News Release

Pandora Drill Results


April 19, 2018

New High Grade Intercepts including 1.22m grading 55.4 g/t Au and 1.4m grading 17.31 g/t Au at Pandora


Cover Plate – Part of sample that assays 26.1 g/t Au from 149.40 to 150.20m in Ok-D-25

Thani Stratex Resources (TSR) is delighted to announce the final results from the second drill programme at the Pandora epithermal gold prospect in the Republic of Djibouti. These include one bonanza (>30 g/t Au) intersection on the previously untested Pyrrha vein.

Total drilling to date on this large epithermal system is  5195.50m in 33 holes.

Highlights  
Ok-D-25 7.71m grading 7.75 g/t Au including:
  1.4m grading 17.31 g/t Au
Ok-D-31 15.0m grading 2.41 g/t Au
Ok-D-32 9.0m grading 8.2 g/t Au including:
  1.22m grading 55.4 g/t  (1.77oz/t) Au

Details

The second programme completed 3036.50 metres in 18 holes. The aim had been to extend the gold mineralisation to the NW as well as tests on widely spaced holes the extension to the SE. The distance from the furthest NW hole – Ok-D-33 to that in the SE – Ok-D-28 is 2400 metres (Figure 1).


Figure 1 – Location of drill holes relative to mapped extent of the veins.

Table 1: Key mineralized intersections for Phase 2 DD drilling at Pandora

Hole No Dip (°) From (m) To (m) Drill Width
(m)*
Average Au
Grade (g/t)*
OK-D-21 -55 151.21 163.70 12.49 1.05
Including   161.83 13.70 1.87 3.37
Ok-D-22 -45 50.00 66.15 16.15 1.05
includes   52.36 55.82 3.46 1.97
Ok-D-23 -65 105.36 112,01 7.37 1.22
Ok-D-24 -51 115 116.90 1.90 1.43
Ok-D-25 -60 144.55 152.26 7.71 7.75
includes   148.80 150.20 1.40 17.31
Ok-D-26 -55 145.90 154.63 8.73 0.59
includes   151.0 154.63 3.63 1.30
Ok-D-27 -45 93.0 104.90 11.90 0.40
includes   96.0 97.0 1.00 3.57
Ok-D-28 -60 35.28 46.00 10.72 0.41
includes   38.25 41.40 3.15 1.18
Ok-D-29 -60 130.0 134.55 14.55 0,87
includes   130.48 136.33 5.85 1.90
Ok-D-30 -45 No significant assays  
Ok-D-31 -45 111.07 135.47 24.40 1.74
includes   115.0 124.80 9.80 3.06
Ok-D-32
Pyrrha Vein
-50 42.60 51.60 9.00 8.20
Includes   50.38 51.60 1.22 55.4
Ok-D-33 -45 100.46 105.00 3.54 2.35
includes   102.17 102.80 0.63 6.08

* True widths are estimated to be between 42% and 71% of the reported (downhole) intersection lengths.

Ok-D-21 was drilled 50m off section of OK-D-12/13. This resulted in the deepest intersection to date at ~170m a.s.l. and 160m from current surface. 

Drill hole Ok-D-23 is on the same section as hole 22 and both show continuity down to 120m from the surface.

Ok-D-25 was drilled 200m to the NW of 22/23. The hole intersected 7.71m grading 7.7 g/t Au within which excellent intervals of 1.4m @ 17.31 g/t Au; 1.17m @ 9.3 g/t Au and 1.15m @ 12.54 g/t Au. Above this zone is a broad low grade 17.35m @ 0.4 g/t Au.

The whole zone averages 2.38 g/t Au over 27.86m with estimated true width of 13.9m.

Ok-D-27 was drilled at -45 on the same section. The mineralization correlated well but with lower grades. This shows the variability that is expected in such a dynamic fluid system.

Ok-D-29 was drilled approximately 100m NW of 25/27.

The hole hit the expected zone of hydrothermal silicified breccias at 130m downhole with broad zone of 14.55m assaying 0.87 g/t Au within which 3.05m gave 2.32 g/t Au.

Ok-D-31 is a further 100m NW and another wide zone of 24.4m grading 1.74 g/t Au within which there is 9.8m grading 3.06 g/t Au. The true width of the wide zone is approximately 17 metres.

Ok-D-33 was the last hole and is additional 100m along strike from 31. This again had broad zone of low grade – 19.35m grading 0.49 g/t Au but within which 3.54m averaged 2.35 g/t Au.

Holes Ok-D-24, 26, 28 and 30 were drilled to the SE of the current main drilled zone.

The holes intersected alteration and hydrothermal breccias and minor veining. However in comparison to the holes to the NW there is extensive kaolinite alteration which appears to be the result of acid drainback down a major fault structure.

Ok-D-24 returned 32.6m with 0.29 g/t Au from 84.3m with 1.9m giving 1.43 g/t Au.

