9th Aug 2012 07:00
Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining
Stratex International Plc
('Stratex' or the 'Company')
Gold Mineralisation Confirmed by Initial Drill Programme at Blackrock Project, Ethiopia
Stratex International plc, the AIM-quoted exploration and development company operating in Turkey, East Africa and West Africa, is pleased to announce further results from its recently completed initial 33 hole drill programme on the Black Water Zone within its 95%-owned Blackrock epithermal gold licence in the Afar region of Ethiopia.
Highlights
·; Phase 1 of drill programme, over 4,745 metres, confirms extensive gold mineralisation within four veins of the Black Water Zone - Theodore, Baker, Oasis and Nesbitt. Stanley structure yet to be drilled
·; Mineralisation shows good continuity along strike and to depth where it remains open - drilling to date has only tested approximately 100 m vertical depth below the surface
·; Zones of hydrothermal breccias, discovered within the Theodore zone, have yielded the best intersections to date, including 0.25 m @ 15.97 g/t Au and 0.90 m @ 4.93 g/t Au
o These results indicate potential for high grades at depth
·; Numerous thick intersections of low-grade mineralised vein (up to 13.30 m) identified
·; Review of gold and multi-element results and further detailed sampling of the extensive known veins to be undertaken prior to further drilling in Q1 2013
·; Exploration also to commence on multiple vein systems in the nearby Calcite, Magdala, and Airstrip Zones
David Hall, Executive Director, East Africa, commented: "Completion of our initial drilling programme on the Black Water Zone at Blackrock has shown the potential of a major epithermal vein system and we are extremely encouraged by the geology, textures, and extent of the gold mineralisation observed to date.
"With just under 5,000 metres drilled so far, the Black Water prospect still has significant untested potential. Drilling in the Baker Zone, for example, intersected silica sinter material, which confirms previous data that the Black Water Zone, or at least part of it, is located at the top of the epithermal system. This indicates that deeper drilling is probably required to locate the high-grade mineralisation, and the presence of high gold contents in some breccia zones also strongly suggests that the gold-enriched material was sourced at depth. Our exploration has also demonstrated that the Nesbitt structure extends for some 800 metres under cover, beyond which the outcropping vein assayed 26.3 g/t Au.
"Our recently reported discovery of high-grade gold mineralisation in the outcropping Pandora vein in Djibouti is a reminder of the potential of what we believe to be a significant epithermal gold province. Our programme of exploration and drilling will continue in the Black Water Zone and will be extended to the other three systems identified within the wider Blackrock licence as we continue to explore this emerging new epithermal district."
Further Details
At the Company's Blackrock Exclusive Exploration Licence (EEL), 33 diamond drill holes have been completed for a total of 4,745 metres across four structures within the Black Water Zone - Theodore (16 holes), Baker (7 holes), Oasis (5 holes) and Nesbitt (5 holes). Extensive veining has also been observed within the fifth structure at Black Water, Stanley, although this is yet to be tested by drilling.
The drilling has returned multiple intersections of low-grade mineralisation, highlighted by the 0.1 g/t Au cut-off utilised in Table 1; these zones extend over widths of up to 17 metres. In addition to these broad mineralised zones, encouraging higher grades are observed in drill holes BW-DD-007 (Theodore), BW-DD-008 (Theodore), BW-DD-018 (Baker), BW-DD-19 (Baker), BW-DD-20 (Baker), and BW-DD-30 (Nesbitt) to BW-DD-33 (Nesbitt), albeit over narrower widths. Zones of hydrothermal breccia have yielded the best intersections to date, including 0.20 m @ 15.97 g/t Au and 0.90 m @ 4.93 g/t Au, both from Theodore.
The presence of silica sinter in drill hole BW-DD-023 (Baker) has confirmed previous surface observations and indicates that the Black Water Zone, or at least part of it, is located at the top of the epithermal system. Drilling to date has only tested approximately 100 metres below the surface; deeper systematic drilling is now required to fully test the potential for bonanza ore shoots. The presence of boiling zone textures and the observation of higher gold grades associated with breccias, that were injected from below, provides further support for the possibility of ore shoots at depth.
