www.stratexinternational.com
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 aims to fast-track Turkish projects into production within 3 years, JV deal with NTF expected in Q3
Turkey operating gold miner Stratex International Plc (AIM: STI) said development of the Inlice and Altintepe projects is underway as the company has started utilizing funds it received from its Turkish JV partner NTF.
The two companies plan to fast track the Inlice and Altintepe projects into production within 18 and 36 months respectively.
The company said it has been paid US$157,000 by its new joint venture partner, Turkish construction and contract mining company NTF, to undertake the development of the two projects, which are estimated to have a combined resource of 570,000 ounces of gold.
The company has began utilizing the funds and commissioned UK-based Golder Associates for a scoping gap analysis to identify key issues and move the projects towards feasibility study and production. The initial development programme will also include a review of drill core data and additional drilling at the Inlice project to determine a definite estimation of the measured reserve in the oxide zone.
Stratex will be paid at least US$50,000 per month until a definitive joint venture agreement is signed, which is expected in Q3 2009.


















