Stratex International

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Stratex International is an exploration and development company focusing on gold and high-value base metals. The company objective is to be a leading-edge and innovative explorer whilst creating revenue from gold and base metal production via well-managed joint-ventures.

 

Since formation, Stratex has rapidly amassed a portfolio of high-potential exploration licences in Turkey and Ethiopia, primarily focussed on gold.

 

Stratex finds more gold at Altintepe

Tuesday, November 20, 2007 by proactiveinvestors.co.uk
Gold exploration company Stratex International (AIM: STI) announced the discovery of a new high grade gold outcropping within the Kayatepe Zone of its Altintepe Property. Altintepe is a multi-vein gold system that Stratex recently optioned from the Turkish subsidiary of mining heavyweight Tech Cominco.

Teck Cominco is best known for its zinc operations, but in fact carries considerable gold exploration and production assets on its books.

Stratex is conducting an extensive exploration program at Altintepe with the ambition of proving up additional resources to add to the current NI 43-101 compliant resource of 311,000 ounces of gold. Highlights from the new high grade outcropping included 12.98 grams per tonne gold over 14 metres and 6.63 grams per tonne gold over 33.5 metres returned from a grab and channel sampling program.

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Additional results from the Orta zone, another recent discovery returned values 'up to' 0.29 grams per tonne gold over 5 metres and zinc contents up to 2% from sampling.

Finally, Stratex said it also conducted additional exploration of the Sinan Zone, and believed it may have identified widths of 50-60 metres which will be followed up with sampling programs shortly.

Stratex CEO Bob Foster said, "These results from Kayatepe exceed our
expectations and show near-surface good grade potential in the oxide part of the zone, all favourable for the potential economics of the project. It should also be noted that material from this zone has not previously been incorporated into any resource estimate. Furthermore, the adit access at Camlik has allowed us to get an excellent representative sample that shows gold contents higher thanrecorded from the previous drilling in this zone, which suffered from poor recoveries in the very hard ground. We see this as another area where Stratex will add to the current resource. Confirmation that the Orta Zone is gold-bearing and identification of yet another substantial zone, the Sinan Zone, all reinforce our original assessment that this property has considerably more potential than previously realised."



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Additional Information

Market:AIM
Sector:General Mining - Gold
EPIC:STI
Latest Price: 3.18p  (0.00%)
52-week High:4.63p
52-week Low:3.00p
Market Cap:9.11M

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