Stratex International reports further positive gold finds in Shehagne in Tigrai state northern Ethiopia.
Jan. 18 2009
Stratex International Plc, the AIM-quoted mineral explorer working on world-class gold and base metal deposits in Turkey and Ethiopia, has reported further encouraging gold results from its exploration programme on the 37 sq km Shehagne Exclusive Exploration Licence in northern Ethiopia.
As a result of the latest positive exploration results Stratex is proceeding with its previously announced option to acquire 60% of the licence from Plus Markets-listed Sheba Exploration by committing another £250,000 to exploration.
The latest channel-chip results define an extensive zone of gold mineralisation 900 metres in length and more than 200 metres in width within the Tsemmetti target area. The best intersections include 11 metres grading 4.39 grams per ton (g/t) gold and 40 metres grading 1.40 g/t gold. Results are still pending from a new zone discovered 800 metres to the north-north-west of the Tsemmetti area.
The results follow initial channel-chip sampling last November, in which Stratex identified broad zones of gold mineralisation, with one 51 metre section grading 0.88 g/t gold – 17 metres of which graded 2.0 g/t gold.