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Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining

Stratex International Plc  

('Stratex' or 'the Company')

Mineralisation Confirmed over 1.2 km Strike at Madina Bafé Prospect, Dalafin

Stratex International Plc, the AIM-quoted exploration and development company, provides encouraging results from its Dalafin gold project (‘Dalafin’ or the ‘Project’) in Senegal, following exploration work at the Madina Bafé prospect (‘Madina Bafé’ or the ‘Prospect’) in the south of the licence area.

The 472.5 sq km Dalafin gold licence, of which the Company owns 85% through its wholly-owned subsidiary Stratex West Africa, is located within the highly prospective Kédougou-Keniéba Gold Belt in the south-east of the country. To date, the Company has identified five key prospects; Faré (North and South), Konkonou, Baytilaye, Saroudia and Madina Bafé.

Highlights:

· Sheeted tourmaline-quartz veins and quartz-tourmaline breccias confirmed over 1.2 km NE strike and over a width of 30- 45 m;

· Trench mapping and sampling completed for a total 1,052 m with channel-sampling results including:

o 4.0 m @ 1.40 g/t Au (MBT-005);

o 6.0 m @ 0.86 g/t Au incl. 1.0 m @ 4.40 g/t Au (MBT-005);

o 1.2 m @ 1.14 g/t Au (MTB-003); and

o   1.0 m @ 1.77 g/t Au;

· The sampled material within the trenches is dominantly highly weathered and leached; as a result, the gold mineralisation is lower grade than the unweathered material and is likely not to be representative of the potential mineralisation at depth;

· Selective unweathered grab samples of quartz-tourmaline veins commonly return elevated gold assay values up to 22.24 g/t Au;

· Follow up trenching considered for Q4-15 with drilling potentially next year.

Bob Foster, Stratex Chief Executive, said: “The trenching, mapping, and sampling programme has confirmed the presence of a sizeable mineralised zone in the south-east part of the Madina Bafé prospect, which relates closely to a substantial structural zone identified from aeromagnetic data. The mineralisation remains open to the east. The low to moderate assay grades are indicative of a substantial mineralised structural zone and it is probable that the modest gold grades actually reflect leaching of the gold in the weathered part of the regolith profile. Drilling between trenches MBT-003 and MBT-004 has previously returned excellent intersections - including 9.6 m @ 16.08 g/t Au and 7 m @ 2.93 g/t Au - that are indicative of depth-continuity of the zone and of elevated gold contents.”

The Company has recently completed an exploration programme at Madina Bafé, comprising prospect-wide detailed regolith mapping, and trench mapping and sampling in the south-east of the prospect. Four trenches (MBT-003, MBT-004, MBT-005 and MBT-006) totalling 1,052 m have been completed over previously-identified anomalous zones defined by rotary air blast (‘RAB’) drilling (announcement dated 2 September 2013) and deeper reverse circulation ('RC') and diamond drilling (announcement dated 16 July 2014). These have defined a broad NE-trending mineralised shear zone, 30-45m in width, over a minimum distance of 1,200 m. Gold mineralisation is predominantly associated with either sheeted quartz-tourmaline veins (+/-pyrite) or quartz-tourmaline breccias, within a granodioritic host rock. The geological setting of mineralisation is very similar to that of IAMGOLD’s Boto project immediately to the east, where significant drilling intersections – including 36 metres at 3.59 g/t gold – have recently been reported from their Malikoundi prospect.

A total of 649 samples were collected as composite horizontal channel samples (1 m or 2 m, according to observed geology, mineralisation and alteration) and selective grab samples of vein and breccia. Sampling has identified a number of mineralised veins sets over a total strike length of 1 km and best results are presented in Table 1 (for intersections) and Table 2 (for selective vein grab samples).

Table 1. Significant intersections* from trench sampling at Madina Bafé.

* 0.1g/t Au cut off and dilution of one interval – i.e. where the sampling is executed at 1 m interval the dilution is 1m and where it is at 2 m interval the dilution is 2 m.

Sampled material within the trenches is often highly weathered and leached and thus any mineralisation intersected is likely to be significantly lower than unweathered material as highlighted by the higher grades (up to 22.24 g/t Au over 0.1 m) yielded from selective vein samples (Table 2).

Table 2. Significant (>0.3 g/t) selective vein grab samples from trench sampling at Madina Bafé.

MBT-004 failed to intersect bedrock to a depth of almost 6 metres due to a deep weathering profile. However, the presence of abundant transported materials (mostly quartz-tourmaline veins and breccia boulders) within the trench suggest proximity to mineralised source rocks. Drilling between trenches MBT-003 and MBT-004 has previously returned excellent intersections - including 9.6 m @ 16.08 g/t Au and 7 m @ 2.93 g/t Au - that are indicative of depth-continuity of the zone and of elevated gold contents.

Additional trenching is being considered across both the strike extension of Madina Bafé South-East and Madina Bafé West in Q4-2015, ahead of a potential drilling programme across key targets in the Dalafin licence next year.

For more information on the Dalafin Project, please see http://www.stratexinternational.com/project/dalafin.

Sampling, assaying, and QA/QC

Stratex’s 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 Bureau Veritas Mineral Laboratories in Cote d’Ivoire.

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.

Dr Bob Foster, Chief Executive Officer, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information.

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For further information please visit www.stratexinternational.com, email [email protected], or contact:

Notes to Editors:

Focused on the exploration and development of gold and high-value base metals, Stratex International is active in Turkey and Senegal and has strategic interests in East Africa and Ghana. Since listing on AIM in 2006, Stratex has had an impressive track record of successful exploration supported by joint-venture partnerships, both with major international mining companies and local companies to maximise the potential of its discoveries.

To date Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company is looking to completion of construction of its 45%-owned Altintepe gold project in Turkey in August 2015 and anticipates gold production before year-end. Additionally a 1% production royalty capped at US$20 million will be due from the Öksüt project, also in Turkey, with first production provisionally targeted for Q2-2017 by owners Centerra Gold. With its current cash position and projected cash returns, the Company is well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources.Call