Proactiveinvestors Australia

Stratum Metals gains new substantial shareholders

Wed, 08 May 2013 15:00:00 +1000

Stratum Metals (ASX: SXT) has added Resource Assets Pty Ltd and associate company Willie Grocer Pty Ltd to its register as substantial shareholders with a combined 9.71% interest.

The two companies collectively hold around 6.2 million shares, which they acquired between 31 January 2013 and 3 May 2013.

Resource Assets is one of the consortia that Stratum recently entered into an agreement with to consolidate 54 tenements, including two mining licences, in the East Menzies Goldfield of Western Australia.

Willie Grocer holds a greater than 20% voting power in Resource Assets and holds 153,134 shares in Stratum Metals.

Most recently Stratum has intercepted 75 metres of sulphides close to surface in the first hole drilled to test three electromagnetic conductors at its East Menzies Goldfields Project.

This closely followed a discovery of gold grades up to 9.59 grams per tonne (g/t) in shaft spoil samples taken from the project.

Over 100 old shafts/workings are registered by the Western Australian Department of Mines and Petroleum on the East Menzies project area. These old shafts extend over 11 kilometres of strike and historically produced over 30,000 ounces of gold.

Stratum Metals had around A$1.6 million in cash at the end of the March 2013 quarter.

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Stratum Metals' first hole intercepts thick sulphides at East Menzies

Fri, 19 Apr 2013 10:40:00 +1000

Stratum Metals (ASX: SXT) has intercepted 75 metres of sulphides close to surface in the first hole drilled to test three electromagnetic conductors at its East Menzies Goldfields Project in Western Australia.

This is a very encouraging start and assay results and downhole EM data will be keenly awaited as it searches for the source.

The thick sulphide zone was encountered from 41 metres down hole and included 21 metres of stringer and disseminated sulphides and a further 54 metres of finely disseminated sulphides.

Importantly, given the results now received from geological logging it appears the conductor modelled from the Moving Loop TEM data has been intersected, which will be confirmed by a down hole EM survey to be completed in the coming week.

The reverse circulation hole targeting mining licence conductor GV-C3 was drilled to a depth of 120 metres and was completed yesterday.

The stringer and disseminated sulphides were at concentrations ranging from 5% to 20% based on visual estimation.

Following this zone are persistent disseminated fine sulphides at concentrations of about 1% from 66 metres to the end of the hole.

Previous interpretation by Southern Geoscience Consultants interpreted the GV-C3 conductor as a strong TEM anomaly with a 490 metre strike length that is relatively shallow with a moderate to shallow dip to the west.

The conductor is open and only partially defined due to the previously limited initial survey coverage.

The recent Fugro HELITEM program has now been successfully completed with results and interpretation pending to assess for extensions to the existing conductors and for future conductors within Stratum’s East Menzies Goldfields Project area.

Drilling continues

The drill rig has now started the hole targeting conductor GV-C2 and from there will move to test conductor GV-C1.

Upon completion of these three holes, samples will be dispatched to the laboratory for analysis.

The results of this laboratory analysis will allow Stratum to determine the potential economic significance of the intersection of sulphides in the first drill hole and any potential intersections from the remaining holes.

The HELITEM final data combined with assays and down hole electromagnetics will give Stratum significant information to zone in on the source.

High grade gold

Earlier this week, Stratum revealed it had discovered gold grades of up to 9.59 grams per tonne (g/t) in shaft spoil samples taken from the East Menzies Goldfields Project.

Over 100 old shafts/workings are registered by the Western Australian Department of Mines and Petroleum on the East Menzies project area. These old shafts extend over 11 kilometres of strike and historically produced over 30,000 ounces of gold.

Surrounding the area of initial spoil sampling a large number of shafts are scattered across an area of 2.5 kilometres by 2.5 kilometres.

Historic mining in this area produced at grades from 14.8g/t (Maranoa) to 53.6g/t (Sunday Gift).

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Stratum Metals uncovers high grade gold in sampling at East Menzies

Wed, 17 Apr 2013 09:50:00 +1000

It is early days for Stratum Metals at the East Menzies Goldfields Project, but initial exploration is already turning up some high grade gold from assay results. Spoil shaft sampling has so far covered only 17 of over 100 historic mines at the project.

