Stratex International plc announced the discovery of notable gold reserves in Ethiopia. The Ethiopian gold deposits were discovered through drilling exploration at the company’s Megenta hot spring epi-thermal gold discovery in the Afar Region of Ethiopia as well as the Akehil gold prospect. 
The recent discovery proves the presence of high grade gold reserves indicating a rich gold system at Megenta said David J. Hall, Executive Director of East Africa for Stratex.
The presence of high grade gold sample discovered at the Akehil gold prospect within close proximity to the Megenta site is also highly significant according to Hall.The Megenta concession is operated by Stratex in partnership with Thanti Ashanti Company.
The Megenta and Akehil prospects are concessions under Stratex’s Tendaho Exclusive Exploration License.
Stratex bases its prospective activity in the Afar region on the belief that bonanza grades of gold are to be found in epithermal veins in the Afar depression.
The Megenta hot spring gold system was discovered in 2009.
In related news The National Mining Corporation plc announced that it discovered gold and base metal reserves in Ethiopia. The Ethiopian mineral discoveries were made in Oromia and Tigray regional states.
The mining corporation estimates that the 550,000 kg gold reserve at Dawa Okote, in Oromia Regional State is worth more than 4 billion US dollars according to Melaku Beza General Manager of National Mining.
The gold reserves discovered at Werri, Tigray Regional State have estimated gold reserves of 18,000 kg expected to be worth 792 million US dollars explained Melaku.
National Mining has completed preparations to begin extracting 80,000kg of gold he said.
Source: Capital
