Hasançelebi, approximately 500 km SE of Ankara, lies within the Yamadağ Volcanics, which form part of the Anatolian block. Hosted within probable Miocene-age andesitic and dacitic rocks, mineralization at Hasançelebi is high-sulphidation epithermal gold-silver. Silica ledges are found outcropping close to the contact between andesitic/dacitic flows and the underlying sequence of clastic sediments and minor limestone units.

 

 

Figure 1. Hasançelebi - central silica zone, viewing eastwards, along strike. Grades of 1.16 g/t yielded across widths of 22 m at base.

 

Initial sampling of silica ledges during early exploration work returned values up to 0.9 g/t Au over 4 m. Subsequent geological mapping and chip sampling has identified two, possibly three, sub-parallel siliceous zones (and associated alteration) continuous over a strike length of approx. 7 km. Dipping between 20 degrees and 50 degrees northwards, the widths of the individual zones range from 5 m to in excess of 20 m and comprise a sequence of silica zones and intervening volcanic rocks that exceeds 100 m in width. In addition, new silica zones have also been identified a further 1 km to the east. 

Best continuous values to date within the central part of the prospect average 0.69 g/t Au over a mean width of 7.4 m along a strike distance of 858 m.  Within this, a higher-grade zone averaging 0.99 g/t Au over a width of 9.1 m and a length of 278 m has been identified (0.2 g/t Au cut-off grade). 

  

 

Figure 2. Geological map of Hasançelebi property – silica zones shown in red.

 

Continuous channel sampling of the zones using a diamond saw will now be undertaken and a programme of trenching and drilling is proposed to determine the grade continuity of these gold-bearing zones with depth.  The programme will also define whether there is intervening gold-bearing silica that is not exposed within the plus-100 m-thick package, analogous to the high-grade but easily degraded (weathered) silica evident in the ‘Gap Zone’ at Inlice but only discovered by drilling. The geological evidence points to the silica and contained gold being stratigraphically controlled, i.e. confined to discrete volcanic beds, a factor that is favourable for the development of a large-tonnage mineral occurrence. Exceptionally large ('giant') examples of such bed-replacement deposits include Minera Yanacocha's Yanacocha gold mine (c.40 M oz Au) and Barrick's Gold Corporation's Pierina gold mine, both located in Peru.

 

 

Figure 3. View east along Hasançelebi. Note silica ledges dipping to north (left).

 

In September 2009, Stratex signed a JV with Teck Resources to explore and develop Hasançelebi. Under the terms of the agreement, Teck has the option to fund US$2 million by 31st December 2012 to acquire a 51% interest in the project, with a commitment of US$500,000 before 31st December 2010. This initial funding will be utilised for a mapping, sampling and drilling programme to include at least 2,000 metres of drilling. Teck then has the option to increase its interest to 70%, by expending a further US$3 million over the subsequent three years.