Oriole Resources Regulatory News (ORR)

8 Aug 2006 09:30

Stratex International PLC08 August 2006 Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining 8 August 2006 Stratex International Plc, ('Stratex' or 'the Company') 37.70 m grading 4.7 g/t Au drill result confirms importance of Turkish gold discovery Stratex International Plc, the AIM-listed international exploration anddevelopment company currently focusing on gold and base metal opportunities inTurkey, is pleased to announce further positive results from the Company'songoing core drill programme at its wholly-owned Inlice gold project insouth-western Turkey. The results from drill hole INDD-11 confirm the Company'sbelief that it has discovered a new gold mineralized system that has the gradesand strike lengths to host a significant gold deposit. Highlights: €46.15m grading 3.92 g/t Au from 11.0 metres down hole; including €37.70m grading 4.7 g/t Au from 18.30 metres down hole including €19.0m grading 6.97 g/t Au from 24.0 metres. The INDD-11 hole was drilled on the Western Extension of the Inlice Main Zone,approximately 200 metres north-west from hole INDD-10, results from which werereported on the 18th July 2006 and included 32.2 metres grading 5.75 g/t Au. Theintersections for INDD-11, of which the highest grade was 10.65 g/t Au over 2.0metres, consist of typical vuggy silica-pyrite indicative of high sulphidationmineralization. The interval in INDD-10 indicated thickening of the goldmineralization in a north westerly direction, with an estimated true width of 25metres, which is confirmed by INDD-11. The drill programme has reached the pointwhere the Company can now begin to quantify the extent of this newhigh-sulphidation gold system. Stratex CEO Bob Foster said: "The drill programme on the Inlice prospect isgoing extremely well. The results from this hole, allied with those previouslyreported from holes INDD-1, 2, 3, 4, 9 and 10, in our opinion confirm Inlice asTurkey's first significant gold discovery of the 21st century. There are otherexciting mine developments ongoing in Turkey but Inlice is a totally newdiscovery in a district with no history of discovery or even exploration. It isalso important to note that, for the first time, INDD-11 has indicated a verysignificant increase in gold content at a vertical depth of approximately 60metres compared to that revealed at the surface by our outcrop sampling (1.4 g/tgold). We will continue to drill the prospect to fully understand the extent ofthe mineralization. "Although this remains our flagship project, we have also made positive advanceson our other Turkish prospects including Doganbey, which we want to advance tothe drill stage as soon as possible, as a result of analysis of positive earlyfield data. In addition we have commenced drilling at the Karaagac project andanticipate reporting results shortly. These recent results confirm that we haveassembled a very significant and valuable land package and we look forward tofurther exciting developments not only at Inlice but on these other prospects aswell." Sampling, assaying, and QA/QC Stratex's sampling of drill core and outcropping rocks conform to industry-widegood practice, with drill core being split using a diamond saw, and with chainof custody being observed for all samples. Analysis is undertaken by ALS Chemexat its laboratories in Vancouver, Canada and the Company maintains QA/QC on allanalytical work via the use of certified reference materials and fieldduplicates, in addition to monitoring of internal laboratory check-analyses. CEO Dr. Bob Foster, FIMM, CEng, is a Competent Person as defined by variousinternational instruments and takes responsibility for the release of thisinformation. * * ENDS * * Contacts: David Hall Stratex International Plc Tel: +44 (0)20 7830 9650 Bob Foster Stratex International Plc Tel: +44 (0)20 7830 9650 Imran Ahmad HB Corporate Tel: +44 (0)20 7510 1166 Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0)20 7242 4477 Notes to editors: Stratex International Plc is an AIM-listed exploration and development companycurrently focusing on gold and base metal opportunities in Turkey. Directed by ahighly experienced resource sector management team, Stratex's activities willidentify quality mineral resources, primarily gold, silver, copper, molybdenum,zinc, and nickel. Stratex has developed four high-priority prospects in central and western Turkeyand is undertaking an extensive exploration and resource drilling programme,together with mapping and sampling of key prospects. The Company has identifiedwidespread evidence for a 'high-sulphidation' style of gold mineralization onits Inlice property. This style of mineralization occurs at three of the largestand lowest cost gold mines placed into production in the last 15 years, namelyYanacocha, Pierina and Alto Chicama in Peru. Teck Cominco Limited The Company has a 'Strategic Alliance' with Teck Cominco Limited, a diversifiedmining company headquartered in Vancouver, Canada. Teck Cominco holds 14.5% ofthe Company. This enables the two parties to pool expertise, skills anddatabases to identify potential projects. Technical and financial risks are alsobeing reduced through the alliance with a major metal producer providingadditional project funding, a wealth of technical expertise and a ready buyerfor new resources ensuring rapid returns from discoveries. This information is provided by RNS The company news service from the London Stock Exchange