The Doğanbey prospect was discovered by Stratex in mid-2006 following a geological mapping and sampling programme that focused on the first of many target areas (lithocaps) in the Konya Volcanic Belt. The target areas all demonstrated similar satellite-image (Aster) characteristics to those of the Company’s flagship Inlice gold discovery, for which a resource of 262,300 oz gold has already been declared. At Doğanbey, alteration, breccia bodies, and massive to vuggy silica were recorded over an area of approximately 2,000 m x 3,000 m, and anomalous rock values of gold (>25 ppb) and molybdenum (>5 ppm) were recorded over the same area. The maximum gold and molybdenum values were 680 ppb (0.68 g/t) and 327 ppm (0.0327 %) respectively.
Following a site visit in November 2006, international consultant Dr. Richard Sillitoe confirmed the presence of porphyry-style gold mineralization exposed at surface and drew comparisons between the Konya Volcanic Belt and the 40 Moz Maricunga gold belt in Chile.
A subsequent soil geochemistry survey demonstrated that the area was strongly anomalous in gold, molybdenum, and other elements. Follow-up ground-based geophysical surveys (induced polarisation [IP] and magnetic) were completed on a 200 m x 100 m grid in August and September 2007. A strong IP chargeability anomaly was identified, indicating the presence of a chargeable body, possibly representing sulphide minerals. The anomaly encompassed the outcrop of the porphyry mineralization and extended beneath a wide area of barren silica alteration.
Positive magnetic anomalies, indicating the possible presence of the mineral magnetite, combined with the strong IP chargeability, defined a high-priority target area of approximately 600 m x 800 m within the previously identified geochemically anomalous area. Following a review of all the data, three diamond drill holes were undertaken to investigate the coincident geochemical and geophysical targets. Initial drilling has indicated gold grades of approximately 0.1 g/t Au associated with porphyry- and epithermal-style gold mineralization.
Results from initial down hole drilling include:
DODD-1: 281.5 metres grading 0.08 g/t Au from 68.9 metres to end of hole;
DODD-2: 273.9 metres grading 0.13 g/t Au from 175.95 metres to end of hole;
DODD-3: 121.6 metres grading 0.11 g/t Au from 232.6 metres to 354.2 metres.
Further RC drilling has recently been completed and results are as follows:
| Hole | Dip | Depth (m) | Intersection |
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| From (m) | Width (m) | Au (g/t) | |||
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| DORC-01 | -060° | 66.00 | No significant intersection >0.1 | ||
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| DORC-01A | -060° | 106.00 | No significant intersection >0.1 | ||
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| DORC-02 | -060° | 240.00 | 84.00 | 38.00 | 0.10 |
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Stratex has reviewed results from an airborne geophysical (magnetic) survey, together with the geology, wallrock alteration, and geochemical data, and have identified a number of further targets within the Konya Volcanic belt. Please see the 'Konya' section for more details.
