Stratex Says Anbat Mineral Resource Estimate Contained "Deficiencies"

LONDON (Alliance News) - Stratex International PLC said on Thursday the mineral resource ...

Alliance News 7 December, 2017 | 11:27AM
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LONDON (Alliance News) - Stratex International PLC said on Thursday the mineral resource estimate released by Thani Stratex Resources Ltd for the Anbat gold project contains some inaccuracies.

Thani Stratex Resources said on Wednesday it completed drilling of 11 holes at the Anbat project in Egypt with a JORC compliant report estimating 5.9 million tonnes at a grade of 1.11 grammes per tonne of ore for a total inferred resource of 209,000 gold ounces.

The study estimated a starter operation through an open pit could work off a resource of 2.9 million tonnes of ore graded at 1.08 grams per tonne for 100,839 ounces of gold.

However, Stratex said today it has been made aware the report "contains some deficiencies" and that the material technical disclosure was not given over for review by mining consultants CSA Global.

This is being rectified, Stratex said, with further updates to be provided soon.

Stratex has a holding in Anbat's operator Thani Stratex Resources of just over 30% after making a further USD200,000 investment in the firm on Wednesday.

Stratex shares were up 4.2% Thursday morning at 1.25 pence each.

By George Collard;

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Stratex International PLC 0.51 GBX 0.00 -
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