Stratum Metals commences highly anticipated drilling at East Menzies

Tue, 16 Apr 2013 13:10:00 +1000

Stratum Metals (ASX: SXT) has started drilling of three strong electromagnetic conductors at East Menzies Goldfields Project in Western Australia.

Each target will initially be tested with a single hole followed by a downhole electromagnetic survey. This is expected to be completed within two weeks.

The target at C1 is expected at around 160 metres down hole, the C2 target is expected at about 190 metres down hole, and the C3 target is expected at about 80 metres down hole.

Drilling will also be completed off the northern end of the Auntie Nellie Pit where historic data indicates broader spaced exploration drilling Intersected near surface gold mineralisation.

Historic intercepts included 12 metres at 1.38 grams per tonne (g/t) gold from 7 metres, 10 metres at 1.34g/t gold from 27 metres, 5 metres at 1.71g/t gold from 28 metres, 2 metres at 2.59g/t from 18 metres, and 10 metres at 1.13g/t from 24 metres.

Stratum has an initial program of 12 holes for 1,400 metres to drill and has secured approvals for up to 143 holes.

It added that ongoing progress with its technical work had increased its confidence in the opportunity to define significant mineralisation, both gold and massive sulphide at East Menzies.

East Menzies has proven to be a near surface gold rich province which has never been explored at depth and Stratum plans to take a systematic approach to unlocking mineralisation for the first time.

Stratum Metals given green light for drilling at East Menzies

Wed, 27 Mar 2013 17:40:00 +1100

Stratum Metals (ASX: SXT) has locked in approval to drill up to 143 reverse circulation holes on its East Menzies Goldfields Project in Western Australia.

The company has chosen a drilling contractor to complete an initial 1,200 to 1,500 metres of reverse circulation drilling starting on 15 April 2013.

East Menzies has proven to be a near surface gold rich province which has never been explored at depth and Stratum plans to take a systematic approach to unlocking mineralisation for the first time.

The approved Plan of Work covers the drilling of three massive sulphide targets in the form of three strong electromagnetic conductors, as well as the “bridge zone” between the Auntie Nellie and Granny Venn pits, including the CSR Prospect.

The electromagnetic conductors were generated from a ground MLTEM survey.

The target at C1 is expected at around 160 metres down hole, the C2 target is expected at about 190 metres down hole, and the C3 target is expected at about 80 metres down hole.

Drilling will be followed by down hole electromagnetic surveys.

Stratum has received a number of strong indications why these conductors warrant exploration and is keen to progress drilling.

The Plan of Work was put together to allow a staged approach to exploring the “bridge zone” and progressing, if results warrant, to drilling at a density suitable for resource estimation without any delays associated with submitting future Program of Works applications.

Drilling will also be completed off the northern end of the Auntie Nellie Pit where historic data indicates broader spaced exploration drilling intersected near surface gold mineralisation.

Historic intercepts included 12 metres at 1.38 grams per tonne (g/t) gold from 7 metres, 10 metres at 1.34g/t gold from 27 metres, 5 metres at 1.71g/t gold from 28 metres, 2 metres at 2.59g/t from 18 metres, and 10 metres at 1.13g/t from 24 metres.

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Stratum Metals director acquires shares on market

Tue, 26 Mar 2013 15:50:00 +1100

Stratum Metals (ASX: SXT) non-executive director Michael Addison has acquired 32,000 shares in the company on the market.

The shares are worth a total of $9,280, for an average price of $0.29 each.

This brings his total shareholding up to 332,000 shares held both directly and indirectly.

Stratum had earlier today uncovered grades of up to 1.14% nickel in a recent field sampling program on an area of gossan previously sampled at its East Menzies Goldfields Project in Western Australia.

It will also start an airborne electromagnetic survey over its East Menzies tenements this week to assess the potential for further massive sulphide style targets.

Stratum Metals delivers nickel sample results for East Menzies

Tue, 26 Mar 2013 12:40:00 +1100

Stratum Metals (ASX: SXT) has uncovered grades of up to 1.14% nickel in a recent field sampling program on an area of gossan previously sampled at its East Menzies Goldfields Project in Western Australia.

Nickel grades of between 0.06% and 1.14% were returned for 13 samples collected to the south of the previously sampled area that returned grades of 1.47% nickel.

