Öksüt is Stratex’s latest high-sulphidation (HS) gold discovery in Central Anatolia, located 25 km south of Develi and 70 km south of Kayseri.  The 109.4 km2 licence area is hosted within Miocene andesitic lava domes and pyroclastics, with units showing both structurally and lithologically controlled alteration, predominantly silicification and advanced argillic alteration.

Figure 1. Early drilling at the Ortaçam zone, looking to the south.

The main Ortaçam Zone (Fig. 1) was targeted on the basis of significant gold grades (including 0.93 g/t Au over 25 m) yielded from rock samples obtained during 2007. Based on results from the initial sixteen diamond drill holes during 2008 and 2009 for a total of 3,352.50 m, Stratex has realised a preliminary in-house resource of 147,814 oz oxide gold, with an average grade of 1.21 g/t Au, using a cut-off of 0.2 g/t Au. Eighty six percent of the oxide gold resource (127,825 oz @ 1.38 g/t) is indicated, the remainder being inferred (19,989 oz @ 0.67 g/t). Drilling results show that partial to complete oxidation persists down to a vertical interval of more than 100 metres, dependent on the degree of pervasive fracturing present within the silica zones. The mineralization in the Ortaçam Zone is largely confined to steeply inclined breccia zones, with outcropping silica representing more extensive upper parts of breccia zones that taper at depth (Fig. 3). 

The Ortaçam Zone, measuring approximately 200 m x 300 m, is the first of a number of discrete, possibly linked, silica zones in the Öksüt prospect that Stratex has investigated. Mapping and soil sampling over the full prospective area (4,000 m x 4,000 m) during 2008 highlighted five new prospective target zones (Fig.2) with extensive alteration and anomalous gold, which are scheduled to be explored through the JV agreement with Centerra. Three of these are outcropping zones (Ortaçam North, Büyükmese, Kızılağıl, Küçükmese) have been delineated for further exploration and possible drilling. A fourth area (Devetaşi West) has been defined by anomalous concentrations of Au (to 0.29 g/t), copper, molybdenum, and bismuth in soil samples, and may be indicative of a concealed porphyry system.

  

In addition, a significant coincident Induced Polarisation ('IP') (high chargeability) and magnetic anomaly has been defined 400 metres south-west and down-dip of the Ortaçam Zone. The geophysical characteristics of this are such that it constitutes a high-priority drill target for possible high-sulphidation or porphyry-style mineralization.

Figure 2. Potential drill targets identified by rock-chip sampling at Öksüt.

Under the terms of a joint venture agreement with Centerra, Centerra is currently funding exploration at Öksüt and has already spent its initial minimum commitment of US$ 500,000. Twenty one diamond drill holes (ODD-17 to ODD-21) totalling 1156.10 metres have now been completed at the Ortaçam Zone to further investigate the controls on mineralization. Results for intersections of oxide gold are summarized below in Table 1.

Table 1.  Drilling results from the Ortaçam Zone. All intersections are within the oxide zone with cut-off grade at 0.2 g/t Au unless otherwise stated.

Hole	Dip	From (m)	To (m)	Length (m)	Au (g/t)
ODD-1	-075°	No significant intersection
ODD-2	-075°	0.80	20.10	19.30	2.96
ODD-3	-075°	14.75	77.20	62.45	2.16
ODD-4	-075°	71.80	145.10	73.30	1.36
ODD-5	-075°	No significant intersection
ODD-6	-045°	0.00	171.70	171.70	0.51
ODD-7	-045°	7.30	113.00	105.70	0.59
ODD-8	-045°	0.00	270.20	270.20	1.22
including		0.00	45.50	45.50	1.58
including		77.00	117.70	40.70	2.77
including		224.60	262.80	38.20	2.94
including		226.40	234.50	8.10	10.23
ODD-9	-045°	No significant intersection
ODD-10	-045°	Discontinuous intersections >0.2 g/t
ODD-11	-045°	0.00	15.70	15.70	1.82
and		111.00	204.40	93.40	0.37
ODD-12	-045°	0.00	93.60	93.60	5.61
and		169.70	196.50	26.80	1.05
ODD-13	-045°	No significant intersection
ODD-14	-045°	0.00	93.80	93.80	0.26
including		20.00	35.50	15.50	0.75
ODD-15	-045°	0.00	138.00	138.00	0.26
and		173.50	213.50	39.60	0.31
ODD-16	-060°	4.75	47.10	42.35	2.03
including		10.10	27.50	17.40	3.00
ODD-17	-045°	41.50	92.50	51.00	1.74
including		47.50	71.50	24.00	3.02 (high-grade zone)
ODD-18A	-050°	0.00	30.30	30.30	1.61
ODD-19	-045°	0.00	34.65	34.65	2.26
including		6.70	27.90	21.20	3.48 (>0.4 g/t)
ODD-20	-045°	0.00	80.30	80.30	2.22
including		25.10	37.10	12.00	6.49 (high-grade zone)
ODD-21	-045°	No significant intersection

 

Figure 3. Cross-section of drill hole ODD-08 at the Ortaçam Zone.