Ok-D-26 some 650m to the SE gave 8.73m from 145.9m grading 0.59 g/t Au within which 3.63m averaged 1.3 g/t Au.

Ok-D-28 and 30 were drilled 350m SW on the other side of the wide wadi and presumed structure. 28 hit the structure again with intense kaolinite alteration with 10.72m grading 0.41 g/t Au with 3.15m averaging 1.18 g/t Au.

The zone requires further testing to define mineralization below the kaolinite alteration. The wide wadi presumed structure between Ok-D-26 and 28 will also be tested.

Commenting David Hall, C.E.O said, “ we are delighted with these results from Pandora which show excellent grades over broad widths and continue to show the considerable potential of the greater Pandora project. We are now seeing good continuity over 1000m strike and to depths of 150m below current surface. The presence of high grade in holes 25 and 32 are significant. The intercept in 25 is some 130m below the current surface with the entire zone assaying 1.05 g/t Au over 66.5m drill width or an estimated true width of 30 metres. However the 1.4m assaying 17.31 g/t Au shows the important presence of high-grade gold even at these high levels in the epithermal system.

The single hole on Pyrrha vein which appears as a secondary structure to the main Pandora vein returned bonanza grade of 55.4 g/t Au or 1.77oz/t over a respectable 1.22m within 30m of the surface. The Pyrrha vein though narrow on surface has been mapped for over 400m and now becomes an important second zone for additional drill testing. We will be getting multi-element assays so as to assist in vectoring the high grade zones and also structural work to define dilation zones of greater width within the structure drilled to date. We will complete initial metallurgical testwork whilst planning the next phase of drilling. We have received considerable interest from third parties and a number are now under NDA’s for the project. We will seek ways of maximizing the potential of the project for the benefit of all shareholders. ”

Pandora and Assaleyta are part of a portfolio of new gold discoveries in Djibouti and over which TSR, through its subsidiary Thani Stratex Djibouti Ltd (TSD), controls 601 square kilometres of concessions and gives the company unparalleled competitive advantage to benefit from early development.

The drill programme is funded jointly by TSR (50%) (through investments made by Thani Emirates, Stratex International plc and Resource Capital Funds) and NEX (50%).

The drill programme was undertaken by Energold Drilling using a man-portable EGD-II and one Series III rig.

Sampling, assaying, and QA/QC

TSR sampling of outcropping rocks, drill core, and other geological materials conform to industry-wide good practice, with the chain of custody being observed for all samples. Gold analysis for material sampled in this campaign is undertaken by ALS Chemex laboratory in Romania. The Company maintains QA/QC on all analytical work via the use of certified reference materials, field duplicates, and blank samples in addition to monitoring of internal laboratory check analyses. David J. Hall, Chief Executive Officer, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information.

For further Information:

David Hall Vina Patel
CEO Corporate Development
Mob: +353 87 618 9867 +44 7740 422263
Email: david.hall@thanistratex.com vina.patel@thanistratex.com
Web: www.thanistratex.com  


Plate II - Part of sample that assays 9.91 g/t Au in OK-D-32


Plate III - Part of sample that assays 13.1 g/t Au from 144.55 to 145.06m in Ok-D-25, with poly phased veins including sulphide-rich bands, within a silicified rock-flour matrix.


Plate IV - Part of sample that assays 6.65 g/t Au from 116.00 to 117.17m in Ok-D-31, with banded calcite and silica veins within a silicified hydro-breccia.


Plate V - Part of sample that assays 6.08 g/t Au from 102.17 to 102.80m in Ok-D-33, with various textures from poly-phased silicified breccias to silica veins.

Appendix 1

Please click here for JORC Table 1 disclosure.

Appendix 2


FIGURE A2.1 – Pandora drill plan.


FIGURE A2.2 – Interpretative cross-section for holes Ok-D-12/13 showing downhole gold grade and key mineralized intersections.

Appendix 3

Table A3.1. Collar information for DD holes completed to date at Pandora.

