An International Monetary Fund (IMF) mission led by S. Kal Wajid visited Addis Ababa June 11-25 to conduct discussions for the 2014 Article IV Consultation with Ethiopia.
Stratex International, the AIM-listed gold miner, discovered more gold from drilling at its Megenta hot spring
epithermal gold discovery within its exclusive exploration licence at Tendaho in the Afar Regional State.
These include high grade intersection of 19.50 g/t Au over 0.70 metres in hole MG-DD-12 with the potential for bonanza grades veins.
These occurred within zone of 4.49 g/t Au over 3.25 metres about 70 metres below surface and extend the target zone 460 metres along concealed graben edge. The priority target zone at Megenta now extends over 3 km.
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 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.
Stratex PLC, the British mining company that has been prospecting for gold in the Tigrai and Afar regional regions of Ethiopia, has relinquished three gold exploration projects, according to The Reporter.
