Stratex International eyes large gold area at Shehagne in northern Ethiopia
24 November 2009
AIM-quoted mineral exploration outfit Stratex International has reported positive gold results from its drilling programme at the 50 sq km Shehagne exclusive exploration licence in northern Ethiopia.
Channel-chip results have returned broad zones of gold mineralisation, with one 51 metre section grading 0.88 grams per ton of gold – 17 metres of which graded 2.0 grams per ton of gold. Regional stream sediments have also returned promising results and defined a number of further targets.
Earlier this year, Stratex agreed a 60/40 earn-in on the licence area with Plus Markets-listed Sheba Exploration. The company is now planning follow-up exploration work to advance the prospect to drilling in 2010.
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