ASX All Ords gold stock Strickland Metals Ltd (ASX: STK) is marching higher today.
Strickland Metals shares closed yesterday trading for 18 cents apiece. In morning trade on Wednesday, shares are changing hands for 18.5 cents apiece, up 2.8%.
For some context, the All Ordinaries Index (ASX: XAO) is also just about flat at this same time.
With today's intraday gains factored in, the Strickland Metals share price is up 105.6% in 2025.
Here's what's happening with the ASX gold miner.
ASX All Ords gold stock announces 1.2-million-ounce MRE
Stickland Metals shares are in the green today after the ASX All Ords gold stock announced a maiden Mineral Resource Estimate (MRE) for the Gradina Deposit. Gradina sits within Stickland's 100%-owned Rogozna Gold and Base Metals Project, located in Serbia.
The maiden MRE came in at 12 million tonnes at 3 grams of gold per tonne (12Mt at 3g/t Au). That equates to 1.2 million ounces of gold. And it lifts the total inferred MRE at the Rogozna Project by 16% to 8.6 million ounces of gold equivalent (AuEq).
The miner highlighted that the discovery cost was only US$10 per ounce.
And the ASX All Ords gold stock noted that the mineralisation remains open in all directions, with "significant near-term growth potential" in a number of adjacent areas where it will conduct further exploratory drilling in 2026.
Drilling is ongoing at the Rogozna Project, with two rigs drilling the so-called Gradina "gap zone", while three rigs are focused on discovery drilling across the broader project area.
Strickland said it is well-funded to support the ongoing drilling campaign, reporting cash and liquids of $41.8 million as at 30 September.
What did management say?
Commenting on the maiden resource estimate that's helping boost the ASX All Ords gold stock today, Strickland managing director Paul L'Herpiniere, said, "Delivering a maiden resource of 1.2Moz Au for the Gradina Deposit, with an average grade of 3.0g/t Au, is an outstanding result which reinforces the quality and scale of the Rogozna Project."
L'Herpiniere added:
Recent drilling at Gradina has delivered some exceptional intercepts of high-grade, gold-dominant mineralisation across the length of the deposit, underpinning a substantial maiden MRE at a discovery cost of just $US10/oz. By global standards, this is a very high return on exploration investment, highlighting the value that Rogozna's large-scale mineralisation style offers.
Looking ahead, L'Herpiniere said, "This latest update follows the substantial MRE updates posted earlier this year and sets the scene for continued growth into 2026, with an updated MRE for the cornerstone Shanac Deposit due in early 2026."
