Sunday, August 14, 2011
Wednesday, August 10, 2011
Gold miner Stratex International (STI) saw shares jump on Wednesday after it announced "significant results" from drilling at its Megenta hot spring gold discovery in Ethiopia.
The AIM-listed firm added it had found new high grade samples at the nearby Akehil gold prospect, which is also part of the its Tendaho exclusive exploration licence in the Afar region of the country.
The company, along with its funding partner Thani Ashanti, said the latest drilling data confirmed bonanza grades are present in epithermal veins in the region and in response its shares shot 12% higher.
Stratex said it had seen "highly encouraging" results from hole MG-DD-10, with broad near-surface zone of 43.55 metres grading at 0.67 grams per tonne (g/t) of gold.
Highlights included high grade gold of 8.27 g/t over 0.3 metres and 3.56 g/t over 2.9 metres.
For in-depth analysis and ways to gain exposure to the Dark Continent, read our Focus on Mining.
The company, which has 13 holes drilled over the area, said the newly drilled zone correlated with the wide zone of 33.3 metres graded at 0.54 g/t of gold in hole MG-DD-09.
In addition, the two grab samples it took from the Akehil prospect, just under 10 kilometres away from the Megenta discovery, returned 16.0 g/t of gold at 57.3 metres.
David J Hall, Stratex's executive director of East Africa, said: "This new discovery continues to yield significant results and together with previous results they show that Megenta is a large and exciting new gold system. This is an increasingly promising new play at a time when the gold price is increasing and projects of this calibre and scale are hard to come by, a situation underlined by AngloGold Ashanti's (AGD) recent placement to take a 12.4% stake in Stratex."
The latest results, along with the evidence from the Blackrock discovery 250 kilometres to the north of Meganta, underpin the prospective nature of the area, according to Stratex.
Analysts at Collins Stewart said in a note: "Megenta is the first epithermal gold property to be drilled in the Afar region of Ethiopia. This is early days, however Afar is shaping up like a potentially exciting new epithermal gold province.
"While still very early stage the company is building an extensive portfolio of interesting projects in Ethiopia and Djibouti, which are likely to surpass the more advanced projects in Turkey. Stratex has a strong technical team and is one of our favoured junior explorer plays on the London market."
Tuesday, August 9, 2011
youtube.com25 mn - 11 juil. 2011 - Ajouté par AlJazeeraEnglish The Horn of Africa is in the middle of its worst drought in more than 60 years with up to 12 million people facing famine in parts ...
bbc.co.uk2 mn - il y a 5 jours More than 11 million people have been affected by the worst drought in 60 years in the Horn of Africa. The UN's Food Security ...
youtube.com6 mn - 20 juil. 2011 - Ajouté par OxfamPress
c-spanvideo.org109 mn - il y a 6 jours Witnesses testified about the food and humanitarian crisis in the Horn of Africa. They focused on the impact of a severe drought in ...
cbsnews.com2 mn - 10 juil. 2011 Tony Guida takes a look at the humanitarian crisis in the Horn of Africa, where people are facing the worst drought in 60 years ...
youtube.com2 mn - 13 juil. 2011 - Ajouté par WorldVisionCanada Severe drought is making life very difficult in the Horn of Africa. See what life is like there now, and how you can partner with ...
bbc.co.uk2 mn - 19 juil. 2011 A famine will be officially declared in parts of Somalia on Wednesday, following reports regarding the situation in the Horn of ...
dailymotion.com2 mn - 26 juil. 2011 The dire situation in the Horn of Africa has many asking -- why is this happening again?
france24.com11 mn - 25 juil. 2011 Drought, poverty and conflict combine to cause famine in Somalia. Also, people voice their opinion on the Dominique Strauss ...
msnbc.msn.com21 juil. 2011 More than 11 million people in Somalia and parts of Kenya and Ethiopia require food assistance due to the drought, the United ...
Monday, August 8, 2011
About the Bloger
Prof Muse Tegegne
- Prof. Muse Tegegne has lectured sociology Change & Liberation in Europe, Africa and Americas. He has obtained Doctorat es Science from the University of Geneva. A PhD in Developmental Studies & ND in Natural Therapies. He wrote on the problematic of the Horn of Africa extensively. He Speaks Amharic, Tigergna, Hebrew, English, French. He has a good comprehension of Arabic, Spanish and Italian.