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Released 07:00 02-Sep-2013
Number 9359M

Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining

Stratex International Plc   

(‘Stratex’ or ‘The Company’)

West Africa Exploration Update

Drilling Confirms Further Mineralisation at Dalafin

Stratex International Plc, the AIM-quoted exploration and development company focussed on gold and base metals in Turkey, East Africa and West Africa, is pleased to provide final results from a recently completed rotary air blast (“RAB”) and air core (“AC”) drilling programme across five key zones at its 75% owned Dalafin project in Senegal.

Highlights

• Final assays from RAB drilling confirm gold mineralisation at fourth target, Madina Bafé, in the Dalafin Exclusive Exploration Licence (EEL).

• Best drill intercepts from Madina Bafé include:
  • 2 m @ 10.00 g/t Au (DFRB-00425)
  • 4 m @ 4.71 g/t Au (DFRB-00205)
  • 7 m @ 2.93 g/t Au (DFRB-00243)
  • 8 m @ 2.82 g/t Au (DFRB-00293)
  • 16 m @ 0.80 g.t Au (DFRB-00090)

• Dalafin EEL renewed for a further 3 year period.

Bob Foster, Chief Executive Officer, said: “We are delighted to have confirmed the presence of mineralization in the Madina Bafé prospect, within our 75% owned Dalafin licence. This is the last of the areas to be targeted by the 33,000metre RAB and AC drilling programme completed earlier this year. In total four out of the five target areas, identified from the results of detailed geochemical and geophysical surveys, have now yielded very encouraging intersections. Many of the zones are open along strike, as well as at depth, and these will be prioritized for further drilling that should commence within the next 2-3 months.

“Given the discovery of a considerable number of multimillion ounce gold deposits in this part of Africa, we are very excited and look forward to seeing the results of the next phase of drilling.”

Further Details

Senegal

Following the intersection of mineralized zones within three target areas at the Dalafin EEL (Faré, Baytilaye, and Saroudia - press release dated 25 July 2013) further assay results from the RAB drilling programme confirm the presence of gold mineralisation in a fourth target, Madina Bafé.   

Located in the southernmost part of the Dalafin license, 514 RAB holes were drilled along 7 fence lines at Madina Bafé, for a total of 8,596 metres, to test five of eight previously defined soil anomalies. Holes intersected multiple gold-mineralized zones at or close to the surface and comprising small (<2 cm) quartz veins hosted in sheared, altered and weathered granodiorite. Best results are shown in Table 1. 

Table 1. Significant intersections from Madina Bafé - RAB drilling. 0.1 g/t Au cut-off

Drilling at Konkonou, the fifth target comprising a soil anomaly that trends NE for approximately 1.5 km failed to deliver any significant intersections.

A follow-up drill programme to investigate priority targets is being compiled, with drilling likely to commence in October or November 2013.

Following the application for a licence renewal at Dalafin, the EEL has been renewed for a further 3 years. In accordance with the mining code of Senegal, the Company has reduced its land position at the property by 25 per cent. The renewed licence area at Dalafin now stands at 472.5 km².

For further information on our projects in West Africa, please visit:

http://www.stratexinternational.com/projects/west-africa    

Sampling, assaying, and QA/QC

Stratex’s sampling of outcropping rocks, drill core, and other geological materials conforms to industry-wide good practice, with chain of custody being observed for all samples. Gold analysis for material sampled in Senegal is undertaken by ALS Chemex at its laboratories in Bamako and ICP (inductively coupled plasma optical emission spectrometry) multi-element analysis is undertaken at ALS Chemex, South Africa.

The Company maintains QA/QC on all analytical work via the use of certified reference materials, field duplicates, and blank samples in addition to monitoring of internal laboratory check-analyses.

Bob Foster, Chief Executive Officer, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information.

* * ENDS * *

For further information please visit www.stratexinternational.com, email [email protected], or contact:

Notes to editors:

Stratex International is a well-funded AIM-quoted exploration and development company focussed on gold and high-value base metals in Turkey, East Africa and West Africa. Since listing on AIM in 2006, Stratex has had an impressive track record of successful exploration supported by joint-venture partnerships, both with major international mining companies and local companies to maximise the potential of its discoveries.

In December 2012 the Company announced the sale of its 30% interest in the Öksüt gold project for cash of 20 times its original US$1 million investment and retained a royalty of 1% up to a maximum additional value of US$20 million.

It currently has a substantial portfolio of projects, with Altıntepe in Turkey scheduled for gold production in 2014 depending on issue of a Forest Permit. To date Stratex has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver, as well as 186,000 tonnes of copper. The Company is well cashed and is therefore well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources, particularly in East Africa and West Africa.