Table 1. Best intersections from remaining holes in Phase I drilling campaign in the Black Water Zone, Blackrock (0.1 g/t Au cut-off)
Hole | Structure | Dip (deg.) | From (m) | To (m) | Length (m) | Au (g/t) |
BW-DD-007 | Theodore | -45 | 62.60 | 73.00 | 10.40 | 0.78 |
including | 63.75 | 64.00 | 0.25 | 15.97 | ||
and | 96.30 | 97.32 | 1.02 | 0.43 | ||
BW-DD-008 | Theodore | -60 | 25.96 | 27.50 | 1.54 | 0.69 |
and | 44.40 | 55.14 | 10.74 | 0.28 | ||
and | 89.00 | 100.50 | 11.50 | 0.56 | ||
including | 95.40 | 96.30 | 0.90 | 4.93 | ||
BW-DD-010 | Theodore | -45 | 28.60 | 35.86 | 7.26 | 0.21 |
and | 38.40 | 41.70 | 3.30 | 0.18 | ||
and | 46.88 | 52.91 | 6.03 | 0.17 | ||
and | 55.44 | 58.59 | 3.15 | 0.28 | ||
BW-DD-011 | Theodore | -45 | 50.50 | 61.95 | 11.45 | 0.18 |
including | 50.50 | 55.00 | 4.50 | 0.27 | ||
and | 68.51 | 70.82 | 2.31 | 0.20 | ||
including | 69.73 | 70.32 | 0.59 | 0.40 | ||
BW-DD-013 | Theodore | -45 | 54.45 | 63.60 | 9.15 | 0.19 |
including | 58.50 | 59.00 | 0.50 | 1.17 | ||
and | 68.00 | 71.40 | 3.40 | 0.26 | ||
including | 69.10 | 69.70 | 0.60 | 0.71 | ||
and | 77.40 | 83.52 | 6.12 | 0.11 | ||
BW-DD-014 | Theodore | -45 | 55.20 | 64.65 | 9.45 | 0.12 |
including | 55.20 | 55.45 | 0.25 | 0.22 | ||
and | 66.20 | 69.25 | 3.05 | 0.12 | ||
including | 68.85 | 69.25 | 0.40 | 0.31 | ||
and | 79.88 | 87.85 | 7.97 | 0.14 | ||
including | 86.78 | 87.00 | 1.40 | 0.31 | ||
BW-DD-015 | Theodore | -45 | 52.20 | 54.22 | 2.02 | 0.91 |
including | 52.20 | 53.25 | 1.05 | 1.38 | ||
BW-DD-016 | Theodore | -45 | 84.76 | 93.39 | 8.63 | 0.16 |
including | 84.98 | 85.47 | 0.49 | 0.25 | ||
BW-DD-017 | Baker | -45 | 39.43 | 41.20 | 1.77 | 0.30 |
including | 39.43 | 40.29 | 0.86 | 0.36 | ||
and | 45.10 | 60.28 | 15.18 | 0.14 | ||
including | 46.70 | 48.10 | 1.40 | 0.26 | ||
and | 63.14 | 66.10 | 2.96 | 0.72 | ||
including | 63.56 | 64.52 | 0.96 | 1.42 | ||
BW-DD-018 | Baker | -45 | 23.76 | 26.36 | 2.60 | 0.20 |
including | 25.06 | 26.36 | 1.30 | 0.30 | ||
and | 39.77 | 42.90 | 3.13 | 0.37 | ||
including | 41.70 | 42.90 | 1.20 | 0.46 | ||
and | 47.40 | 59.48 | 12.08 | 0.15 | ||
including | 58.50 | 59.48 | 0.98 | 0.26 | ||
and | 63.54 | 68.00 | 4.46 | 1.27 | ||
including | 63.54 | 66.08 | 2.54 | 2.10 | ||
including | 63.54 | 64.58 | 1.04 | 3.58 | ||
and | 74.40 | 75.90 | 1.50 | 0.50 | ||
including | 74.40 | 75.08 | 0.68 | 0.91 | ||
BW-DD-019 | Baker | -45 | 25.42 | 29.93 | 4.51 | 0.96 |
including | 27.30 | 29.93 | 2.63 | 1.00 | ||
including | 28.15 | 28.60 | 0.45 | 2.60 | ||
BW-DD-020 | Baker | -45 | 38.82 | 41.40 | 2.58 | 0.32 |
including | 38.82 | 39.10 | 0.28 | 1.96 | ||
BW-DD-021 | Baker | -45 | 21.70 | 33.65 | 11.95 | 0.13 |
including | 21.70 | 22.20 | 0.50 | 0.44 | ||
and | 56.00 | 64.70 | 8.70 | 0.23 | ||
including | 59.16 | 59.78 | 0.62 | 0.59 | ||
