Stratex International is showing progress in the development of its gold discoveries according to Christopher Hall Chairman of the company.
The company’s assets in Ethiopia, Turkey and Djibouti are particularly promising said Hall as part of the interim results for the company.
Stratex has had good progress in Africa as it continued work on several exciting and high potential exploration sites he added.
The Blackrock project Ethiopia has been confirmed as showing ‘extensive’ gold mineralization across four of the five key sites identified by Stratex in the area while 1000 meters of drilling work on the Shehagne project has been completed.
Stratex also noted that it has demonstrated significant continuity on gold grades over more than 1000 meters of strike length on the Pandora gold vein over the border in Djibouti according to the company.The company is also making progress on the exploration of assets in Mauritania and Senegal.
The past six months have resulted in exciting developments across the Stratex portfolio of exploration and development efforts said Hall. The company has now established the foundations of positive and risk reduced growth of the company he noted.
Stratex grossed 7.9 million pounds in the first six months through share placing and was able to book 419546 pounds following the sale of a 50% share in its Öksüt concern to Centerra.
Source: Proactive Investors
