Stratex sees Afar becoming a major play after bonanza grade samples

(HornTrade) – Stratex International (LON:STI) has found a major new gold vein at its Afar prospect in Djibouti, Africa.

The new vein, called Pandora, is a 5 km long structure hosting a vein up to 2.5 m wide.

It was discovered during helicopter reconnaissance as part of a wider exploration programme by its joint venture partner Thani Ashanti.

Best results from 43 channel-chip samples across the main zone included grades from 9.81 g/t gold to one of 25.9 g/t gold.

One float vein sample 6.5 km NW of the main zone returned a bonanza 80.1 g/t gold and highlighted the potential of the surrounding area, Stratex said.

It has been awarded an exclusive exploration licence for the 93 sq km Oklila area, which covers the Pandora vein system and surrounding ground.

Elsewhere in Djibouti, Stratex added that further analysis of samples from the Hercules rhyolite domes at Asal had shown 0.68 g/t gold over 24 metres and 6.64 g/t gold over 1.8 metres.

Both targets at Hercules will be advanced to drill testing by the end of the third quarter of this year, Stratex said.

David Hall, executive director East Africa, said: “The discovery of such an extensive new epithermal gold vein system at Oklila shows the continuing potential for the Afar Epithermal Gold Province.

“The surface grades from the Pandora vein are highly encouraging, especially as the highest grades are focused on a 500 metre zone of the vein, which may indicate the presence of a high grade shoot that we can quickly target.

“At Asal, the rhyolite domes showed early promise from reconnaissance sampling, and these detailed results firmly establish this style of mineralisation as an important new target in the Afar.”

Hall added that both Pandora and Asal will be the focus of exploration with Thani Ashanti over the coming weeks, with the aim to drill test by the end of September.

“The Afar Epithermal Gold Province is developing into a new major play that Stratex, either in partnership with Thani Ashanti or in its own right, has first mover competitive advantage,” he said.

Source: proactiveinvestors

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