News

Drilling Recommences at Anbat; Thani and Stratex maintain equity position through funding


May 19, 2017

View of TDAND-008 drill  location, Anbat.

Cover Plate – View of TDAND-008 drill location, Anbat.

Thani Stratex Resources (TSR) is pleased to announce that it has recommenced drilling at the Anbat prospect in Egypt.

Highlights

  • Planned 2380 meters in 10 holes
  • Test extensions to known 600m by 500m area of gold mineralization
  • Define controls on high grade zones
  • Aim to provide initial resource estimate plus exploration target resource
  • Thani and Stratex support their equity positions through further funding

Details

Thani Emirates Resource holdings and Stratex International are providing $1.0M of new funds split according to their equity stakes of 48.4% and 30.4% respectively.

New drillholes will test for the eastern extension of mineralization intersected in TAND-001 that included:

  • 58.6m grading 2.07 g/t Au from 47.60m including 23.55m grading 4.38 g/t Au from 69.65 m.

In addition holes will test the southern extension of mineralization intersected in TDAND-007 that included:

  • 30.4 m @ 1.71 g/t Au from 34m including 0.65 @ 71.1 g/t Au from 45.35m,
    and 0.75 m @ 45.50 g/t Au at 113.25m.

It is intended that these holes will allow definition of an initial resource but also show the upside potential of the gold mineralization to the east, west and south.

Commenting David Hall, C.E.O. said “the recommencement of drilling at Anbat and the support by the major shareholders to maintain their equity positions is a great endorsement of the potential of the project. The combination of disseminated gold in porphyry with high grade zones will be further tested with aim to have an initial resource on the project but equally importantly show the upside for a multi-million ounce gold system. We look forward to updating on the programme in due course”

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.

 

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

Vina Patel
Corporate Development
 +44 7740 422263
vina.patel@thanistratex.com

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