Oriole Resources Regulatory News (ORR)

10 Dec 2008 17:05



Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining

10th December 2008 

Stratex International Plc ('Stratex' or 'the Company') 

Director Shareholding

The Company has today received notification that, following an initial purchase of 50,000 ordinary shares at a price of 2 pence per share on 8 December 2008, non-executive director Christopher Hall is now interested in 50,000 ordinary shares in the Company or 0.02% of the issued share capital.

***ENDS***

For further information visit www.stratexinternational.com or contact:

Notes to editors:

Stratex International Plc is an AIM-quoted exploration and development company currently focusing on gold and base metal opportunities in Turkey. Its proven strategy is to discover and develop new projects by focused low-cost exploration, thus adding maximum value prior to optioning/joint venturing or selling on to a dedicated mining company. 

Stratex is actively seeking a technically capable and well-financed partner with the view to rapidly developing the 542,318 oz oxide resources present at the Altıntepe and Inlice projects.

Stratex's portfolio covers 11 licence blocks in central and western Turkey totalling approximately 1,724 sq km. The Company's latest discovery is the Öksüt high-sulphidation gold deposit with early drilling reporting best intersections of 270.2 m from surface averaging 1.22 g/t Au and 62.45 m grading 2.16 g/t Au from 14.75 m down hole. Additional key projects include Doğanbey - one of four porphyry gold targets within the Konya Volcanic Belt, Muratdere - a porphyry gold-copper-molybdenum occurrence, and Karaağaç - a partially exposed, gently dipping gold-bearing zone. Ongoing drilling and exploration programmes are underway or anticipated on a number of these licences, focused on increasing Stratex's total resources, currently standing at circa 1 million  oz of gold and approximately 3.2 million oz of silver. Additionally the Company has a healthy project pipeline portfolio, which it continues to strengthen through the acquisition of additional licences. 

Stratex has a strategic partnership with Canadian major mining company, Teck Limited, which holds an 8.8% stake in the Company, enabling the two parties to pool expertise, skills and databases to identify potential projects.