Stratex expanded its activities in the Ethiopia-Djibouti border

(HornTrade) – Gold and base metals explorer Stratex International has expanded its activities into Djibouti with the award of six new licences covering 535 sq km.

They brings the company’s total land package in the Afar Depression to 2,780 sq km, straddling the border of Ethiopia and Djibouti.

Chairman David Hall said, ‘Having explored for epithermal gold in South America and elsewhere for many years, I believe the Afar Depression represents an exciting new epithermal gold province.

‘Importantly, we have an early-mover advantage in the region, and we have used this to stake a large ground position which straddles the border between eastern Ethiopia and Djibouti.

‘Given the company’s healthy cash position, coupled with the support we have received from the governments in both Ethiopia and Djibouti, we are ideally positioned to rapidly advance our development programme in the Afar region and define the economic potential of our land position.’

Source: bfnnews.com

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