Hole No Easting
(m)
Northing
(m)
Elevation
(m)
Azimuth
(°)
Dip
(°)
Max Depth
(m)
Ok-D-01 219320 1261570 291 229 -47 100.15
Ok-D-02 219320 1261570 291 229 -65 138.8
Ok-D-03 219405 1261525 294 233 -45 120
Ok-D-04 219405 1261525 294 233 -65 162.9
Ok-D-05 219458 1261423 293 232 -45 94.35
Ok-D-06 219458 1261423 293 232 -65 150.6
Ok-D-07 219246 1261747 287 232 -50 193.65
Ok-D-08 219043 1261824 284 40 -45 167.5
Ok-D-09 219043 1261824 284 40 -66 254.45
Ok-D-10 218988 1261967 327 52 -45 138.45
Ok-D-11 218988 1261967 327 52 -65 173.5
Ok-D-12 218952 1262172 329 230 -45 108.25
Ok-D-13 218952 1262172 329 230 -65 151.2
Ok-D-14 218849 1262307 313 230 -45 80.5
Ok-D-15 218849 1262307 313 230 -65 124.7
Ok-D-16 218918 1261910 298 48 -51 323
Ok-D-17 219033 1261913 317 49 -45 115.75
Ok-D-18 219033 1261913 317 49 -65 118.75
Ok-D-19 219020 1262116 335 228 -45 150.75
Ok-D-20 219020 1262116 335 228 -65 201.05
Ok-D-21 218861 1262100 300 48 -55 250
Ok-D-22 218842 1262195 306 48 -45 120.25
Ok-D-23 218842 1262195 306 48 -65 150.95
Ok-D-24 219710 1261309 302 40 -51 216.05
Ok-D-25 218707 1262340 331 48 -60 191.8
Ok-D-26 220282 1261024 322 38 -55 191.1
Ok-D-27 218707 1262340 331 48 -45 123.2
Ok-D-28 220169 1260819 333 38 -60 97.1
Ok-D-29 218653 1262410 326 50 -60 175.05
Ok-D-30 220140 1260780 327 218 -45 148.6
Ok-D-31 218569 1262468 296 48 -45 191.9
Ok-D-32 218589 1262080 311 219 -50 121.2
Ok-D-33 218519 1262544 315 45 -45 150

Table A3.2. Material exploration results for Pandora DD holes.

Hole No From (m) To (m) Drill Width
(m)*
Average Au
Grade (g/t)*
Ok-D-01 47.05 50.10 3.05 1.11
Ok-D-02 62.55 67.20 4.65 0.29
Ok-D-03 32.06 32.71 0.65 2.56
  80.35 81.40 1.05 0.93
Ok-D-04 38.05 50.70 12.65 0.27
includes 38.50 39.65 1.15 0.63
Ok-D-05 35.10 46.20 11.00 0.49
Ok-D-06 54.90 61.05 5.15 1.80
Ok-D-07 97.17 100.41 3.24 0.49
Ok-D-08 21.35 24.43 3.08 0.42
Ok-D-09 161.40 168.00 6.60 0.49
Ok-D-10 87.20 91.15 3.95 4.49
includes 87.20 88.75 1.55 7.49
  90.00 90.55 0.55 6.55
Ok-D-11 49.27 57.95 8.68 1.35
  147.00 150.84 3.84 5.19
Ok-D-12 51.10 57.97 6.87 4.45
includes 56.60 57.96 1.36 10.55
Ok-D-13 78.00 82.70 4.70 3.41
includes 81.20 82.00 0.80 13.90
Ok-D-14 28.30 46.55 18.25 0.52
Ok-D-15 54.60 65.30 10.70 0.74
Ok-D-16 91.55 98.13 6.58 0.23
includes 92.63 93.10 0.47 1.15
Ok-D-17 4.23 18.30 14.07 1.54
includes 4.23 8.50 4.27 3.06
Ok-D-18 8.45 43.85 35.40 0.38
includes 10.80 11.80 1.00 1.29
Ok-D-19 71.60 79.00 7.40 1.07
  89.75 107.35 17.60 0.44
includes 98.90 101.95 3.05 0.99
Ok-D-20 92.25 109.55 17.30 1.42
includes 101.28 109.55 8.27 2.62
includes 101.28 103.85 2.57 4.39
Ok-D-21 151.21 163.70 12.49 1.05
includes 161.83 163.70 1.87 3.37

 

Ok-D-22 50.00 66.15 16.15 1.05
includes 52.36 55.82 3.46 1.97
Ok-D-23 105.36 112,01 7.37 1.22
Ok-D-24 115 116.90 1.90 1.43
Ok-D-25 144.55 152.26 7.71 7.75
includes 148.80 150.20 1.40 17.31
Ok-D-26 145.90 154.63 8.73 0.59
includes 151.0 154.63 3.63 1.30
Ok-D-27 93.0 104.90 11.90 0.40
includes 96.0 97.0 1.00 3.57
Ok-D-28 35.28 46.00 10.72 0.41
includes 38.25 41.40 3.15 1.18
Ok-D-29 130.0 134.55 14.55 0,87
includes 130.48 136.33 5.85 1.90
Ok-D-30 No significant assays  
Ok-D-31 111.07 135.47 24.40 1.74
includes 115.0 124.80 9.80 3.06
Ok-D-32
Pyrrha Vein
42.60 51.60 9.00 8.20
Includes 50.38 51.60 1.22 55.4
Ok-D-33 100.46 105.00 3.54 2.35
includes 102.17 102.80 0.63 6.08

* True widths are estimated to be between 42% and 71% of the reported (downhole) intersection lengths.

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