News

New Extensive Near Surface Gold Mineralization Defined at Anbat: Drill programme to define initial resource


January 17, 2017

Thani Stratex Resources (TSR) is delighted to update on it’s first drill programme at Anbat and Anbat North within it’s 100% owned Hodine Concession in southern Eastern Desert of Egypt.

Highlights

  • Geological model revised for Anbat shows substantial zone of near surface gold mineralization;
  • Drill intersections of 51 metres grading 1.29 g/t Au; 45 metres grading 1.74 g/t Au are continuous and reflect near true widths of the zone;
  • Anbat North drilling confirms intrusion related Sukari style gold mineralization;
  • Broad zones of anomalous gold and high grade veins;
  • Remaining meters at Anbat to be focused on defining inferred resource for upgrading follow-on drill programme;
  • Anbat confirms new style of mineralization not previously recognized in Arabian Nubian Shield of Egypt.

Details

TSR has drilled three holes at Anbat with the aim to define the vertical extent of what had been interpreted as thin steep intrusive dikes. The first hole TDAND-001 intersected the silicified unit at just after 40m downhole – Figure 1 – which matches defining the top contact as a flat lying feature from the eastern contact of the granodiorite stock out for some 300m and open.

This shows continuity of mineralization from:

AND-008 – 51m grading 1.29 g/t Au from 22m

AND-023 – 45m grading 1.74 g/t Au from 43m and

AND-021 – 11m grading 1.26 g/t Au from 46m.

The zone was cut in TDAND-001 from 42m to 107m with assays awaited.

On a section 100m north previous drilling intersected the zone from surface:

AND-025 – 24 metres grading 1.25 g/t Au;

With additional zones at:

From 113m – 5m grading  1.6 g/t Au and

From 143m – 26m grading 0.9 g/t Au.

The mineralization “daylights” where surface outcrops returned 2.21 g/t , 15.1 g/t, 1.53 g/t, and 1.23 g/t Au.

Drill hole TDAND-002 on the west side of the granodiorite stock also confirmed the mineralization that in AND-014 returned:

160 metres grading 0.9 g/t Au from 24m in the granodiorite and silicified unit

Including

24m grading 2.03 g/t Au from 160m within logged siliceous unit.

Results are awaited for TDAND-002.

The silicified unit is highly altered and had been described as dacite dyke. The geometry now shows it to either a sill or a replacement of a some felsic rock.

Critically TSR has now defined substantial body of near surface gold mineralization that can be shown to extend over some 500 meters by 300m.

This is now considered a priority for testing with the aim to define an inferred resource as soon as possible. An initial target in this zone is for 500,000 oz plus.

TSR will review all the historic drilling now based on new model to define other areas for this zone juxtaposed to the mineralized granodiorite.

Section Line covering TDAND-02, AND-14, 7, 8, 23, and 21 and TDAND 01 N.B. width of section is 640 metres.

Figure 1 – Section Line covering TDAND-02, AND-14, 7, 8, 23, and 21 and TDAND 01 N.B. width of section is 640 metres.

TSR has already had preliminary metallurgical testwork on composite samples of the high grade quartz vein mineralization within the stock and the silicified unit.

Gold head assays ranged from about 1.1 to 8.2 g/tonne across the samples. Sulphur assays ranged from about 0.1 to 2.0 percent; sulphide sulphur measured similarly to total sulphur assays in most cases suggesting most of the sulphur in the samples was present as sulphide minerals. Carbon assayed between about 0.1 and 1.4 percent in the samples and total organic carbon graded very low at about 0.01 to 0.02 percent. Organic carbon is known to result in preg-robbing of gold from cyanidation leach liquors resulting in lower overall gold recovery, but should not be problematic at these low levels.

Each of the six samples was subjected to cyanidation bottle roll tests. The tests were conducted over 48 hours, targeting a nominal primary grind of 75μm K80, a 1000 ppm sodium cyanide concentration, a pH of 11 adjusted with lime, and with oxygen sparging at each sampling interval.

Gold extractions were rapid, nearly reaching completion at the 6 hour sampling interval.

