Our interests in Egypt are operated by Thani Stratex Resources Limited, in which Stratex owns a 30.4% interest. Please click here for further details. In April 2016, Thani Stratex raised US$2 million principally to advanced their Eqyptian prospects as well as for general corporate purposes.
The Hutite system, located in south-eastern Egypt, is hosted by a melange of ultramafic/mafic rocks and represents one of the many suture zones between tectonic terranes in the Eastern desert of Egypt and indeed as seen all over the Arabian Nubian Shield.
Former operator Thani Ashanti drilled over 30,000 metres of RC and diamond drilling between December 2010 and March 2013. On the basis of this work, South Africa-based Quantitative Group estimated an Inferred Resource (non-JORC) of 11,410,000 tonnes grading 1.41 g/t Au for 520,000 in-situ ounces using 0.4 g/t Au cut-off.
The Anbat-Shakoosh district, located within a 15 km-long belt to the south of Hutite, hosts broad zones of near-surface gold mineralisation within steeply-dipping, silicified (and sulphide-rich) felsic dikes as well as more shallow-dipping sheeted veining within an adjacent granitic unit. At the Anbat projspect, originally operated by Thani Ashanti, diamond drilling in 2012 returned best results of 69 m @ 1.21 g/t Au, 65 m @ 1.12 g/t Au and 160 m @ 0.99 g/t Au. More recently, gold mineralisation has also been identified at the Tut, Amun and Hamis zones within the Anbat North propect.Thani Stratex is planning further drilling at both prospects.