BW-DD-023 | Baker | -45 | 15.50 | 16.30 | 0.80 | 0.46 |
including | 15.90 | 16.30 | 0.40 | 0.76 | ||
and | 19.50 | 21.88 | 2.38 | 0.16 | ||
including | 21.14 | 21.88 | 0.74 | 0.20 | ||
and | 26.80 | 40.10 | 13.30 | 0.28 | ||
including | 38.00 | 39.00 | 1.00 | 0.63 | ||
BW-DD-024 | Oasis | -45 | 34.04 | 36.76 | 2.72 | 0.21 |
including | 34.56 | 35.26 | 0.70 | 0.37 | ||
BW-DD-025 | Oasis | -45 | 75.69 | 79.44 | 3.75 | 0.17 |
including | 79.00 | 79.44 | 0.44 | 0.47 | ||
and | 73.20 | 74.16 | 0.96 | 0.14 | ||
and | 84.55 | 85.54 | 0.99 | 0.11 | ||
and | 107.22 | 107.70 | 0.48 | 0.18 | ||
BW-DD-026 | Oasis | -45 | 75.35 | 79.50 | 4.15 | 0.17 |
including | 77.00 | 78.49 | 1.49 | 0.18 | ||
and | 2.30 | 2.80 | 0.50 | 0.12 | ||
and | 11.40 | 14.40 | 3.00 | 0.13 | ||
and | 34.74 | 35.00 | 0.26 | 0.42 | ||
and | 43.60 | 44.36 | 0.76 | 0.42 | ||
and | 70.00 | 71.77 | 1.77 | 0.12 | ||
BW-DD-027 | Oasis | -45 | 80.00 | 81.00 | 1.00 | 0.13 |
and | 24.50 | 25.01 | 0.51 | 0.10 | ||
and | 42.13 | 42.46 | 0.33 | 0.13 | ||
and | 71.30 | 72.08 | 0.78 | 0.12 | ||
and | 83.04 | 83.30 | 0.26 | 0.13 | ||
BW-DD-028 | Nesbitt | -45 | 50.34 | 50.78 | 0.44 | 0.15 |
and | 80.57 | 80.85 | 0.28 | 0.11 | ||
BW-DD-029 | Oasis | -45 | 52.46 | 61.50 | 9.04 | 0.11 |
including | 60.50 | 61.50 | 1.00 | 0.11 | ||
including | 52.46 | 55.30 | 2.84 | 0.14 | ||
and | 34.15 | 37.30 | 3.15 | 0.12 | ||
including | 35.15 | 35.52 | 0.37 | 0.29 | ||
and | 64.75 | 67.70 | 2.95 | 0.15 | ||
including | 64.75 | 65.85 | 1.10 | 0.20 | ||
and | 44.40 | 45.00 | 0.60 | 0.13 | ||
and | 21.00 | 23.00 | 2.00 | 0.21 | ||
and | 30.26 | 31.00 | 0.74 | 0.15 | ||
and | 7.80 | 8.50 | 0.70 | 0.24 | ||
and | 32.30 | 32.90 | 0.60 | 0.16 | ||
BW-DD-030 | Nesbitt | -45 | 48.70 | 51.22 | 2.52 | 0.43 |
including | 49.35 | 49.70 | 0.35 | 0.97 | ||
and | 46.10 | 47.03 | 0.93 | 0.13 | ||
and | 84.63 | 85.25 | 0.62 | 0.13 | ||
BW-DD-031 | Nesbitt | -45 | 48.00 | 50.97 | 2.97 | 0.26 |
and | 51.85 | 52.80 | 0.95 | 1.23 | ||
including | 52.25 | 52.80 | 0.55 | 1.51 | ||
and | 72.15 | 73.80 | 1.65 | 0.49 | ||
BW-DD-032 | Nesbitt | -45 | 7.93 | 9.40 | 1.47 | 0.34 |
and | 31.73 | 32.40 | 0.67 | 0.67 | ||
and | 33.80 | 34.60 | 0.80 | 0.38 | ||
and | 42.50 | 43.88 | 1.38 | 1.38 | ||
including | 43.50 | 43.88 | 0.38 | 4.42 | ||
BW-DD-033 | Nesbitt | -45 | 1.00 | 6.40 | 5.40 | 0.20 |
and | 8.00 | 10.05 | 2.05 | 0.15 | ||
and | 14.30 | 16.85 | 2.55 | 0.63 | ||
including | 14.67 | 15.00 | 0.33 | 2.60 | ||
and | 39.40 | 40.80 | 1.42 | 1.08 | ||
Including | 39.40 | 40.00 | 0.60 | 2.27 | ||
and | 41.30 | 42.36 | 1.06 | 0.43 | ||
and | 44.30 | 45.20 | 0.90 | 3.12 | ||
including | 44.70 | 45.20 | 0.50 | 4.97 |
Drill holes BW-DD-13, 14, 16, 17 and 18 were terminated early due either to bad ground or in one case to lack of available drill rods. BW-DD-22 was abandoned.