Field investigations identified an area of scattered gossanous sub-crops extending over 410 metres.

This area represents one of three identified sulphide prospects identified on the East Menzies Goldfields Project tenements.

With the aerial electromagnetic survey underway and drilling currently planned for previously identified electromagnetic conductors, Stratum will focus on compiling these initial results and progressing its exploration of massive sulphide targets.

Potential supergene enrichment

Last month the company discovered nickel and copper sulphide minerals that indicate the potential for supergene sulphide enrichment at the East Menzies Goldfield Project.

An ongoing review and compilation of past exploration revealed petrographic studies identifying violarite and covellite, which are often associated with supergene enrichment of sulphide ores.

Supergene sulphide violarite, nickel-cobalt sulphide, gossan sampling returned grades of 1.47% nickel and 0.12% cobalt and up to 2,511 parts per million nickel samples, along with elevated silver, arsenic, copper, lead and zinc.

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Stratum Metals to complete airborne electromagnetic survey over East Menzies

Mon, 25 Mar 2013 12:20:00 +1100

Stratum Metals (ASX: SXT) will soon complete an airborne electromagnetic survey of its entire tenement holding east of Menzies with the arrival of geophysical survey contractor Fugro on site.

Fugro will be using their unique HELITEM® technology, to compile a dataset enabling the company to assess the potential for further massive sulphide style targets within the tenement package.

Based on Fugro’s current schedule final data is expected to be delivered at the end of April, with the company’s consulting geophysicist to then undertake data interpretation and modelling, which is expected to be completed later in May.

HELITEM®

Fugro’s HELITEM® system is the world’s most powerful helicopter time-domain electromagnetic system.

This power, coupled with the unique low noise receiver, ensures the greatest depth of exploration possible for any airborne EM system, which is especially important when exploring in areas with conductive regolith or palaeochannels.

HELITEM® is the only commercially available system routinely providing X, Y and Z receiver coil measurements for both the dB/dt and B-Field.

Systems only offering Z-axis suffer from ambiguity of interpretation results for conductors. The X and Y axes data provided by HELITEM® allow for more complete and definitive interpretation of conductors and allow for the discrimination of conductors by orientation.

The high quality B-Field data de-emphasize the conductive overburden response while enhancing the response of strong bedrock conductors.

East Menzies

Recently Stratum discovered nickel and copper sulphide minerals that indicate the potential for supergene sulphide enrichment at the historic East Menzies Goldfield projects.

This followed an ongoing review and compilation of past exploration has revealed petrographic studies identifying violarite and covellite, which are often associated with supergene enrichment of sulphide ores.

The violarite and covellite bearing samples in the studies are from the Goodenough Gold Deposit, within close proximity to already identified large electromagnetic conductors, including the 490 metre long Conductor 3.

Conductor 3 lies within the same geological environment as the source of the petrographic samples.

Supergene sulphide violarite, nickel-cobalt sulphide, gossan sampling returned grades of 1.47% nickel and 0.12% cobalt and up to 2,511 parts per million nickel samples, along with elevated silver, arsenic, copper, lead and zinc.

Stratum Metals' substantial shareholder increases stake

Thu, 14 Mar 2013 09:40:00 +1100

Stratum Metals' (ASX: SXT) substantial shareholder John Maitland has increased his stake in the company, and now holds a 8.69% stake - up from 5.15%.

The increase was part of a recent placement by the company, with Maitland buying another 2 million ordinary shares at $0.25 for a cost of $500,000.

In total Stratum raised $2 million via the placement of 8 million shares at $0.25.

Worth noting Stratum last changed hands at $0.36, which is a 44% increase over the placement price.

Recently Stratum discovered nickel and copper sulphide minerals that indicate the potential for supergene sulphide enrichment at the historic East Menzies Goldfield projects.

Stratum Metals' shares continue to soar, receives "speeding ticket"

Mon, 11 Mar 2013 08:30:00 +1100

Stratum Metals (ASX: SXT) received an ASX price and volume 'speeding ticket' late Friday due to the company's shares hitting an intra-day high of $0.345, which is around one third higher than the $0.26 closing price on Wednesday 6th March 2013.

Stratum replied to the ASX saying that it is not aware of any information that has not been released to the market which could explain the sudden investor interest.

