Stratex strikes gold in Ethiopia

Stratex gold Ethiopia discovery 2Stratex International's first phase drilling project in Ethiopia's Black Water Zone has revealed extensive gold mineralisation. (Image source: Agnico-Eagle)Stratex International has announced positive results from the first phase of its Blackrock drilling operations in Ethiopia’s northern Afar region

The international mining firm has revealed that extensive gold mineralisation has been discovered in four veins of the Black Water Zone, as a result of a drilling programme of 33 holes over more than 4,700 metres, each approximately 100 metres deep.

Stratex East Africa executive director David Hall said, "Completion of our initial drilling programme on the Black Water Zone at Blackrock has shown the potential of a major epithermal vein system.

"With just under 5,000 metres drilled so far, the Black Water prospect still has significant untested potential.”

The discovery, which follows recent news of encouraging results from the company’s channel-chip sampling project in neighbouring Djibouti, has caused Stratex shares to climb five per cent.

Hall concluded, “Our programme of exploration and drilling will continue in the Black Water Zone and will be extended to the other three systems identified within the wider Blackrock licence as we continue to explore this emerging new epithermal district.”

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