Approximately 500 km SE of Ankara, the Hasançelebi high-sulphidation epithermal gold-silver project hosts stratigraphically-controlled mineralisation over a strike length of approx. 7 km.
Drilling to date has demonstrated the potential for low-grade, high-tonnage, near-surface gold mineralisation extending over a distance of between 1,000 metres and 2,000 metres, and vertical continuity of the system confirmed down to 300 metres in some areas. Best results include 16.05 metres averaging 0.45 g/t Au and 15.75 metres averaging 0.28 g/t Au. Two holes were also drilled into a new prospect (Karakaya Tepe) near the eastern end of the main Hasançelebi system, believed to be an iron oxide-copper-gold occurrence. The two best intersections returned were from hole HCD-11 – 28.00 metres averaging 0.30 g/t Au and 40.80 metres averaging 0.69 g/t Au.
Negotiations are currently underway with a third party that has expressed interest in the project.
In February 2018, Stratex announced the signing of an agreement with TET Madencilik Ltd. Şti. for the further exploration Hasançelebi and a second earlier-stage project, Doğala. Stratex has agreed to transfer the licences to TET and under the terms of the Agreement, TET has paid Stratex US$50,000. Stratex will manage exploration and if a minimum JORC-compliant Indicated or Measured gold resource of 100,000 oz, (with a 0.3 g/t cut off) is defined within the oxide and transition zones at Hasançelebi, TET is required to pay Stratex a further US$500,000. Stratex will also receive a 1.5% NSR royalty on any future precious metals production at the licences, and a 5% NSR on any future production of other metals or industrial raw minerals.