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Stratex shares lifted as latest Tembo drilling reveals good results


A number of good results have been received from the Tembo Gold project drilling in Tanzania, Stratex International (LON:STI) told investors.

Results are reported by Tembo Gold for 13 holes sunk this year at the Nyakagwe East target on the property.

Highlights include 4.42 g/t gold over 2.60 metres from 130.60 metres, including 10.57 g/t of the yellow metal over 1 metre in one hole.

In another, there was 8.44 g/t Au over 1.30 m from 99.90 m, including 25 g/t Au over 0.42 metres.

Mineralisation was hit for 1 km along a west north west trending structure, which is open in both directions.

Stratex chief executive Bob Foster said: "These latest drill results from the Nyakagwe East area are very encouraging and in many ways typify the drilling returns that have been reported during this programme and earlier programmes."

By this he referred to the fact that usually holes have hit one or more zones exhibiting moderate to high gold grades. 

"...the results continue to support our shared contention that the Tembo tenement package has considerable potential for the discovery of one or more significant gold deposits." 

The 100 sq km Tembo licence is in north west Tanzania within the highly prospective Lake Victoria Goldfield, adjacent to the Bulyanhulu Mine. Stratex currently holds a 12.89% stake in Tembo.

Stratex shares rose 5.41% to 2.925p.

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Price: 0.375 GBX

Market: LSE
Market Cap: £2.63 m

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