The All Ordinaries Index (ASX: XAO) is down 0.4% in morning trade today, but that's not holding back this soaring ASX All Ords gold stock.
The outperforming company in question is Strickland Metals Ltd (ASX: STK).
Shares in the Aussie gold miner closed yesterday trading for 21 cents. At tithe me of writing, shares are swapping hands for 21.5 cents each, up 2.4%.
With today's gains factored in, this sees the Strickland Metals share price up an eye-popping 168.8% since this time last year.
Part of that stellar rise has been driven by the soaring gold price. Gold is currently trading for US$4,666 per ounce, putting the gold price up 70% over 12 months.
But Strickland Metals has hardly been sitting idle.
Here's what investors are mulling over today.
Image source: Getty Images
ASX All Ords gold stock gains on drilling results
Before market open this morning, Strickland reported on a fresh batch of assay results from three diamond drill-holes. The holes were drilled at Strickland's 5.3-million-ounce gold equivalent (AuEq) Shanac Deposit, which is located within its 100%-owned 8.6Moz AuEq Rogozna Project in Serbia.
The ASX All Ords gold stock highlighted that the significant new intercepts from its diamond drilling campaign demonstrate the potential of both bulk tonnage and higher-grade mineralised zones within the Shanac Deposit.
Among the top results, Strickland reported 37.2 metres at 1.1 grams of gold equivalent per tonne from 284.4 metres; and 113.4m at 1.7g/t AuEq from 451.0 metres, including 28.0m at 2.7g/t AuEq from 532.4 metres.
Investors can expect further updates from the exploratory drill campaign, with assays still pending for multiple holes from across the Rogozna Project. The ASX All Ords gold stock expects to receive those results in the coming weeks.
On the funding side, as at 30 September, Strickland Minerals held cash and liquids totalling $41.8 million.
What did management say?
Commenting on the results that look to be boosting the ASX All Ords gold stock today, Strickland managing director Paul L'Herpiniere said, "The three diamond holes reported in this announcement all returned outstanding zones of strong copper-gold mineralisation, reinforcing the scale, quality and potential of our cornerstone ~5.3Moz AuEq Shanac Deposit."
L'Herpiniere added:
We are pleased to see that the latest holes have also provided further definition of the higher-grade zones within the deposit, with the results to contribute towards an updated Mineral Resource Estimate for Shanac – which remains on track to be reported later this quarter.
Against the backdrop of record metal prices, and with an aggressive ongoing exploration commitment, strong expected news-flow and a strong balance sheet, Strickland is poised for another exceptional year in 2026.
