New Results and Previous Drilling Confirms Significant High Grade Gold Potential at Anbat
April 10, 2017
Thani Stratex Resources (TSR) is pleased to announce results of the last hole at Anbat – TDAND-07 and after review of previous drilling the presence of additional high grade results at Anbat project within the 100% owned Hodine Concession in southern Eastern Desert of Egypt.
|TDAND - 07||30.4 m @ 1.706 including 0.65 @ 71.1 g/t Au from 34m;|
|0.75 m @ 45.5 g/t Au at 113.25m;|
|34.45 @ 0.538 g/t Au from 136.55m including 9 m @ 1.159 g/t Au and 5m @ 1.074 g/t Au.|
|AND - 01||23 - 24m grading 70.87 g/t Au;|
|AND - 02||33 - 34 m grading 24.27 g/t Au;|
|AND - 08||181 - 182m at 72.37 g/t Au; and|
|231-232m with 18.38 g/t Au.|
|AND-014||37 to 38m with 21.7 g/t Au;|
|43 to 44m grading 24.67 g/t Au; and|
|160 to 161m grading 63.8 g/t Au.|
|Adjacent 1m. samples of 1.77, 0.74 and 6.77 g/t Au (4m grading 18.2 g/t Au)|
|AND-019||120 to 121m grading 65.51 g/t Au;|
|AND-020||178 to 181m grading 21.53 g/t Au including|
|178 to 179m grading 57.82 g/t Au;|
|AND-022||174 to 175m grading 33.41g/t Au.|
Previous resource estimate* of all the quartz veins within the stock (non-JORC) estimated 767,029 t grading 5.7 g/t Au .
Holes AND-01, 02 and 020 are on same section and 200m north of the section with holes AND- 014 and 08 (see drill hole plan – Figure 1 ).
The previously reported TDAND-04 that returned 227 g/t Au over 1.25 meters at 128m downhole (~111m vertical depth) is on a section 50m south of AND-14 and 08.
TDAND-07 was drilled 190m west of TDAND-04 and it intersected the granite stock. The broad zones of gold within the stock match the mineralization at Anbat North. These wide zones supplement the disseminated extensive gold mineralization in the juxtaposed felsic sills previously reported.
These narrow high grade intersections had been considered as steep veins, however their wide spacing does not match the area of extensive turned ground that was started in the Early Arab period (Klemm and Klemm, 2013)** (Plate I).
The high grade intervals in the granite stock are clearly related to the disseminated gold mineralization in the felsic sills as they have similar elevated arsenic and tellurium geochemistry e.g. AND-08 – 18.38 g/t Au with 277 ppm As and 2.2 ppm Te.
The felsic sill in AND-08 with 51 metres at 1.29 g/t Au averaged 564 ppm As and 1.11 ppm Te.
The Anbat and Anbat North prospects are considered intrusion related gold systems (IRG). Examples of these include Fort Knox in Alaska (1996 - 158Mt grading 0.83 g.t Au/ 2014 production 379,453 oz). Also the Pogo mine (resource 18.9Mt grading 18.9 g/t Au) operated by Sumitomo. In Australia best known examples are Timbarra (13.65Mt grading 0.95 g/t Au) and Kidston (5Moz).
The historical resource estimate prepared for AngloGold Ashanti covered all the quartz veins hosted in the intrusive stock and it clearly shows potential for open-pittable high grade gold to supplement the extensive disseminated gold in the felsic sills now defined over 600 by 400m area.
Figure 1 – AND numbered holes drilled by Thani Ashanti; TDAND by TSR
Commenting David Hall, C.E.O. said “the last results show further high grade gold intersections within broad zones of gold within the intrusive stock. The excellent drill hole database we inherited from Thani Ashanti has allowed a rapid review of previous drilling results. We can now confirm the presence of multiple intersections of narrow high grade gold intervals within the stock. Figure 2 shows the high grade results from Centamin’s Sukari mine*** which we believe Anbat shows many similarities to in terms of geological setting, geochemistry, and host rocks. The area of worked ground by the ancients testifies to extensive surface gold that could be explained by these veins like the felsic sills that host disseminated gold being shallow dipping. The possibility of significant tonnage that is open-pittable is an added bonus for the ultimate possible economics of the project. The gold mineralization – high grade and disseminated is clearly linked as shown by similar geochemistry and therefore likely to have taken advantage of same extensional flat lying setting.
Figure 2 – Examples of high grade narrow intercepts at Sukari.
The Anbat project is developing into a significant discovery with extensive open-pittable gold mineralization supplemented by high grade lodes or shoots. This model will be further tested with future drilling with aim to define a resource by mid-year.”
Anbat prospect is part of the Anbat-Shakoosh gold district defined by TSR with 5 defined areas of gold mineralization, namely from north to south – Quartz Mountain, Anbat North, Nofret, Anbat and Shakoosh.
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.
*Quantitave Group Pty Ltd April 2013 on behalf of AngloGold Ashanti
** D. Klemm and R. Klemm, 2013, Gold and Gold Mining in Ancient Egypt and Nubia. Published by Springer.
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