21st May 2012 07:00
Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining
Stratex International Plc
('Stratex' or the 'Company')
Further Multiple High Grade Values on Pandora Vein, Djibouti - including 20.35 g/t Au over 1.9 metres
Stratex International plc, the AIM-quoted exploration and development company focussed in Turkey, East Africa and West Africa, is pleased to announce further encouraging results from its on-going channel-chip sampling on the main 1,500 metre Pandora epithermal gold vein, in the Oklila Exclusive Exploration Licence in the Republic of Djibouti, East Africa.
Highlights
·; Multiple sample intervals return > 10 g/t Au:
20.35 g/t Au over 1.90 metres (P-CH-17)
11.66 g/t Au over 3.00 metres (PS-CH-4)
11.91 g/t Au over 2.60 metres (P-CH-22)
11.03 g/t Au over 0.55 metres (P-CH-6)
12.17 g/t Au over 2.07 metres (P-CH-23)
·; Wide gold-mineralised zones > 10 metres identified including:
13.90 metres @ 5.35 g/t Au (PS-CH-4)
23.28 metres @ 1.52 g/t Au (P-CH-29)
13.50 metres @ 2.14 g/t Au (PS-CH-3)
18.31 metres @ 1.43 g/t Au (P-CH-30)
·; Excellent continuity of gold grades now demonstrated over more than 1,000 metre strike of Pandora gold vein
David Hall, Executive Director East Africa, said: "These extremely exciting results are now the best surface sampling results of any discovery to date in the Afar epithermal province and continue to demonstrate the potential for discovery of high grade gold systems in the region. The continuity of multi-gram gold grades now exists over more than 1,000 meters of strike, together with well-defined high-grade portions within the structure. The next key milestone is to commence drilling before the end of the year, and investigate the potential for continuity of these grades at depth. We are reviewing all data in terms of geological setting, structure, geochemistry, and epithermal textures, to assist in defining the controls of the gold distribution in these systems so as to advance our understanding and vectoring at Blackrock and Megenta, as well as our numerous other discoveries in the Afar."
Further Details
Stratex, with its strategic partner Thani Ashanti, has been undertaking further exploration in the Republic of Djibouti in East Africa within the Afar epithermal gold province defined by Stratex.
Oklila EEL - Pandora
These results are further to initial rock-chip sampling and channel-chip results released in April and May, respectively (see press releases dated 16th April and 3rd May 2012). Focussed on the main 1,500 metre long Pandora vein, continuing exploration has comprised a systematic channel-chip sampling programme at 25 metre-intervals along the strike of the vein. The latest results from this on-going programme are listed below.
Table 1. Further results from systematic 25 metre-spaced channel-chip sampling programme on main Pandora vein
Total Channel (at 0.1 g/t Au cut-off) | Including best intersection (at 1.0 g/t Au cut-off) | ||
Channel | Interval (m) | Grade over Interval (g/t) | |
P-CH-09 | 1.85 | 1.53 | |
P-CH-10 | 11.2 | 0.99 | 2.35 m @ 1.26 g/t and 5.80 m @ 1.18 g/t |
P-CH-11 | 3.90 | 2.62 | 2.10 m @ 4.45 g/t |
P-CH-12 | 5.10 | 1.60 | 1.40 m @ 4.18 g/t |
P-CH-13 | 7.60 | 1.22 | 3.50 m @ 1.59 g/t |
P-CH-14 | 4.25 | 2.14 | 2.80 m @ 2.89 g/t |
P-CH-15 | 1.60 | 2.07 | |
P-CH-16 | 5.00 | 2.27 | |
P-CH-17 | 11.10 | 5.09 | 10.30 m @ 5.48 g/t which includes 1.90 m @ 20.35 g/t |
P-CH-18 | 8.20 | 0.44 | |
P-CH-19 | 17.30 | 0.55 | 1.10 m @ 1.26 g/t |
P-CH-20 | 10.19 | 0.75 | 1.16 m @ 1.27 g/t |
P-CH-21 | 15.23 | 0.77 | 2.35 m @ 2.32 g/t |
P-CH-22 | 5.77 | 5.48 | 2.60 m @ 11.91 g/t |
P-CH-23 | 9.39 | 3.37 | 3.44 m @ 7.77 g/t which includes 2.07 m @ 12.17 g/t |
P-CH-24 | 2.93 | 0.98 | 1.50 m @ 1.44 g/t |
P-CH-25 | 3.69 | 1.17 | 1.57 m @ 1.66 g/t |