Gold extractions to the leach liquor ranged from about 75 to 99 percent of the gold in the leach feed. The ANMET 002 and 005 samples measured the highest gold extractions at about 99 and 98 percent, respectively. Gold extractions from ANMET 001, 003 and 004 measured 92, 88, and 90 percent, respectively. ANMET 006 measured the lowest gold extractions at about 75 percent. The highest extractions were observed for the samples grading the lowest sulphur content.

These results are encouraging and will be basis for further detailed testwork once a resource  is defined.

At the newly discovered Anbat North zone some 4 kilometres north of Anbat. The gold mineralization is hosted in a different intrusive stock – one of 5 now known in the Anbat-Shakoosh district.

A total of 12 holes have been completed with initial results available up to NAD-006 (Figure 2 Drill plan).

The drilling at Anbat North has confirmed Sukari style Intrusion Hosted Gold (IHG) mineralization. The gold is associated with thin quartz veins and sulphides. The degree of alteration and veining/sulphides is similar to the top to the Sukari deposit. This shows multiple broad low grade gold zones with occasional high grade veins.

NAD-001

From surface 5m grading 0.7 g/t Au

From 18m – 5m grading 2.07 g/t Au

From 57.55m – 4.52m grading 0.38 g/t Au

From 72.4m – 2.75m grading 1.58 g/t Au

From 98.90m – 26.6m grading 0.25 g/t Au

NAD-02

From 1.5m – 9.5m grading 0.69 g/t Au

From 17m – 12.97m grading 0.63 g/t Au

From 44.65m – 4.60m grading 0.66 g/t Au

From 67.75m – 12.65m grading 0.48 g/t Au

From 120.90m – 23.6m grading 0.6 g/t Au

From 151.90m – 2.97m grading 5.9 g/t Au

NAD-003

From 21.6m – 13.4m @ 0.5 g/t Au

From 52.8m – 12.7m @ 0.25 g/t Au

NAD-04

From 92m – 7.5m @ 0.83 g/t Au

From 121.4m – 21.68m @ 0.25 g/t Au

NAD-05

From 38.7m – 15.3m @ 0.15 g/t Au

From 71m – 10.3m @ 0.24 g/t Au

From 108m – 1.3m @ 26.7 g/t Au

From 175.9m – 9.1m @ 0.22 g/t Au

From 191m – 14m @ 0.38 g/t Au

From 229m – 42m @ 0.38 g/t Au including 32.5m @ 0.47 g/t Au

From 296m – 3.8m @ 1.4 g/t Au

NAD-06

From 12m – 9.8m @ 0.22g/t Au

From 30.5m – 36.5m @ 0.22 g/t Au

From 83m – 9.75m @ 0.6 g/t Au

From 102.3m – 7.70m @ 2.32 g/t Au

From 148.7m – 29.3m @ 0.47 g/t Au

From 167.1m – 10.9m @ 0.9 g/t Au.

Drill hole location plan is given below.

Anbat North Drill Location Plan

Figure 2 – Anbat North Drill Location Plan

Conclusions

The newly defined geometry of the mineralization at Anbat will allow a near surface resource to be defined rapidly, preferably within current programme, and if not in the early stages of the 4000m follow on programme.

The economic potential is enhanced as firstly the gold mineralization now definitively outcrops and is easily open-pittable with minimum strip ratio and secondly preliminary metallurgical work shows no issues in recovery.

The gold mineralization is a new style for the Arabian Nubian Shield in Egypt. The entire contact zone near surface is now a target and as the ground is highly disturbed by old workings and covered by sand further drilling will be required.

Silicified “dacite” AND

Figure 3 – Silicified “dacite” AND–08 grading 1.48 g/t Au with disseminated pyrite.

The drilling to date has confirmed a new gold  discovery at Anbat North albeit with sub-economic grades. However, this was the situation at Sukari where top of the ore body was generally less than 0.7 g/t Au as shown in sections from the 43-101 report.

The drilling will be fully reviewed once all results are available.

The Nofret Zone between Anbat North and Anbat where large outcropping veins are present will be targeted with new funds.

At Shakoosh prospect, south of Anbat where previous drilling defined 41m @ 1 g/t Au; 15m @ 1.8 g/t Au and 18m @ 0.6 g/t Au will be fully reviewed in the light of information  gathered from current drilling.

David Hall, CEO
For further Information
Mob:    +353 87 618 9867
Email:   david.hall@thanistratex.com

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