The Board of Strickland Metals Limited (ASX:STK) announced the spin-off of Iroquois Zinc-Lead Project and Bryah Basin Project located in Western Australia on October 21, 2022. Strickland plans to undertake a full in-specie distribution of DemergerCo Shares to shareholders. The transaction is subject to approval by shareholders and board of directors of Strickland Metals Limited and approval by regulatory authorities.

Strickland Metals has received Heritage clearance for Iroquois and a number of surrounding targets to the north-west. This clearance will permit the DemergerCo to immediately undertake substantial drill programs at Iroquois. The transaction is expected to complete in first quarter of 2023.

Hamilton Locke Pty Ltd acted as legal advisor to Strickland Metals Limited.