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Stratex encouraged by latest results from Afar

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Stratex International’s (LON:STI) latest drilling campaign in Megenta in Afar in Ethiopia has found multiple narrow, high grade veins within wider zones at lower gold grades.

The eight-hole diamond drill programme totalled 2,162 metres and was part of an earn-back into the 1,671 square kilometre Tendaho licence from partner Thani Ashanti.

Best results included 10.45 grams per tonne (g/t) gold (Au) over 0.5 metres 9m) and 9.88 g/t over 0.6m within a wider 4.39 g/t Au over 2.6m. Other narrow veins included 3.56 g/t over 0.7m and 4.4 g/t over 0.34m.

The drilling programme focused on deeper parts of the previously identified system, concentrating on earlier favourable results from initial drilling at the Hyena and Gazelle Zones. The Akehil and Lakeside discoveries are still untested.

David Hall, executive director, said: "The continuing definition of gold-bearing conduits at a high crustal level is positive as we continue to develop our understanding of the controls on epithermal mineralisation in this highly dynamic geological region.

“The relatively high gold content of the narrow veins intersected to date is encouraging, although we have yet to intersect true bonanza mineralization within cohesive quartz veins."

The next drill programme is at Oklila in Djibouti, he added, where surface values are the best yet in the Afar epithermal exploration.

“In addition we will review results to assist with further work at the Akehil and Lakeside prospects within the Tendaho block."

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