Shares of Strickland Metals (ASX:STK) have risen as much as 13.2% to A$0.060, marking their highest level since October 2022.

The company disclosed that drilling has extended the target zone to 500 metres at the Marwari trend, located in the Horse well prospect of its Yandal Gold Project in Western Australia.

It was further revealed that there was an intersection of wide high-grade gold at the Palomino prospect in the same project.

Approximately 7.8 million shares changed hands, compared with the 30-day average volume of 2.0 million.

As of the last close, the stock was up 32.5% year-to-date.

Strickland Metals is a company involved in mineral exploration, primarily focusing on gold projects.