P-CH-26 | 7.65 | 0.97 | 2.25 m @ 1.73 g/t |
P-CH-27 | 3.04 | 0.60 | |
P-CH-28 | 14.49 | 1.08 | 6.71 m @ 1.47 g/t |
P-CH-29 | 23.28 | 1.52 | 8.10 m @ 2.04 g/t and 3.34 m @ 3.37 g/t |
P-CH-30 | 18.31 | 1.43 | 6.11 m @ 2.66 g/t and 1.32 m @ 2.00 g/t |
P-CH-31 | 19.37 | 1.01 | 4.93 m @ 2.17 g/t |
PS-CH-1 | 10.50 | 1.69 | 3.00 m @ 4.03 g/t and 0.80 m @ 3.62 g/t |
PS-CH-2 | 7.70 | 1.71 | 3.40 m @ 3.44 g/t |
PS-CH-3 | 13.50 | 2.14 | 2.00 m @ 5.76 g/t and 3.10 m @ 3.45 g/t and 0.60 m @ 5.58 g/t |
PS-CH-4 | 13.90 | 5.75 | 6.00 m @ 8.72 g/t which includes 1.00 m @ 18.7 g/t |
PS-CH-5 | 9.40 | 3.85 | 8.05 m @ 4.45 g/t which includes 2.50 m @ 7.58 g/t |
PS-CH-6 | 5.30 | 6.05 | 2.35 m @ 13.17 g/t |
PS-CH-7 | 3.39 | 0.24 | |
PS-CH-8 | 2.40 | 0.48 | |
PS-CH-9 | 0.76 | 3.56 | |
PS-CH-10 | 3.66 | 0.66 | |
PS-CH-11 | 2.96 | 0.42 | |
PS-CH-12 | 1.15 | 0.15 | |
Channels P-CH-9 to P-CH-31 sampled 600 metres of outcropping vein at Pandora and are along strike to the NW from the previous samples reported on the 3rd May (Table. 2).
Following a 320 metre zone with no exposure, channels PS-CH-1 to PS-CH-8 were taken over a continuous 220 metre section of the outcropping structure to the SE of P-CH-1.
Table 2. Previously reported channel-chip sampling results taken over an initial 200 metre strike length of the Pandora vein (see press release dated 3rd May 2012; 0.1 g/t Au cut-off)
Total Channel | Including best intersection | ||
Channel | Interval (m) | Grade over Interval (g/t) | |
P-CH-01 | 6.00 | 1.29 | 1.00 m @ 4.19g/t |
P-CH-02 | 3.55 | 2.47 | 0.25 m @ 9.47g/t |
P-CH-03 | 6.90 | 3.35 | 1.00 m @ 11.2g/t |
P-CH-04 | 1.65 | 15.42 | 0.50 m @ 27.1g/t; 0.65 m @ 17.60 g/t |
P-CH-05 | 3.80 | 2.63 | 0.50 m @ 6.49g/t |
P-CH-06 | 2.30 | 5.24 | 0.30 m @ 10.9 g/t; 0.25 m @ 11.20 g/t |
P-CH-07 | 6.05 | 1.37 | 1.30 m @ 3.14 g/t |
P-CH-08 | 6.60 | 1.30 | 1.10 m @ 3.67g/t |
These results support previously reported assays from the initial 43 rock-chip samples [press release dated 16th April 2012], 26 of which returned greater than 1 g/t Au, with six samples greater than 9 g/t Au - 9.81, 9.97, 9.99, 10.05 13.85, and 25.9g/t Au.
The Pandora vein is up to 2.5 metres wide at surface and can be traced north-westwards for approximately 1.5 kilometres, partly concealed by wadi sediments, before it disappears under recent basalt flows. The vein occurs in a major fault structure that extends for at least 5 kilometres. Like the Company's Blackrock project in Ethiopia, the vein comprises classic epithermal colloform quartz with silica-replaced calcite in places. Brecciation and strong alteration is also observed in the immediate wallrock.
Channel-chip sampling is now complete over the entire 1,500 metre-strike of the main vein and remaining results will be reported when they become available. It is anticipated that this work programme will result in the start of a substantial drill programme by Q4 2012.
Given the continuing success in the Afar region, Stratex and Thani Ashanti are also moving as quickly as possible to identify and acquire further mineralised systems in the Afar region of Djibouti.
For further information on Pandora and other projects within the Thani Ashanti JV portfolio, 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 Royston / Beth Harris | ||
Glossary of Technical Terms
"channel-chip sample" a sample comprising small chips of rock collected across the face of a rock body or vein
"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
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 nearing gold production, currently scheduled for 2013. To date Stratex has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver.
For more information please see the Company's website at www.stratexinternational.com
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