LONDON (ShareCast) - (ShareCast News) - Shares in Stratex International were down more than 2% late on Friday following an update on the Homase/Akrokerri project in Ghana by Goldstone Resources Ltd.
Stratex holds a 33.45% stake in Goldstone.

The update said reverse-circulation drilling of a 750 metre-long gold-enriched saprolite zone identified within the AK02 prospect confirmed mineralisation at depth and returned significant intersections of 14 metres @ 1.18 g/t gold ("Au") and 8 metres @ 1.88 g/t Au.

It added that a 120 hole infill auger programme defined a new 1,250 metre by 350 metre zone of gold enrichment in saprolite located about 100-200 metres east of the 2015 auger anomaly.

Geological interpretation of the 2016 auger and RC drilling indicated that the complex structural zone between Homase and AngloGold Ashanti's Obuasi Mine was prospective and that the south-western extension of the main Homase mineralised zone has been offset 200 metres eastward by faulting.

Reverse-circulation drilling of the southern part of the previously identified Homase-Akrokerri resource zone confirmed continuity of the zone but with limited potential for identifying additional oxide resource.

The update said diamond drilling, targeting vertical depths of 200-300 metres, had commenced to evaluate high-grade ore shoots beneath the known Homase oxide resource.

At about 16:27 GMT, shares in Stratex were down 2.5% to 1.95p.

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