Stratex International PLC Further Update on Thani Stratex Resource Statement (1507Z)
December 13 2017 - 1:00AM
UK Regulatory
TIDMSTI
RNS Number : 1507Z
Stratex International PLC
13 December 2017
Stratex International Plc / Index: AIM / Epic: STI / Sector:
Mining
Stratex International Plc
('Stratex' or 'the Company')
Further Update on Thani Stratex Resource Statement
Stratex International Plc provides a further update on the
Inferred Maiden Mineral Resource Estimate ("MRE") for the Anbat
project gold in Egypt prepared by CSA Global for, and previously
announced by, Thani Stratex Resources Limited ("TSR"). The MRE was
referenced in the Company's announcement on 6 December 2017; TSR
subsequently retracted the MRE, as set out in the announcement by
Stratex on 7 December 2017, at the request of CSA Global on the
grounds that the MRE report had been intended for internal
consumption only and as such did not contain full disclosure with
respect to JORC public reporting requirements. Stratex understands
that CSA Global had not been consulted prior to the announcement of
the MRE report by TSR. Following a period of review, the Company
reports that TSR has now published a revised version of the MRE
report, which is available on TSR's website
(http://www.thanistratex.com/news), and TSR has released a revised
MRE announcement.
The material change to the original announcement and MRE report
released by TSR relates to disclosure around the conceptual pit
optimisation, as follows:
"Inferred Mineral Resources were reported for blocks above 0.5
g/t Au and within a conceptual pit optimisation scenario based on a
gold price of $1,500/oz to underpin the JORC (2012) requirement of
reasonable chances of eventual extraction.
The conceptual pit optimisation does not represent an Economic
Study, since no such study has been completed, and is based upon an
Inferred Mineral Resource which is not suitable for detailed mine
planning. Mineral Resources located within the conceptual pit do
not have proven economic viability and are not Mineral
Reserves."
The Inferred Mineral Resources of 5.9 million tonnes, at a grade
of 1.11 g/t for a total of 209,000 ounces, remain unchanged.
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. Following the
publication of this announcement, this inside information is now
considered to be in the public domain.
* * ENDS * *
For further information please visit
www.stratexinternational.com, @StratexPLC on Twitter, email
info@stratexplc.com, or contact:
Stratex International Plc Tel: +44 (0)20 7830 9650
Claire Bay / Dr Bob Foster
Grant Thornton UK LLP Tel: +44 (0)20 7383 5100
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
/ Monique Perks
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 Thani
Stratex Resources Ltd and Tembo Gold Corp. for their exploration
projects in 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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