Strickland Metals (ASX:STK) said that a mineral resource update at the Horse Well gold camp at its Yandal project in Western Australia, increased the project's resource base by 56%, according to a Monday Australian bourse filing.
The updated mineral resource estimate completed for the gold camp, resulted in additional resources of 143,400 gold ounces, amounting to 4.7 million tonnes of material at a grade of 1.94 grams per tonne of gold for 291,500 ounces.
The updated estimate represents a 56% increase in the project's gold resources from the 2019 mineral resource estimate of 257,000 ounces of gold and an increase in grade from 1.4 g/t grade of gold to 1.52 g/t.
The Yandal project's total inferred resources now stand at 8.2 million tonnes at 1.52 g/t grade of gold for 400,400 ounces of gold.
Future work will focus on growing resources through additional drilling, per the filing.
The firm's shares jumped 10% in recent trading on Monday.
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