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Strickland Metals Upgrades Inferred Mineral Resource Estimate for Serbia Deposit; Shares Up 5%

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Strickland Metals (ASX:STK) updated the inferred mineral resource estimate (MRE) for the Gradina deposit, within its Rogozna project in Serbia, according to a Tuesday filing with the Australian bourse.

The mineral resource rose to 1.8 million ounces of gold grading 2.8 grams per tonne, a 50% increase in contained metal compared with the maiden Gradina MRE of 1.2 million tonnes grading 3 g/t, the filing said.

The upgrade increases the project's indicated and inferred MRE to 9.2 million ounces of gold equivalent, per the filing.

Shares rose 5% in morning trade on Tuesday.

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