Worth noting Stratum's shares are around double the value they were in mid-January 2013, and three times what they were trading at about six months ago.

Recently Stratum discovered nickel and copper sulphide minerals that indicate the potential for supergene sulphide enrichment at the historic East Menzies Goldfield projects.

Stratum also recently raised $2 million by issuing 8 million shares at $0.25 to investors via a placement.

Stratum Metals appoints Terry Grammer to the board

Thu, 28 Feb 2013 10:50:00 +1100

Stratum Metals (ASX: SXT) has appointedwell-credentialed Terry Grammer to the board as a Non‐Executive Director, with Grammer bringing significant experience in the resource sector to the company.

Grammer is currently the Non-Executive director for Sirius Resources (ASX: SIR) and Chairman for South Boulder Mines (ASX: STB).

Grammer is one of Australia’s most successful prospecting geologists, with a career spanning more than 35 years in Australia, Africa, Asia and New Zealand.

Accolades for Grammer include being the joint winner of the AMEC Prospector of the Year Award in 2000 for his role in the discovery of the highly profitable Cosmos nickel deposit in 1997 – which subsequently underpinned the development of Jubilee Mines NL as a leading mid‐tier Australian mining company prior to its takeover by Xstrata.

Stratum will now advance the Menzies project underpinned by strategic international investment, recently completed capital raising on ground technical team and strong board representation.

Recent $2 million raising

Earlier in the month Stratum raised $2,000,000 by issuing 8,000,000 shares at $0.25 each to investors via a placement.

Stratum Metals appoints John Shepherd to Menzies Goldfield Limited Board

Wed, 20 Feb 2013 12:00:00 +1100

Stratum Metals (ASX: SXT) has appointed John Shepherd to the Board of Menzies Goldfield Limited, the company’s 60% owned subsidiary in partnership with Mountain Gold International.

Mountain Gold International, which holds the remaining 40% interest in Menzies Goldfield, previously became a strategic international investor in Stratum to assist in funding the recent East Menzies Goldfield acquisitions.

Shepherd has had a long, successful career as an investment banker and management consultant, specialising in corporate strategy, corporate recovery, corporate finance and investment analysis for private and public companies.

He has been involved with a number of mining, exploration and mining related companies all around the world.

These include Cordillera Gold (2010-2011), Shoreline Minerals (2008-2010), The MAC Services Group of Companies (2003-2004), First AU Strategies Corporation (TSXV 2001-2003) and Diversified Mineral Resources (1995-1999).

Stratum has hit the ground running at the historic East Menzies Goldfield projects and is wasting no time in proving up the potential of these assets.

Most recently the company discovered nickel and copper sulphide minerals that indicate the potential for supergene sulphide enrichment.

An ongoing review and compilation of past exploration has revealed petrographic studies identifying violarite and covellite, which are often associated with supergene enrichment of sulphide ores.

The violarite and covellite bearing samples in the studies are from the Goodenough Gold Deposit, within close proximity to already identified large electromagnetic conductors, including the 490 metre long Conductor 3.

Supergene sulphide violarite, nickel-cobalt sulphide, gossan sampling returned grades of 1.47% nickel and 0.12% cobalt and up to 2,511 parts per million nickel samples, along with elevated silver, arsenic, copper, lead and zinc.

Stratum plans to undertake a drilling program to target three moving loop transient electromagnetic MLTEM conductors.

The conductors have never been drill tested.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Stratum Metals identifies potential for supergene massive sulphides at East Menzies

Wed, 13 Feb 2013 12:30:00 +1100

Stratum Metals (ASX: SXT) has discovered nickel and copper sulphide minerals that indicate the potential for supergene sulphide enrichment at the historic East Menzies Goldfield projects.

An ongoing review and compilation of past exploration has revealed petrographic studies identifying violarite and covellite, which are often associated with supergene enrichment of sulphide ores.

The violarite and covellite bearing samples in the studies are from the Goodenough Gold Deposit, within close proximity to already identified large electromagnetic conductors, including the 490 metre long Conductor 3.

Conductor 3 lies within the same geological environment as the source of the petrographic samples.

