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UPDATE - Stratex upbeat on latest drilling from Dalafin gold project

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Stratex International (LON:STI) announced positive drill results from the Dalafin gold project in Senegal after completing 57 holes on three key zones: Faré, Baytilaye and Saroudia.

The best drill results from the Faré South prospect included 14 metres (m) of gold at 2.94 grammes a tonne (g/t), 59.6m at 2.2g/t, 13.5m at 2.31g/t and 96m at 1.51g/t, all near or at the surface.

“These latest drilling results for Faré South continue to indicate the existence of a substantial mineralised gold system that appears to be associated with a porphyry complex,” said chief executive Bob Foster. “The long intersections being returned are very encouraging indeed and follow-up drilling will be a priority.

“We are also reviewing the data from the Baytilaye and Saroudia target areas, as these shorter, lower-grade intersections could still be indicative of concealed mineralisation,” he added.

Dalafin is positioned in the centre of the Birimian-age Kédougou-Kenieba gold belt that extends from eastern Senegal into western Mali and has already seen multiple major gold discoveries including Randgold Resources' 3mln ounce Massawa deposit.

“Drilling at Dalafin continues to deliver results well above our expectations demonstrating that Stratex International has made an important discovery,” said broker Northland Capital.

Stratex plans to start drilling on a fourth target, Madina Bafé, in the next two-three months.

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