Stratex International PLC Thani Stratex Drilling Results (2049H)
June 06 2017 - 1:01AM
UK Regulatory
TIDMSTI
RNS Number : 2049H
Stratex International PLC
06 June 2017
Stratex International Plc / Index: AIM / Epic: STI / Sector:
Mining
Stratex International Plc
('Stratex' or 'the Company')
Discovery Holes Confirm Potential at Pandora
Stratex reports that Thani Stratex Resources Ltd ("TSR"), in
which the Company holds a 30.1% interest, has today announced the
results of its maiden drilling programme at the Pandora epithermal
gold project in Djibouti.
Highlights
-- 2,159 m diamond drilling completed in 15 holes across the
Pandora South and Pandora Central zones;
-- Best reported results include:
o 3.95 m @ 4.49 g/t Au from 87.20 m incl. 1.55 m @ 7.49 g/t Au
from 87.20 m (OK-D-10*);
o 8.68 m @ 1.36 g/t Au from 49.27 m and 3.84 m @ 5.19 g/t Au
from 147.00 m (OK-D-11*);
o 6.87 m @ 4.45 g/t Au from 51.10 m incl. 1.36 m @ 10.55 g/t Au
from 56.60 m (OK-D-12**);
o 4.70 m @ 3.41 g/t Au from 78.00 m incl. 0.80 m @ 13.90 g/t Au
from 81.20 m (OK-D-13*).
-- The intersections in holes OK-D-10 and OK-D-11, and OK-D-12
and OK-D-13 correlate with surface values of 1.30 m @ 6.40 g/t Au
and 1.90 m @ 20 g/t Au respectively;
-- Depth continuity of mineralisation confirmed to approximately 150 m vertically.
Commenting on the announcement, Stratex's Chief Executive
Officer, Marcus Engelbrecht, said: "The initial drilling results
reported for Pandora are exciting and confirm our confidence in the
prospectivity of this project. Identifying these high grade
intercepts during a maiden drilling programme is exceptional and I
wish to congratulate the Thani Stratex team on the results."
Further Details
On 19(th) May 2017, the Company reported that TSR had completed
a 15-hole scout diamond drilling programme at its Pandora
epithermal gold prospect in Djibouti (refer to Stratex's press
announcement dated 19(th) May 2017). The 2,159 metre programme
focused on the Pandora South and Pandora Central zones, covering a
total strike length of 1.2 km, which form part of a 10 km mapped
system of epithermal veins, first discovered by Stratex in February
2013. The aim of the drilling programme was to define the width and
grade of the gold mineralisation and to confirm its depth
continuity.
Holes OK-D-01 to OK-D-06 tested the Pandora South zone with
OK-D-07 testing beneath a wadi that cuts the outcropping vein.
OK-D-08 to 15 tested the Pandora Central zone.
The best results were yielded from paired holes OK-D-10 and
OK-D-11, and OK-D-12 and OK-D-13 that were drilled 200 m apart and
included 1.36 m @ 10.55 g/t Au and 6.87 m @ 4.45 g/t Au. These
holes have confirmed continuity of surface mineralisation to a
vertical depth of approximately 150 m below surface, with the
intersections in holes OK-D- 10 and OK-D-11, and OK-D-12 and
OK-D-13 correlating with surface values of 1.30 m @ 6.40 g/t Au and
1.90 m @ 20 g/t Au respectively.
True widths are estimated to be between 42% and 71% of the
reported (downhole) intersection length.
* Intercepts calculated using 0.4 g/t Au cut-off
** Intercepts calculated using 0.5 g/t Au cut-off
The announcement by Thani Stratex and further details on the
Pandora project, including a summary of drill results and drill
hole location map, can be found at http://www.thanistratex.com.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
* * ENDS * *
For further information please visit
www.stratexinternational.com, email info@stratexplc.com, or
contact:
Stratex International Tel: +44 (0)20 7830 9650
Plc
Marcus Engelbrecht / Claire Bay
Grant Thornton UK LLP Tel: +44 (0)20 7383 5100
Philip Secrett / Samantha Harrison / Daniel Bush
Hannam & Partners Tel: +44 (0)20 7907 8500
Neil Passmore/ Andrew
Chubb
Camarco Tel: +44 (0)20 3757 4980
Gordon Poole / Nick Hennis
Notes to Editors:
Since listing in 2006, Stratex has discovered more than 2.2
million ounces of gold and 7.09 million ounces of silver, as well
as 186,000 tonnes of copper. The Company owns 15% of a copper-gold
project at feasibility stage and an exciting exploration project in
Senegal. The Company also has significant interests in Goldstone
Resources Ltd, Thani Stratex Resources Ltd and Tembo Gold Corp. for
their exploration projects in Ghana, Djibouti and Egypt, and
Tanzania respectively.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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