Supergene sulphide violarite, nickel-cobalt sulphide, gossan sampling returned grades of 1.47% nickel and 0.12% cobalt and up to 2,511 parts per million nickel samples, along with elevated silver, arsenic, copper, lead and zinc.

Significance of supergene enrichment

Supergene sulphide enrichment is the natural upgrading of buried sulphide deposits by the secondary deposition of metals dissolved in waters percolating through the rock – generally from surface down.

The enriched ore forms the supergene zone above the primary, or hypogene, zone and in some cases can hold as much as 10 times the original metal content.

The supergene phenomenon makes rich ores even richer, lean ores are made more valuable and some ores otherwise too lean to be economic are upgraded enough to be workable.

Potential for supergene enrichment at Goodenough

If the presence of violarite and covellite within the samples from Goodenough is indicative of supergene oxidation there may be an enrichment zone (sulphide ore target).

The mineralogy and recent sampling completed by Stratum shows the required metals to be present, the geology of the Goodenough area is amphibolite schist (after mafic volcanics), a quartz/chert band and felsite rocks which should be suitable hosts.

Locally, the water table is understood to be deep suggesting any supergene enrichment zone would be expected to occur at depth.

Finally, the mineralisation at Goodenough is open at depth and along strike, and the potential exists for base metal sulphide deposit down dip of the deposit’s Resource.

Exploration plan

Stratum plans to undertake a drilling program to target three moving loop transient electromagnetic MLTEM conductors.

A program of work to allow drill testing of Conductor 3 is under assessment by the Department of Mines and Petroleum.

The conductors have never been drill tested.

Stratum plans to begin drilling followed by a down hole electromagnetic survey as soon as possible.

Additionally, the company’s consulting geophysicist is currently assessing the options for a project wide electromagnetic survey.

Analysis

Although early days, this is an encouraging start to 2013 fieldwork at East Menzies. That the conductors have never been drill tested ensures interest and drilling will be keenly watched.

Stratum Metals raises $2M for East Menzies Goldfield projects

Wed, 13 Feb 2013 10:00:00 +1100

Stratum Metals (ASX: SXT) has raised $2,000,000 by issuing 8,000,000 shares at $0.25 each to investors via a placement.

This is the first capital raise since the company listed on the ASX on the 11th October 2011.

Stratum is now funded to explore the newly acquired historic East Menzies Goldfield projects in partnership with Mountain Gold International Limited.

Mountain Gold International Limited will contribute 40% of all ongoing exploration and working capital for the Menzies Project.

Stratum Metals pinpoints nickel prospects over 10km at East Menzies

Tue, 05 Feb 2013 11:30:00 +1100

Stratum Metals (ASX: SXT) has identified nickel prospects that extend over a 10 kilometre zone through a review and compilation of past work carried out on the recently acquired East Menzies Goldfield tenements.

A 2011 soil program at the Merrey Well Prospect plus 2004-2005 drilling at the Cepline Prospect significantly extends the nickel potential of Stratum’s consolidated tenement holding.

Martin Holland, managing director, commented: "The consolidation of this historic portfolio was based on the opportunity to combine the significant amount of work completed by many past tenement holders; work with promising results was often limited by extent of tenure.

“The project has a large number of past gold workings and it is now clearly prospective for massive sulphide ores in an area extending over 10 kilometres.

“Our experienced team can move forward with the confidence our tenement holding provides a scale that will not limit the benefits of successful exploration.”

Anomalous nickel soil geochemical results from Merrey Well indicate up to 2,511 parts per million nickel along with elevated silver, arsenic, copper, lead and zinc.

Meanwhile, historic reverse circulation drilling at Cepline intercepted significant near surface nickel, with nickel-cobalt sulphide minerals recovered.

Drilling showed intercept lengths between 4 and 12 metres grading between 0.9% and 1.72% nickel.

Mineralogical work shows most of these intercepts to be lateritic, however, and significantly, nickel sulphide minerals in the form of nickel-cobalt bearing Siegenite/Vaesite were noted from 37 metres depth in one hole.

The Merrey Well soil samples extend west of an area of gossans mapped and sampled in the late 1960s.

Stratum recently located and sampled one of these gossans and submitted four samples to SGS Laboratory for analysis.

Results returned grades of 1.47% nickel and 0.12% cobalt.