Table 2. Previously announced intersections from Phase I drilling at Blackrock (0.2 g/t Au cut-off; press release dated 14 March 2012)
BW-DD-001 | -45 | 18.30 | 19.00 | 0.70 | 0.48 |
and | 32.00 | 34.20 | 2.20 | 0.24 | |
including | 32.00 | 33.30 | 1.30 | 0.30 | |
and | 106.90 | 108.90 | 2.00 | 0.26 | |
BW-DD-002 | -65 | 6.10 | 6.70 | 0.60 | 0.29 |
and | 63.85 | 66.26 | 2.41 | 0.27 | |
BW-DD-003 | -45 | 14.00 | 16.00 | 2.00 | 0.35 |
and | 21.52 | 26.17 | 4.65 | 0.51 | |
including | 23.20 | 24.65 | 1.45 | 0.67 | |
and | 33.54 | 35.70 | 2.16 | 0.40 | |
and | 74.00 | 75.38 | 1.38 | 0.30 | |
and | 79.10 | 83.40 | 4.30 | 0.32 | |
and | 88.06 | 89.00 | 0.94 | 0.22 | |
BW-DD-006 | -45 | 31.00 | 32.50 | 1.50 | 0.32 |
and | 54.00 | 55.18 | 1.18 | 0.36 | |
BW-DD-009 | -45 | 35.60 | 36.55 | 0.95 | 0.81 |
43.00 | 44.00 | 1.00 | 0.23 | ||
and | 66.80 | 67.20 | 0.40 | 0.48 | |
and | 71.00 | 73.45 | 2.45 | 0.42 | |
107.20 | 108.30 | 1.10 | 0.46 |
Review of all the gold and multi-element results to date is now underway. This will be followed by further detailed mapping and interpretation of drill targets, with a view to recommencing drilling on the licence by Q1-2013.
For further information on the Blackrock and other Afar Project prospects, please visit:
http://www.stratexinternational.com/operations/exploration/ethiopia-djibouti/afar-project.aspx
Sampling, assaying, and Quality Assurance / Quality Control
Stratex's sampling of outcropping rocks, drill core, and other geological materials conforms to industry-wide good practice, with chain of custody being observed for all samples. Gold analysis is undertaken by ALS Chemex at its laboratories in Romania and South Africa and the Company maintains QA/QC on all analytical work via the use of certified reference materials, field duplicates, and blank samples in addition to monitoring of internal laboratory check-analyses.
David J. Hall, Executive Director East Africa, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information
* * ENDS * *
For further information please visit www.stratexinternational.com, email [email protected], or contact:
Stratex International Plc | Tel: +44 (0)20 7830 9650 |
|
David Hall / Bob Foster / Claire Bay
| ||
Grant Thornton Corporate Finance | Tel: +44 (0)20 7383 5100 | |
Gerry Beaney / Melanie Frean
| ||
Northland Capital Partners Limited | Tel: +44 (0)20 7796 8800 | |
Gavin Burnell / Tim Metcalfe John-Henry Wicks / John Howes (Sales)
| ||
Newgate Threadneedle | Tel: +44 (0)20 7653 9850 | |
Josh Royton / Beth Harris | ||
Notes to editors:
Stratex International is an AIM-quoted exploration and development company focussed on gold and high-value base metals in Turkey, East Africa and West Africa. Since listing on AIM in 2006, Stratex has had an impressive track record of successful exploration supported by joint-venture partnerships, both with major international mining companies and local companies to maximise the potential of its discoveries.
It currently has a substantial portfolio of projects, with two in Turkey that are scheduled for gold production in 2013. To date Stratex has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver, as well as 186,000 tonnes of copper.
“Breccia” | Rock composed of sharp-angled fragments embedded in a fine-grained matrix |
"Calcite" | A mineral composed of calcium carbonate |
"Epithermal system" | Formed from hydrothermal solutions within about one kilometre of the Earth's surface in the range of 50-200 °C. Typically found in volcanic rocks; chief metals are gold, silver, copper, lead and zinc |
“Silica” | A white or colourless crystalline compound, SiO2, occurring abundantly as quartz, sand, flint, agate, and many other minerals and used to manufacture a wide variety of materials, especially glass and concrete |
"Sinter" | A chemical sediment or crust, as of porous silica, deposited by a mineral spring |
Related Shares:
Oriole Resources