JOHANNESBURG (miningweekly.com) - Aim-quoted exploration and development company Stratex said on Thursday that it had discovered maximum grades of 52,5 g/t of gold at the extreme south-west end of its Shehagne Tsemmetti zone in northern Ethiopia.
Stratex executive chairperson David Hall said that the latest results from Shehagne, extended an already strike-extensive gold vein system to more than a kilometre and suggested a potential for bulk mineable mineralisation.
"With this in mind we are reviewing the option to undertake reconnaissance drill-testing of the zone but the timing of this will be dependent on the development of our other exciting projects in Ethiopia to ensure that our capital and resources are used effectively," said Hall.
Channel-chip sampling that was completed across the main Tsemmetti zone, has extended the bedrock mineralisation by 440 m to a total 1 340 m, with mineralisation remaining open to the south-west. Sampling results included grades of 2,49 g/t of gold at 9 m.
Meanwhile, Stratex also acquired new licences in northern and central Ethiopia, which would be the focus of gold and base -metal exploration, to further bolster the company's portfolio within the country.
"Our move into Ethiopia has proved exciting and, as the acquisition of new licences illustrate, we are committed to building our presence here.
"The addition of the Berahale licence to our ground position in the northern part of the country provides expanded opportunities for the discovery of Shehagne-type gold-quartz vein deposits as well as a range of gold-base metal deposit-types. We have also targeted the Gademsa volcanic centre in the main Ethiopian rift as it bears many similarities to our low-sulphidation gold discovery at Megenta," Hall concluded.