The Company’s exposure to exploration in East Africa is through privately-owned Thani Stratex Resources Ltd (30.4%) and TSX-listed Tembo Gold Corp (11.6%), for their assets in Djibouti and Egypt, and Tanzania respectively.
In May 2017, Stratex participated in a US$1 million fund raise to advanced Thani Stratex’s Hodine licence in Egypt, which hosts the Hutite and Anbat prospects.
Discovered by Stratex in 2012, the 93 sq km Oklila licence includes the main Pandora epithermal vein target (comprising Pandora and Pandora South prospects). The Assaleyta licence is Located c.16 km to the North of Pandora, low-sulphidation epithermal gold occurs as high-grade veins and disseminated mineralisation in rhyolite domes.
In December 2013, Stratex entered into a C$5.95 co-investment with New Africa Mining Fund II and Concept Capital Management Ltd for the exploration and development of Tembo Gold Corporation’s 100 sq. km Tembo gold licence, adjacent to Acacia Mining’s Bulyanhulu Mine in Tanzania.