Oriole Resources Regulatory News (ORR)

2 Feb 2006 11:05

Stratex International PLC02 February 2006 Stratex International Plc / Ticker: STI / Market: AIM / Sector: Mining 2 February 2006 Stratex Consolidates Ground Position in Newly Identified Gold District Stratex International Plc, ('Stratex' or 'the Company') the AIM-listedinternational exploration and development company focusing on gold and basemetal opportunities in Turkey, has increased and consolidated its land holdingin south central Turkey following the acquisition of seven concessions covering6,388 hectares (63.88 km2) in its newly discovered gold district within theKonya Volcanic Belt. The Company now controls 32,832 hectares (328.32 km2) of ground in the area thatcovers a Miocene volcanic field with well-preserved high-level volcanicfeatures. The potential of this newly discovered gold district is highlighted bysurface sampling results from the Main Zone that include: • 7.58 g/t Au over 8.20 metres; • 4.34 g/t Au over 13.80 metres; • 2.17 g/t Au over 21.40 metres; and • Average of 2.12 g/t Au over 400 metre strike length with average width of 19.60 metres. The Main Zone was the first area of vuggy silica alteration discovered by theCompany but a further 20 occurrences of extensive alteration have now beenidentified. All the mineralization and alteration zones are high-sulphidationepithermal style. The areas of silica alteration were initially defined using Aster satellitealteration imagery supported by reconnaissance fieldwork. Subsequent satelliteand geological interpretations indicated that the alteration and mineralizationidentified to date are associated with a large volcanic field, approximately 50km x 20 km. Further satellite image interpretations and site visits haverevealed at least one substantial caldera complex, a centre of volcanic activitythat is often associated with major epithermal gold deposits. The alteration and setting of the Konya Belt exhibits many of thecharacteristics of other large known mineralized high-sulphidation gold systemssuch as Yanacocha and Pierina in northern Peru, Pascua-Lama in Chile, andVeladero and Argentina. These include high level preservation of themineralization, development of easily treatable oxide mineralization, gold withquartz-alunite (vuggy silica) alteration and association with volcanic centres.The Company has moved to establish itself as the major ground holder over thismineralized and altered volcanic field. An aggressive programme of focusedfield work is planned for 2006 with the key objectives of sampling and mappingthese new prospects prior to drill testing the Main Zone as soon as possible andother zones subsequently. Dr. Bob Foster, C.E.O. said: "We are very excited by this discovery. It appearsto be a major new mineralized district supported by the early high-grade surfaceresults from the Main Zone and the extensive alteration typical ofhigh-sulphidation gold systems, which are recognised as a priority target formajor gold companies. The discovery reinforces our belief in the excellentmineral exploration potential of Turkey and we have secured a significantcompetitive advantage by increasing our already large acreage in this newlydiscovered district. We want to quantify the potential of our land holdings asquickly as possible and as such we have an aggressive exploration programmeplanned for this year." * * ENDS * * Contacts David Hall Stratex International plc Tel: 020 7830 9650 Bob Foster Stratex International plc Tel: 020 7830 9650 Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange