16th Jul 2014 11:28
LONDON (Alliance News) - Stratex International PLC Wednesday said it has received further positive results from drilling at its Dalafin project in Senegal, where broad zones of mineralisation have already been identified.
The AIM-listed exploration and development company, which focuses on gold and high-value base metals in Turkey, East Africa and West Africa, said the best result from two additional drilling holes on the Faré South region of the site was a 12 metre space at 7.09 grams per tonne of gold from 18 metres in depth.
The company said the additional drilling tested an eastern extension of the prospect following strong previous results from 48 drill holes, with the most encouraging results coming from Faré South.
Stratex said a high resolution geophysical survey has now been completed at the site and it is currently being reviewed to assist in planning for the next phase of drilling at Dalafin.
The company also carried out drilling at the Madina Bafé prospect nearby, which found regions including a 1.3 metre space at 61.84 grammes per tonne of gold and a 15 metre space at 6.10 grammes per tonne of gold.
Stratex said follow up drilling for both Madina Bafé and Faré South is planned for October.
"We continue to be very encouraged indeed by these results from what is still an early-stage drill programme," Chief Executive bob Foster said in a statement.
Stratex shares were up 2.2% to 2.99 pence on Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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