TIDMSTI
RNS Number : 3956L
Stratex International PLC
19 April 2018
19 April 2018
Stratex International Plc
('Stratex' or 'the Company')
Thani Stratex Announces Excellent Final Drill results for
Djibouti
Stratex, the AIM-quoted gold-focused exploration and development
company in Turkey and Africa, reports that Thani Stratex Resources
Ltd ("TSR"), in which the Company holds a 30.4% interest, has today
announced final results for its Phase 2 drilling programme at the
Pandora gold project in Djibouti. These drilling results include
one outstanding (>30 g/t Au) intersection on the previously
untested Pyrrha vein.
Highlights
-- Phase 2 diamond drilling completed for 3,036.50m in 18 holes;
-- The best drill results include(1) :
o 8.30m @ 7.21 g/t Au from 144.55m, including 0.80m @ 26.10 g/t
Au (Ok-D-25);
o 10.00m @ 1.20 g/t Au from 130.00m including 5.85m @ 1.90 g/t
Au (Ok-D-29);
o 35.07m @ 1.28 g/t Au from 109.55m including 9.80m @ 3.06 g/t
Au and 2.40m @ 1.75 g/t Au (Ok-D-31);
o 1.10m @ 5.10 g/t Au from 42.00m including 0.50 m @ 9.91 g/t
Au, and 1.22m @ 55.40 g/t Au from 50.38m (Ok-D-32);
o 3.54m @ 2.35 g/t Au from 100.46m (Ok-D-33).
Tim Livesey, CEO of Stratex, commented:
"It's great to see that the latest results from the current
drilling phase at the Pandora Gold Project are continuing to show
promising intersects. It is clear that the Djibouti team's
understanding of the geology in the area is increasing with every
hole, as is the potential scale of the district.
We look forward to reviewing the project with TSR in detail over
the coming months."
Further Details
At the Pandora epithermal gold project in Djibouti, TSR
(50%-owner) has completed Phase 2 drilling for a total 3,036.50m in
18 holes. As reported previously (Announcement dated 1 February
2018), the aim of this drilling was to test the depth-extension of
previously drilled mineralisation and identify potential
higher-grade ore shoots within the system that is believed could
lead to the definition of a resource.
TSR has today announced results reported in accordance with the
JORC code, from the remaining 13 holes in the programme (OK-DD-21
to OK-DD-33) which demonstrates broad zones of multi-gram gold
mineralisation towards the NW-end of the main outcropping Pandora
vein. These zones also comprises narrower zones of higher-grade
mineralisation. Significant intersections, as recalculated by
Stratex(1) , are shown in Table 1.
(1) Recalculated by Stratex at 0.20 g/t Au cut-off for intervals
>1m, with "including" intervals calculated using a 1.00 g/t Au
cut-off
Table 1. Significant Intersections from Phase 2 diamond drill
holes OK-D-21 to Ok-D-33
Hole ID Dip (deg) From (m) To (m) Width (m)* Average Au Grade
(g/t)**
OK-D-21 138.15 147.00 8.85 0.28
---------- --------- ------- ----------- -----------------
and 150.17 163.70 13.53 0.99
---------- --------- ------- ----------- -----------------
including 155.80 157.00 1.20 1.26
---------- --------- ------- ----------- -----------------
Including 161.83 163.70 1.87 5.48
---------- --------- ------- ----------- -----------------
and 168.00 169.00 1.00 0.22
---------- --------- ------- ----------- -----------------
and 171.00 172.00 1.00 0.85
---------- --------- ------- ----------- -----------------
OK-D-22 -45 24.00 25.00 1.00 0.32
---------- --------- ------- ----------- -----------------
and 31.40 40.80 9.40 0.31
---------- --------- ------- ----------- -----------------
and 50.00 72.00 22.00 0.84
---------- --------- ------- ----------- -----------------
including 54.00 55.82 1.82 2.49
---------- --------- ------- ----------- -----------------
including 61.57 65.00 3.43 1.69
---------- --------- ------- ----------- -----------------
OK-D-23 -60 54.00 55.00 1.00 0.46
---------- --------- ------- ----------- -----------------
and 67.95 69.00 1.05 0.46
---------- --------- ------- ----------- -----------------
and 92.54 121.87 29.33 0.54
---------- --------- ------- ----------- -----------------
including 126.00 127.00 1.00 0.85
---------- --------- ------- ----------- -----------------
and 139.26 140.38 1.12 0.43
---------- --------- ------- ----------- -----------------
OK-D-24 -50 84.30 85.30 1.00 0.34
---------- --------- ------- ----------- -----------------
and 89.60 92.19 2.59 0.58
---------- --------- ------- ----------- -----------------
and 98.60 100.15 1.55 0.25
---------- --------- ------- ----------- -----------------
and 104.70 112.00 7.30 0.39
---------- --------- ------- ----------- -----------------
including 108.77 110.00 1.06 1.06
---------- --------- ------- ----------- -----------------
and 115.00 116.90 1.90 1.43
---------- --------- ------- ----------- -----------------
and 130.65 132.15 1.50 0.27
---------- --------- ------- ----------- -----------------
OK-D-25 -60 121.63 123.14 1.51 0.63
---------- --------- ------- ----------- -----------------
and 126.25 140.00 13.75 0.44
---------- --------- ------- ----------- -----------------
and 144.55 152.85 8.30 7.21
---------- --------- ------- ----------- -----------------
including 148.80 150.20 1.40 17.31
---------- --------- ------- ----------- -----------------
