Oriole Resources Regulatory News (ORR)

12 Jun 2006 08:00

Stratex International PLC12 June 2006 Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining 12th June 2006. Stratex Defines New Gold Target in Turkey Stratex International Plc ("Stratex" or "the Company"), the AIM-listedinternational exploration and development company currently focusing on gold andbase metal opportunities in Turkey, has identified a new gold target within theKonya Volcanic Complex (KVC), an area that already hosts the Company'shigh-sulphidation Inlice gold discovery. The new zone, "Doganbey", wasdiscovered following initial geological sampling and mapping and is currentlydefined by a gold geochemical anomaly covering 1,000 metres by 600 metres (opento the south) with grades up to 0.68 g/t Au in surface rock chip samples. The Doganbey alteration zone, located 14 kilometres from Inlice, covers 7.5square kilometres of intense alteration and is focused on an eroded volcaniccentre. The geology and associated geochemistry indicate an underlying,potentially large, porphyry gold+/-copper+/- molybdenum target. Molybdenumvalues are highly anomalous, up to 327 ppm, but copper values are low, asexpected in a leached-capping setting. The eroded volcanic centre is some 10kilometres in diameter, with the porphyry target defined in the deepest part ofthe alteration zone. In addition, Stratex has identified high-sulphidation vuggysilica alteration at higher levels above the porphyry target zone. The Company will undertake a detailed soil sampling programme over the propertyprior to drill testing. Chairman David Hall comments, "This is yet further good news to come out of ourexploration programme. The identification of the Doganbey porphyry targetprovides increasing encouragement that the Konya Volcanic Complex has thepotential to host a number of gold and gold-copper-molybdenum deposits.Importantly, through early identification and ground staking, Stratex has anunparalleled position in this district and therefore total control over itsdiscovery potential." "The similarities of our new gold discovery at Inlice in terms of mineralizationstyle with the 1.26 million ounce Agi Dagi project and now the Doganbey targetwith the 5 million ounce Kisladag deposit both in Turkey strongly support thispotential. We look forward to ongoing results of drilling at Inlice, and thedetailed exploration of Doganbey, as well as prioritisation of other targets inthe KVC. In addition, we are about to commence drilling at our Karagaacproperty, which in tandem with our other activities, highlights that Stratex isprogressing an exciting exploration portfolio". Sampling, assaying, and QA/QC Stratex's sampling of drill core and outcropping rocks conform to industry-widegood practise, 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 9650Bob Foster Stratex International Plc Tel: +44 (0)20 7830 9650Imran Ahmad HB Corporate Tel: +44 (0)20 7510 1166Hugo 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