Stratex International is an exploration and development company focussing on gold and high-value base metals in Turkey, East Africa and West Africa. The Group is led by a highly experienced management team supported by top-level financial and commercial colleagues at Board level. Stratex has a successful track record in forming joint-venture partnerships both with major international mining companies and with successful local private companies.
Since formation, the Company has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver. In Turkey, Stratex is moving to gold production by 2013 at Altıntepe through the Company's JV partnership with private Turkish contract gold mining company Bahar Madencilik, subject to outcome of scoping and feasibility studies. Elsewhere in Turkey exploration at three key projects - Altunhisar and Hasançelebi (all gold) and the Muratdere (copper-gold-silver-molybdenum-rhenium) - is being funded though JV partnerships with major international companies Centerra Exploration B.V., Teck Madencilik Sanayi Ticaret A.S., and Lodos Maden Yatırım Sanayii ve Ticaret A.Ş., the wholly-owned mining investment company of a sucessful Turkish investment banking company, respectively. Stratex also has a Strategic Alliance Agreement with leading international copper company Antofagasta plc to explore for porphyry copper and other copper deposit-types in Turkey.
In Ethiopia and Djibouti, grassroots exploration has identified multiple gold prospects in northern Ethiopia and an extensive new gold district in the Afar Depression that has attracted Thani Ashanti, an AngloGold Ashanti joint venture company. Thani Ashanti is currently funding exploration of the first 11 licence areas in Ethiopia and Djibouti, the Afar Project. AngloGold Ashanti is also a substantial shareholder in Stratex. At Blackrock, a 95%-owned prospect in the northern Afar region, a total of 14 km of outcropping epithermal veins have been identified with surface grades of up to 60.4 g/t. Phase 2 drilling is currently underway.
Grassroots exploration is also underway at the Company's newly-acquired licences in West Africa, a region increasingly recognised as an important target for gold exploration.
The Company remains focussed on discovering and developing new projects through low-cost exploration, adding maximum value prior to optioning/joint venturing or selling on to a dedicated mining company.