Stratex has a 30.4% interest in privately-owned Thani Stratex Resources Limited for its projects in Egypt and Djibouti. In April 2016, Thani Stratex raised US$2 million to advanced its Hodine licence in Egypt, which hosts the Hutite and Anbat prospects.
The Hutite system, located in south-eastern Egypt, is hosted by a melange of ultramafic/mafic rocks and represents one of the many suture zones between tectonic terranes in the Eastern desert of Egypt and indeed as seen all over the Arabian Nubian Shield.
Former operator Thani Ashanti drilled over 30,000 metres of RC and diamond drilling between December 2010 and March 2013. On the basis of this work, South Africa-based Quantitative Group estimated an Inferred Resource (non-JORC) of 11,410,000 tonnes grading 1.41 g/t Au for 520,000 in-situ ounces using 0.4 g/t Au cut-off.
The Anbat-Shakoosh district, located within a 15 km-long belt to the south of Hutite, hosts broad zones of near-surface gold mineralisation within steeply-dipping, silicified (and sulphide-rich) felsic dikes as well as more shallow-dipping sheeted veining within an adjacent granitic unit.The district currently hosts three prospects: North Anbat, Anbat and Shakoosh. Anbat and, to a lesser extent, Shakoosh have been the main focus of exploration to date, with former operator Thani Ashanti completing a total c.14,000 meters of diamond and reverse circulation drilling across the prospects.
At Anbat, recent drilling by Thani Stratex has suported a revised geological model for a near-surface, flat-lying zone of gold-mineralisation on the eastern side of an identified mineralised intrusion. Reported intercepts have confirmed the continuity of broad zones of mineralisation defined by the historic drilling, as well as narrower high-grade intervals of up to 227 g/t Au over 1.25 m.
Thani Stratex has also drilled 12 holes at the newly discovered Anbat North zone, confirming Sukari-style intrusion-hosted gold mineralisation, where gold is associated with thin quartz veins and sulphides. Thani Stratex plan to use new funds to target large outcropping veins at the Nofret Zone, located between Anbat and Anbat North.