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Stratex International Plc
('Stratex' or 'the Company')
Centerra Exploration-funded 2010 exploration programme commences at the Öksüt gold project, Turkey
Stratex, the AIM quoted exploration and development company focussed on Turkey and Ethiopia, announces the commencement of the 2010 exploration programme at the Company‟s 100%-owned Öksüt high-sulphidation gold project located in central Turkey. The programme is being funded by Stratex‟s joint venture partner Centerra Exploration B.V. ('Centerra'), a wholly owned subsidiary of Centerra Gold Inc., which has the option to earn into 50% of the project by funding US$3 million of exploration by the end of 2012. Centerra has already completed its minimum expenditure commitment of $500,000 by funding geophysical surveys and drilling on the project during 2009.
Stratex‟s Chief Executive Dr. Bob Foster said, “This is an important next step for the exploration of the Öksüt project. With a preliminary resource of 147, 814 oz oxide Au already defined at Ortaçam, the first zone to be drilled, and at least four further zones still to be drilled plus indications of a potential porphyry body at depth, this project is more than living up to expectations. Our joint venture partner, Centerra, has shown considerable commitment to the project in funding the next phase of the exploration programme, demonstrating their belief in the project and our shared vision for the potential upside of this exciting multi-target gold system.”