OK-D-26 -60 9.05 10.65 1.60 0.20
---------- --------- ------- ----------- -----------------
and 74.00 75.11 1.11 0.51
---------- --------- ------- ----------- -----------------
and 77.06 79.00 1.94 0.36
---------- --------- ------- ----------- -----------------
and 87.00 88.00 1.00 0.21
---------- --------- ------- ----------- -----------------
and 91.00 92.00 1.00 0.22
---------- --------- ------- ----------- -----------------
and 97.00 98.00 1.00 0.28
---------- --------- ------- ----------- -----------------
and 99.73 101.37 1.64 0.64
---------- --------- ------- ----------- -----------------
and 109.00 110.00 1.00 0.29
---------- --------- ------- ----------- -----------------
and 151.00 154.63 3.63 1.30
---------- --------- ------- ----------- -----------------
OK-D-27 -45 96.00 97.00 1.00 3.57
---------- --------- ------- ----------- -----------------
OK-D-28 -60 37.55 41.40 3.85 1.01
---------- --------- ------- ----------- -----------------
includes 40.10 41.10 1.30 1.23
---------- --------- ------- ----------- -----------------
and 58.30 59.80 1.50 0.27
---------- --------- ------- ----------- -----------------
OK-D-29 -60 101.00 102.00 1.00 0.26
---------- --------- ------- ----------- -----------------
and 130.00 140.00 10.00 1.20
---------- --------- ------- ----------- -----------------
includes 130.48 136.33 5.85 1.90
---------- --------- ------- ----------- -----------------
OK-D-30 -45 9.84 11.50 1.66 0.37
---------- --------- ------- ----------- -----------------
OK-D-31 -45 98.87 104.97 6.10 0.26
---------- --------- ------- ----------- -----------------
and 109.55 144.62 35.07 1.28
---------- --------- ------- ----------- -----------------
includes 115.00 124.80 9.80 3.06
---------- --------- ------- ----------- -----------------
includes 126.32 128.72 2.40 1.75
---------- --------- ------- ----------- -----------------
and 149.00 150.00 1.00 0.24
---------- --------- ------- ----------- -----------------
OK-D-32 -50 42.60 43.10 1.10 5.10
---------- --------- ------- ----------- -----------------
and 45.15 48.48 3.33 0.25
---------- --------- ------- ----------- -----------------
and 50.38 51.60 1.22 55.4
---------- --------- ------- ----------- -----------------
OK-D-33 -45 68.86 70.75 1.89 0.37
---------- --------- ------- ----------- -----------------
and 73.72 75.40 1.68 0.41
---------- --------- ------- ----------- -----------------
and 100.46 104.00 3.54 2.35
---------- --------- ------- ----------- -----------------
includes 101.00 103.55 2.55 3.14
---------- --------- ------- ----------- -----------------
* True widths are estimated to be between 42% and 71% of the
reported (downhole) intersection lengths.
** 0.20 g/t Au cut-off for intervals >1m, with "including"
intervals calculated using a 1.00 g/t Au cut-off
Importantly, hole OK-D-32 was drilled to intersect the
WNW-oriented Pyrrha vein, which appears to be part of the same
structurally-controlled vein system as the Pandora vein, and
returned 55.4 g/t Au over 1.22m from approximately 32m below
surface (based on -50deg drill hole inclination). The Pyrrha vein,
though narrow on surface, has been mapped for over 400m and will be
an important focus for additional drill testing. However, TSR will
undertake preliminary metallurgical test work ahead of the next
phase of drilling.
In its announcement today, TSR also highlighted that it had
received considerable interest from third parties and that it had
signed NDA's with a number of these for the project. We await
further information in this regard.
Further details on the drilling programme at Pandora, including
JORC Table 1 disclosure and a drill plan is included TSR's press
release dated 18 April 2018, which can be found at
http://thanistratex.com/news/. The drill intersections announced in
this release using different cut-off grades to those used by TSR,
have been compiled for the Company by Claire Bay, a Competent
Person as defined in the JORC code, and who takes responsibility
for the release of this information.
** ENDS **
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.
For further information please visit
www.stratexinternational.com, @StratexPLC on Twitter,
or contact:
Stratex International Tel: +44 (0)20 830
Plc 9650
Tim Livesey / Claire
Bay
Camarco (IR/PR Contact) Tel: +44 (0)20 3757
4980
Gordon Poole / Nick
Hennis / Monique Perks
Grant Thornton UK LLP Tel: +44 (0)20 7383
5100
Samantha Harrison
Hannam & Partners Tel: +44 (0)20 7907
8500
Neil Passmore / Andrew
Chubb
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 an exciting
exploration project in Senegal and 14.87% of a copper-gold project
at feasibility stage in Turkey, which will likely default to a 1.2%
(post-Turkish tax) royalty position within the next 3 months. 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. The Company is currently
pursuing value-accretive opportunities within its existing
portfolio as well as identifying new value-appropriate projects in
Africa and Europe.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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