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Stock Market Wire: Stratex revises Egypt resource estimate

Stratex said the Inferred Mineral Resources of 5.9 million tonnes, at a grade of 1.11 g/t for a total of 209,000 ounces, remained unchanged.
14.12.17 | Interesting article at Stock Market Wire

Stratex International has provided a revised resource estimate for the Anbat gold project in Egypt.

The revision came after the original estimate was retracted on the grounds the report had been intended for internal consumption only and did not contain all necessary disclosures.

The material change made to the report was: "Inferred Mineral Resources were reported for blocks above 0.5 g/t Au and within a conceptual pit optimisation scenario based on a gold price of $1,500/oz to underpin the JORC requirement of reasonable chances of eventual extraction."

Stratex said the Inferred Mineral Resources of 5.9 million tonnes, at a grade of 1.11 g/t for a total of 209,000 ounces, remained unchanged.