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STK - Strickland Metals

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One of those situations where the stock opens wayyyy up and then traders cut and run leaving a bunch of punters without a chair. Or, it could have been longer term holders just took the opportunity to unload. Ugly candle at the moment, unless you owned it yesterday.

 
Castle Minerals making some gains today on the back of this announcement. Their tenement applications are just a little further to the east. The Earaheedy Basin looks like a very prospective area. Lots of success so far.

EDIT: "Were" making some gains. They are back to 1.6c now.
 
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CDT still just holding up. I'm not sure if they've hit anything with their drilling yet?

It looks like you need to be along strike of the line between the Frere and Yelma formations to be in the hunt.

This is Castle's land with STKs (very roughly) in the blue box with where I approximate Iroquois to be compared to RTR and CDT's land.

So, Castle need to be aiming along that line I guess. Sioux looks to be just on it. Not sure what's special about that particular geology, haven't seen an explanation for it yet.




 
30 November 2021
HIGH GRADE GOLD INTERSECTED AT DUSK TIL DAWN ON THE YANDAL BELT

NUMEROUS HIGH GRADE INTERCEPTS TO ALLOW RAPID REMODELLING OF MINERAL RESOURCE

Highlights
• Excellent results returned from first drilling campaign at Dusk til Dawn
• Standout intercept in DTDR001 of 33m @ 3.6g/t Au from 61m
• Drilling confirms the Company’s new modelling of the gold mineralisation is correct
• Results open up two exciting ~10km corridors with up to twenty look-a-like targets

Any thoughts on latest data @greggles @Sean K ?
Was having a half hearted squiz at this and noticed they still have 3 ? drill assays outstanding which apparently, are due this month.

Chart looking ordinary but has at least filled the gap from the last pumpty humpty dumpty?
Not held, but will try to keep an eye on it.

 
frugal.rock said:
30 November 2021
HIGH GRADE GOLD INTERSECTED AT DUSK TIL DAWN ON THE YANDAL BELT

NUMEROUS HIGH GRADE INTERCEPTS TO ALLOW RAPID REMODELLING OF MINERAL RESOURCE
Click to expand...

Some good results there. Looks like the current envelope is about 200x100x200 so going to be an OK deposit. Most of the grades are pretty low though. Will be interesting to see what the deeper holes bring back.

Historic JORC was 5.7Mt@1.4g/t for 108K oz. That's about what 200x100x200 would get you. They'll need a few more of those to keep popping up on their already 603K ounces in that area.

I thought they were just running the nearology thing at the moment.
 
Seems to have filled the gap and consolidated and braved the market whipsaws.
Not held. No money!??

 
Looks like they do have an extension of what RTR have to the north. Just not sure if it's anywhere near as large as their potential. Grades good but the widths not as great. Not sure what the current strike is of Iroquois.

Sitting on support at about 6c.



 
Hmmm, I see more assay results are due mid Feb from the Dusk till Dawn/ Yandal gold project as reported on 17th Jan, 2022.

and
from 31st Jan, 2022 announcement
Highlights
• RC and Diamond rigs arrived on site
• Drilling underway on the Millrose resource expansion program

That big volume bar back in October is hard to ignore, imo.

It would seem they are quite busy and a decent flow of news is expected this year. ?
 
frugal.rock said:
That big volume bar back in October is hard to ignore, imo.
Click to expand...

That was the Earaheedy nearology thing. My guess is that it was cunning punters who were already set who sold into the not so cunning punters who bought the announcement. There's a bit of that going on. Happened with IBG when they announced the EXIM finance. Stock doubled on the day and then just got sold down. Not so cunning punters left without a chair.
 
Might have noticed that Gibb Diamonds (GIB) holds 20% of the tenement containing the Iroquois project. The 20% is free carried to completion of BFS.
They both have gold projects I see.
Cash $1m and 5m shares from Burgundy Diamond (BDM) likely to come in this March for GIB's diamond project. Another $4m and 7m shares to come to GIB march 2023 if BDM finally exercises option to buy.
GIB has a NT phosphate project it has scoped: 53mt @ 16% P2O5
GIB M.C = $14m
STK M.C = $82m

 
"Updated Mineral Resource
Work is ongoing for the remodelling of the Dusk til Dawn Mineral Resource.
The existing resource stands at 3,495,600 tonnes at 1.0g/t Au for 108,900 ozs Au.

The Company believes that correctly orientating the mineralised plunge will
potentially lead to a material increase in both grade and tonnage.

The results of this remodelling should demonstrate the excellent potential to build a substantial mineralised inventory in the immediate surrounding region should the nearby ‘look-a-like’ targets also be mineralised.

This updated Mineral Resource is expected to be announced in early February 2022."

From the last quarterly,
31st Jan, 2022
I note the Mineral Resource update has not been announced yet, neither has the outstanding "Dusk till Dawn" assays, as mentioned in my last post.

I also note the SP has started ranging on low volumes the last few days. (Potentially due to RTR announcement on 21st Feb, STK prospect further NW along Earaheedy Basin strike.)

 
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Definitely got something like RTR's but is it the same potential dimensions?





 
I've just remembered that there's 2 steaks in the fridge I should cook. STK ?
Might have steak and eggs for brekkie.
(Only Porterhouse cut though @barney )
My pick for May comp.

 
frugal.rock said:
I've just remembered that there's 2 steaks in the fridge I should cook. STK ?
Click to expand...

You might be onto something here. 25m @ 5.1 g/t is outstanding. That hole was drilled 200m from another hole that delivered 55m @ 2.4 g/t and it appears that both holes have likely intersected the same main ore zone.

There could be a lot of gold under the ground here.

 
Anyone check out today's announcement of the completion of the sale of their Millrose tenement to Northern Star?
STK's 13.5% rise today on strongish volume only brings their market cap to an estimated $68m yet I get the NST deal as worth about $58m in cash and shares!
Plus STK has two other gold resources that are also proximate to NST's Jundee Mill (Millrose is 30kms away in a direct line from Jundee). Also four other gold targets.

Not Held

 
My pick for October. Latest drill results have extended Marwari to 500m and they have intersected wide high grade gold at Palamino. On top of that Pegasus could provide another 3 km long prospect. With $61m in the kitty could get exciting.
 
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