Stratex International is an exploration and development (E&D) company focusing on gold and other high-value base metals. The company objective is to be a leading-edge and innovative explorer whilst creating revenue from gold and base metal production via well-managed joint-ventures.
Formed in 2004, the company has been positioned to take advantage of the current paucity of exploration activities and the resultant projected shortage in supply of precious and base metals. Since formation, Stratex has rapidly amassed a portfolio of high-potential exploration licences in central and western Turkey. Five of these have been the focus of drilling and Stratex now possesses a total resource of slightly more than 841,000 oz of gold.
The strategic intent is to maximize shareholder value through the continuing development of this focused portfolio. Revenues will be generated by developing the defined resources into mines in collaboration with strategic partner Teck Cominco Limited. However, should the mineral resource not meet Teck Cominco’s operational criteria then either a joint venture would be sought with another appropriate mining company or the resource would be sold to a third party whilst retaining a net smelter royalty.
Stratex has a UK-based board of directors, including a Chairman, CEO, CFO and two non- executive directors, with a head office in London. The Turkish operations are managed from offices in Ankara and include the Country General Manager, two senior Project Managers, and a strong team of geologists.
The current project portfolio is focused on gold targets in Turkey and covers ten licence blocks totalling approximately 1,630 km2:-
- Inlice: A high-sulphidation gold discovery in a previously unexplored area – the Konya Volcanic Belt. Current resource in the Ana Zone totals 6,751,595 t @ 1.72 g/t gold realising 372,971 oz gold.
- Doğanbey: A porphyry gold-molybdenum target within the Konya Volcanic Belt. Geological mapping and geophysical surveys indicate a potentially large system. Initial drilling has indicated gold grades of approximately 0.1 g/t Au. An airborne geophysical (magnetic) survey of the wider Konya belt was completed early November and should contribute substantially to the identification and prioritisation of new targets to be brought to the drill stage in 2008.
- Altıntepe: A multi-occurrence prospect comprising a number of discrete gold-bearing zones. A declared NI 43-101 resource of 311,543 oz gold. The prospect is now the focus of both further resource drilling and exploration drilling.
- Muratdere: A porphyry gold-copper-molybdenum occurrence that is exposed over an area of approximately 4,000 m x 5,00 m. Encouraging results from early drilling returned a best intersection to date of 284.7 metres grading 0.30 % copper, 0.13 g/t Au, and 0.013 % Mo..
- Karaağaç: A partially exposed, gently dipping gold-bearing zone, extending over an area of approximately 3.5km2. Drilling has identified a resource of approximately 6,389,011 t @ 0.78 g/t gold for a total of 156,798 oz gold. A joint venture partner is being sought to extend the resource and undertake feasibility studies, with a view to mid-term production.
Project Pipeline Portfolio
- Hasançelebi: Newly discovered high-sulphidation gold system hosted within Miocene andesitic and dacitic rocks. Silica rock samples from early exploration work returned values up to 0.9 g/t Au over 4 m. Further exploration is underway and drilling is anticipated Q3/Q4 2008.
- Altunhisar and Karapınar: Two new areas of volcanic rocks similar to Konya within which multiple occurrences of Konya-type alteration have already been identified. Drilling of priority targets at Altunhisar is anticipated during Q3/Q4 2008.
- Oksüt: A new 75.51 km2 licence area with key licence acquired in late March 2008. Gold mineralization hosted in Miocene volcanics, similar to the Konya Volcanic Belt. Highest chip sample assay of 1.6 g/t Au. Additional sampling underway with a view to fast-tracking a reconnaissance drilling programme.
For more information on Stratex please see the company profile.
