from Shanac in the coming weeks as we close-in on an updated Mineral Resource Estimate for the deposit in early 2026.
The ASX All Ords gold stock currently has seven diamond drilling rigs operating across the Rogozna Project.
Strickland highlighted that it remains well-funded, with cash and liquids as at 30 September totalling $41.8 million.
Stay tuned!
