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Stratex International: Öksüt continues to deliver – 80.30 metres @ 2.22 g/t Au |
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Friday, 30 July 2010 07:13 |
Stratex International Plc, the AIM-quoted exploration and development (E&D) company focussed on gold and base metals with targets in Turkey, Ethiopia and Djibouti, announces an update on exploration undertaken at its Öksüt high-sulphidation gold project in Central Turkey, which is being funded by its joint venture/ option partner, Centerra Exploration B.V. („Centerra‟), a wholly owned subsidiary of the major North American gold miner Centerra Gold Inc.
Highlights
- Completed five diamond drill holes totalling 1156.1 metres at the Ortaçam Zone of the Öksüt project to expand the preliminary resource
- Best intersections include:
- ODD-17 334.90 metres oxide + sulphide grading 0.52 g/t Au
including 51.00 metres oxide grading 1.74 g/t Au - ODD-18 30.30 metres oxide grading 1.61 g/t Au
- ODD-19 34.65 metres oxide grading 2.26 g/t Au
- ODD-20 109.70 metres oxide grading 1.73 g/t Au
including 80.30 metres oxide grading 2.22 g/t Au
- Results show potential for high-tonnage, low-grade gold deposit at Ortaçam zone - wireframe 3D modelling of the mineralized zone is now being undertaken
- Phase Two drilling underway on the first of five additional drill targets - initial focus on outcropping gold-bearing zone within the wider Öksüt licence area
Stratex CEO Bob Foster said, “These latest results demonstrate the exciting prospectivity of the project and highlight the potential of developing the Ortaçam Zone as a large-tonnage low-grade gold deposit in the future. Importantly, the drilling has increased our understanding of the geometry of the gold mineralization and illustrates the potential to increase the resource in the Ortaçam Zone, a preliminary estimate of which currently stands at 3.8 Mt grading 1.21 g/t Au for 147,814 oz gold. Drilling has now stepped out to the wider Öksüt area, focussing on three outcropping zones of gold-bearing silica before targeting the potential porphyry targets of Ortaçam Southwest and Devetaşi West.
“Our joint venture partner, Centerra, continues to support the exploration programme at Öksüt as we continue to fast-track the project. The Öksüt discovery, we believe, is also showing the potential to contain a significant porphyry gold +/- copper system, something which would create a major value uplift for the Company. With this in mind, we look forward to reporting further exciting news as the programme continues to develop.” |
