Last checked at 21 May 2015 07:00
Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining
Stratex International Plc
('Stratex' or 'the Company')
Operational Update: Homase/Akrokerri Project, Ghana
Stratex International Plc, the AIM-quoted exploration and development company, is pleased to announce that GoldStone (AIM:GRL), in which the Company holds a 33.45% interest, has today released an operational update for its Homase/Akrokerri gold project ('Homase/Akrokerri' or the 'Project') in Ghana.
Highlights:
· Auger sampling programme successfully completed over eight high-priority gold targets close to and along-strike from the 602,000 ounce Homase/Akrokerri gold deposit;
· 1,332 auger holes drilled to a maximum depth of 3 m;
· Results have indicated two potentially new zones of mineralisation - a 1,500 m anomaly at the AK02 prospect, immediately south west and along strike of the Homase/Akrokerri deposit, and an 800 m anomaly, the AK04 prospect, that may be an extension of AK02;
· Both prospects show immediate promise to host additional bedrock gold mineralisation to potentially add to existing resources; and
· Close-spaced infill auger sampling is underway to support future definition of drill targets.
The full text of the announcement by Goldstone can be found at http://www.goldstoneresources.com/investors/news-releases.html.
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For further information please visit www.stratexinternational.com, email info@stratexplc.com, or contact:
Stratex International Plc | Tel: +44 (0)20 7830 9650 |
Bob Foster / Christopher Hall / Claire Bay
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Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
Philip Secrett / Melanie Frean / Jen Clarke
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Northland Capital Partners Limited | Tel: +44 (0)20 7382 1100 |
Gerry Beaney / David Hignell Abigail Wayne /John Howes (Broking)
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SP Angel Corporate Finance LLP | Tel: +44 (0)20 3470 0500 |
Ewan Leggat / Tercel Moore
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Yellow Jersey PR Limited | Tel: +44 (0)7747 788 221 |
Anna Legge / Dominic Barretto | |
Notes to Editors:
Focused on the exploration and development of gold and high-value base metals, Stratex International is active in Turkey and Senegal and has strategic interests in East Africa and Ghana. Since listing on AIM in 2006, Stratex has had an impressive track record of successful exploration supported by joint-venture partnerships, both with major international mining companies and local companies to maximise the potential of its discoveries.
To date Stratex has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver, as well as 186,000 tonnes of copper. The Company is looking to completion of construction of its 45%-owned Altıntepe gold project in Turkey in 2015 and anticipates gold production before year-end. Additionally a 1% production royalty capped at US$20 million will be due from the Öksüt project, also in Turkey, with first production provisionally targeted for late-2016 by owners Centerra Gold. With its current cash position and projected cash returns, the Company is well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources.