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Stratex unveils positive metallurgical test results for Muratdere project

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Stratex International (LON:STI) unveiled positive results from metallurgical testing at the Muratdere copper-moly project in Turkey and said the final feasibility study is expected by the end of 2014.

Flotation test work averaged 80% recovery of sulphide-copper, with concentrates averaging 33.6% copper, the firm said.

A forest permit application has been submitted for technical drilling of the tailings dam area, though completion of the study is not dependent on approval on the forest permit.

Bob Foster, chief executive of Stratex, said: "Our partner, Lodos, has made good progress with the detailed feasibility study.

"The metallurgical test work has demonstrated encouraging recoveries of copper in concentrate, together with significant recoveries of gold, silver, and molybdenum.

"Major engineering consultancy Jacobs Engineering Group has been appointed as process engineer for the project and Turkish consultancies are undertaking conceptual mine design and preparing tenders for mining and for the processing plant."

Partner Lodos acquired 61% of Muratdere through completing drilling and cash payments to Stratex totalling US$2.2 million. A feasibility study will see Lodos earn a total 70% interest.

Muratdere lies 250km west of Ankara and comprises three licences covering a substantial copper-molybdenum porphyry system with gold and silver credits.

The initial resource extends over a distance of around 2km but is open to the east, west and at depth, suggesting potential to increase the resource.

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