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High grade gold confirmed 227 g/t Au over 1.25m at Anbat; 18.2 m grading 2.25 g/t Au extends shallow gold mineralization


March 21, 2017

Cover Plate – Drilling hole TD-AND-06 at Anbat project

Thani Stratex Resources (TSR) is delighted to announce further  results from the Anbat project within its 100% owned Hodine Concession in southern Eastern Desert of Egypt.

Highlights

  • High grade mineralization in TDAND-04 – 227 g/t Au over 1.25m
  • Upper zone returns 18.2m grading 2.25 g/t Au in TDAND-05.
  • Additional lower gold zones confirmed.

Details

TDAND-001 had confirmed a broad width of felsic porphyry which  assayed:

58.06m grading 2.09 g/t Au from 47.6m with

23.55m grading 4.38 g/t Au from 69.65m

Including 4m grading 12.59 g/t Au from 74m (Figure 1)

N.B. assuming the flat lying nature of the mineralization and the angle of the drill holes the true widths are likely to 80 to 90% of the drill widths.

Holes TDAND-03, 04, 05 and 06 confirmed the new geometry of the zone on the east side of the mineralized intrusive stock with visible gold identified in holes 4 and 5 (Figure 2).

TDAND-03 was drilled below the outcropping zone that the historic hole AND-25 intersected with 24m from surface grading 1.25 g/t Au. However it confirms two lower zones that correlate with AND-25:

10.0m grading 0.99 g/t Au from 117.5m and

11.2m grading 1.02 g/t Au from 144.0m.

These zones correlate with zones in AND-25:

3m grading 1.6 g/t Au from 113m and

8m grading 1.00 g/t Au from 145m.

TDAND-04

6m grading 0.59 g/t Au from 75m;

4.85m grading 1.99 g/t Au from 99.15m;

1.25m grading 227 g/t Au (7.2oz/t) from 128m ;

TDAND-05 drilled east of TDAND-04 and south of TDAND-01 returned:

32.35m grading 1.48 g/t Au from 86.65m;

18.2m grading 2.25 g/t Au from 100.8m.

Also lower zone of

9.6m grading 0.91 g/t Au from 184.4m;

TDAND-06 drilled south of TDAND-05 returned 3 zones:

8.15m grading 0.74 g/t Au from 139.5m;

10.9m grading 1.04 g/t Au from 160.7m; and

7.7m grading 1.15 g/t Au from  213.5 within

20.2m grading 0.57 g/t Au from 201m.

Final results from the last hole TDAND-07 are awaited.

Commenting David Hall, C.E.O. said “These results confirm the extensive shallow gold mineralization at Anbat and in addition add the extra encouragement of additional lower zones. Also the presence of exceptional high grade within a 1.25 metre interval of porphyry adds the extra dimension of possible high grade lodes as seen at Sukari with the Amun and Ptah lodes that were discovered after the mine opened and contribute significant gold from underground to the production from the open pit. We will need further drilling to understand the geometry and extent of this potential high grade zone. The extent of the gold mineralization is now confirmed over 600 by 400 metre area and is open in all directions. It is conceivable that the lower zones in AMD 25 and TDAND 03 will be present closer to the surface to the north and this will be tested. Anbat with Anbat North and the yet untested Nofret Zone where outcropping gold in veins is also present and the previously scout drilled Shakoosh zone that returned one hole with 41m grading 1 g/t Au from surface and Quartz Mountain show the increasing significance and potential of this intrusion hosted gold district.  Our immediate focus will be re-logging previous core and mapping the outcropping extensions east of TDAND-01 and 05. We aim to recommence drilling once reviewed all results to test all the open direction of the porphyry sill mineralization”.

Drilling is been undertaken by Capital Drilling (Egypt) Ltd using Atlas Copco CT14 Truck mounted Diamond Rig.

Sampling, assaying, and QA/QC

TSR sampling of outcropping rocks, drill core, and other geological materials conforms to industry-wide good practice, with 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.

David Hall, CEO

For further Information: 

Mob:    +353 87 618 9867

Email:   david.hall@thanistratex.com

Website: www.thanistratex.com

Vina Patel

Corporate Development

+44 7740 422263

vina.patel@thanistratex.com

 

Drill hole location plan of Anbat showing open areas for further drill testing and expansion.

Figure 1 – Drill hole location plan of Anbat showing open areas for further drill testing and expansion.

Cross section along line of TDAND-02; AND14, 7, 8, 21 and 23 and TDAND 01

Figure 2 – Cross section along line of TDAND-02; AND14, 7, 8, 21 and 23 and TDAND 01 – refer Figure 1 above.

Near surface gold mineralization shown on east and west side of mineralized granodiorite stock.

Note lower zone on east side. Mineralization open to east and west.

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