The Horse Well gold camp hosts a current mineral resource of 5.77 million tonnes at 1.4g/t gold for 257,000 ounces and includes 109,000 gold ounces at the company’s Dusk ’til Dawn deposit.

Management says it remains well-funded for its ongoing exploration at Horse Well following its success at the nearby Millrose gold project that it sold last year to neighbouring mining giant Northern Star Resources.

The company raked in an initial cash deposit of $2 million from Northern Star for Millrose, before netting an additional $39 million in cash and was also issued 1.5 million fully-paid ordinary shares from the high-profile buyer. At the end of the March quarter, Strickland held a tidy sum of about $51.4 million in cash and Northern Star shares.

Buoyed by its latest results and with a string of further assays to come, the company is continuing to test its Horse Well area and expects to release a consistent news flow in the coming weeks and months.

It is also planning a detailed drill campaign at its Rogonza project in Serbia where it holds a 5.4 million-ounce gold equivalent resource that consists of 2.96 million gold ounces, 214,000 tonnes of copper and 364,000 tonnes of zinc from just two of four drill-defined deposits.

However, Strickland’s latest assays at Palomino show its earlier AC campaign was no fluke and places the company in a positive position to potentially replicate its Millrose success at Horse Well.

And the market appears to agree, with Strickland’s shares lifting more than 18 per cent during this morning’s intraday trading to touch a high of 11.5c from a previous close of 9.7c and with more than 7 million shares changing hands.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au