Highlights

  • Strickland Metals shares have delivered a one-year returns of 162.5% as on 20 January 2026.
  • Shanac drilling delivers multiple high-grade and bulk tonnage zones, contributing to upcoming resource update.
  • Copper Canyon results reveal continued copper-gold mineralisation, adding depth to the Rogozna Project.
  • Canaccord Genuity maintains Buy rating at AUD 0.65, reflecting exploration progress and strong stock performance.

Shares of Strickland Metals Ltd (ASX:STK) have risen on Tuesday (20 January 2026) following the release of new drill results from the company’s Rogozna Project in Serbia. The share has delivered a one-year returns of 162.5% as on 20 January 2026 and increased by 40% over the past six months. The stock has attracted investor interest in response to both the latest Shanac deposit assays and the ongoing Copper Canyon drilling program.

Canaccord Genuity Research has maintained a buy rating with a target price of AUD 0.65. The broker’s positive rating is likely to be supported by the combination of high-grade intercepts at Shanac deposit, additional copper-gold mineralisation at Copper Canyon, and a well-funded cash position. These developments provide a basis for anticipated resource growth and support market valuation assumptions.

Exploration Results Strengthen Operational and Market Performance

On 20 January, Strickland Metals released assay results from three diamond drill holes at the 5.3Moz AuEq Shanac Deposit, showing a mix of bulk tonnage and higher-grade mineralisation. Highlights include an intercept over 110m averaging 1.7g/t AuEq, containing a 28m section at 2.7g/t AuEq, which includes a standout 7m interval at 6.0g/t AuEq. Another drill returned nearly 140m at 1.2g/t AuEq, including 23m grading 2.6g/t AuEq. The third drill hole revealed discrete high-grade zones, with 2m at 10.9g/t AuEq and 5.3m at 4.3g/t AuEq, as well as 34m averaging 1.2g/t AuEq, featuring 10m at 2.3g/t AuEq. These results are expected to feed into the upcoming Shanac Mineral Resource Estimate, scheduled for release in the March Quarter, and have contributed to investor attention in the stock.

In December, Strickland Metals reported new drilling results from the 0.81Moz AuEq Copper Canyon Deposit, revealing both broad copper-gold zones and higher-grade intervals. One drill hole intercepted 135m averaging 0.6% Cu and 0.1g/t Au, including a 16.6m section grading 1.6% Cu, while deeper in the same hole, 36m returned 1.3g/t Au, demonstrating continuity of mineralisation. A second hole recorded 143m averaging 0.3% Cu and 0.3g/t Au, including a higher-grade 13m interval grading 1.3% Cu and 0.8g/t Au. These results build on earlier discoveries and highlight Copper Canyon’s potential alongside the flagship Shanac deposit within the broader Rogozna Project.

The combination of the latest Shanac and Copper Canyon drill results, along with its outperforming yearly returns, continues to provide the basis for the broker’s Buy rating and AUD 0.65 target. With the Shanac Mineral Resource Estimate due in the March Quarter and further assay results pending across the Rogozna Project, the company maintains ongoing news flow that is closely followed by the market. These developments underscore the continuing exploration progress and the scale of mineralisation across the project’s multiple deposits.