Oriole Resources Regulatory News (ORR)

22 Jan 2007 07:01

Stratex International PLC22 January 2007 Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining 22 January 2007 39.8 metres grading 3.23 g/t Au and 15 metres grading 2.04 g/t Au at Inlice kick-starts Stratex's 2007 resource drilling programme in Turkey Stratex International Plc ("Stratex" or the "Company"), the AIM-quotedinternational exploration and development company currently focusing on gold andbase metal opportunities in Turkey, is pleased to announce the first resultsfrom its resource drilling programme at Inlice. Highlights: INDD-19: 39.8 metres grading 3.23 g/t Au; including 15.0 metres grading 5.96 g/t Au; including 7.5 metres grading 7.50 g/t Au; INDD-18: 15.0 metres grading 2.04 g/t Au. Bob Foster C.E.O. comments, "Stratex has started 2007 with additional excellentdrill results that continue to show the scale and potential of the Inlice goldproject. We are looking forward to adding considerable value to Inlice with ouraggressive programme of resource and exploration drilling over the next fewmonths. These high-grade gold assays underpin our confidence and highlight theeconomic potential of the project." INDD-19 was drilled 25 metres south of INDD-11 and returned 39.8 metres grading3.23 g/t Au including 15 metres averaging 5.96 g/t Au which also includes ahigher-grade section of 7.5 metres of 7.50 g/t Au. This result confirms thepresence of a higher-grade core adjacent to, and beneath, the shallow valleybetween the Ana East and Ana West zones. The results of previously reporteddrilling in this area include: INDD-1 13.2 m grading 5.92 g/t Au;INDD-10 16.5 m grading 8.53 g/t Au;INDD-11 19.0 m grading 6.97 g/t Au;INDD-13 15.0 m grading 7.69 g/t Au; andINDD-15 13.2m grading 8.17 g/t Au. INDD-17, drilled beneath the same valley 65 metres south of INDD-19, intersectedwhat is interpreted as a fault, with fragments of vuggy silica that returned upto 3.03 g/t Au over 2 metres. There is little evidence of any significant lossof ground due to the faulting and the structure is possibly the feeder to themineralisation. The Company will investigate this further as part of the ongoingexploration and resource drilling. INDD-18 was drilled between INDD-16 and INDD-11 on the Ana West Zone as part ofthe resource drilling programme and confirmed the along-strike continuity of themineralised zone, returning 15.05 metres grading 2.04 g/t Au from 36.6 metresdown the hole. This intersection is 40 to 55 metres vertically below surface. The Company is pleased to report that two diamond drill rigs are now drilling onsite and a third is due to arrive within the next week with the intention offast-tracking both the resource drilling and the exploration drilling of theother mineralised zones on the Inlice property - Bati, Merkez, Kuzi - as well asthe soil geochemical anomalies identified during 2006. The Company has received the results of preliminary bench scale metallurgicaltest-work undertaken by Wardell Armstrong International on four samples usingcyanide leach of finely ground material (