Stratex's maiden resources exceeds expectations

A maiden assessment of miner Stratex International's Muratdere multi-metal project in western Turkey has revealed results that substantially beat initial estimates.The project, 250km west of Ankara, showed 51m tonnes grading 0.36% copper, 0.12 g/t gold, 2.40 g/t silver, 0.0125% molybdenum and 0.34 ppm rhenium. "This maiden JORC-compliant resource has considerably exceeded our expectations and demonstrated the potential for a substantial mineralised porphyry copper system containing multi-element credits of gold, silver, molybdenum, and rhenium that at today's metal prices add very significantly to the potential value of the project," said chief executive officer Bob Foster. "The most appropriate way to recover the various metals will be determined by metallurgical test work that is currently being undertaken by mining consultants Wardell Armstrong International. The flotation-concentrate tests and supporting mineralogical studies are estimated to take three months to complete."The project is a joint venture with Turkish construction company Aydeniz.