The geochemistry from both soils and recent gossan sampling along with the MLTEM conductors provide support for developing massive sulphide drilling targets across the project.

Stratum is now planning to undertake further soil sampling and electromagnetic surveys over the project area.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Stratum Metals reaches settlement on acquisition of East Menzies tenements

Thu, 31 Jan 2013 17:30:00 +1100

Stratum Metals (ASX: SXT) has reached settlement with Resource Assets for the acquisition of the package of tenements at East Menzies in Western Australia from 11 different vendors with $1.34 million in cash paid.

A further 4,971,060 shares remain to be issued subject to Stratum shareholder approval.

The acquisition of the tenements by Stratum’s 60% subsidiary Menzies Gold, which is supported by Mountain Gold International, consolidates the “jigsaw” of leases across 86 square kilometres of the historic East Menzies Goldfield.

Due diligence has supported Stratum’s continued path of consolidating the East Menzies Goldfield.

Initial expectations surrounding the Good Enough Gold Resource and potential production appears optimistic with an independent optimisation study completed by Orelogy showing that a proportion of the existing resource can be extracted at a cash cost of $1,112 per ounce based on contract mining and utilising a nearby gold mill.

Stratum and Mountain Gold will work together to explore the tenements and secure cash flow from near term production from existing resources.

Stratum Metals increases nickel prospectivity of East Menzies

Thu, 31 Jan 2013 11:50:00 +1100

Stratum Metals (ASX: SXT) has identified several large scale nickel prospects on part of its East Menzies Goldfield project in Western Australia following a review of historical geochemical sampling data.

This follows on the company discovering three separate large electromagnetic anomalies ranging in size from 200 metres to 490 metres that show potential for nickel sulphide mineralisation from a first pass time domain electromagnetic survey.

The historical data shows anomalous nickel soil geochemical results of up to 1199ppm nickel located over parts of the seven prospecting licences that were recently awarded to the company.

These compare with the peak result of 337ppm associated with Sirius Resources’ (ASX: SIR) Nova discovery.

Gold anomalism is also noted within the same data set.

“I am very excited to have identified these further targets. The fact the highest grade result is significantly higher than the soil anomaly associated with the Sirius Nova deposit is very encouraging and we plan to fast track exploration in the area,” managing director Martin Holland.

Importantly for Stratum, which was initially attracted to the East Menzies Goldfield project by the significant gold potential, the results confirm the potential of the tenements to host nickel sulphide deposits.

The nickel soil anomalies are open in various directions and are only partially defined due to the limited soil sampling program that was undertaken. Review of past exploration reports is ongoing but has not identified any follow up work such as drill testing of these anomalies.

Stratum is continuing to compile and review information associated with past exploration while also considering the best approach to furthering exploration in this prospective area.

Short term work programs are expected to include additional soil sampling and EM survey programs.

The company is consolidating leases held by 11 different entities across 86 square kilometres in the goldfields

Capital raising

Stratum has reached a term sheet with Stellar Securities for a placement to raise up to A$2 million to fund exploration on the Menzies Project.

The company is offering sophisticated investor clients of Stellar up to 8 million shares priced at $0.25 each.

Stratum Metals to raise capital

Tue, 29 Jan 2013 10:40:00 +1100

Stratum Metals (ASX: SXT) is preparing to announce to the market capital raising details, with the ASX this morning granting the company a trading halt, and placing its shares in pre-open.

Stratum recently pinpointed three separate large electromagnetic anomalies that show potential for nickel sulphide mineralisation at its Menzies Goldfields project.

The company is consolidating leases held by 11 different entities across 86 square kilometres in the goldfields.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 31st January 2013.

Stratum Metals identifies nickel sulphide potential at East Menzies Goldfield

Fri, 25 Jan 2013 14:00:00 +1100

Stratum Metals (ASX: SXT) has pinpointed three separate large electromagnetic anomalies that show potential for nickel sulphide mineralisation at its Menzies Goldfields project.

The company discovered the anomalies, which range in size from 200 to 490 metres in strike length, in a first pass time domain electromagnetic survey.

These anomalies have the characteristics of genuine bedrock conductors that indicate the potential for massive sulphide mineralisation.

They remain open and only partially defined due to the limited initial survey coverage which provides further extension potential to the anomalies.

Martin Holland, managing director, commented: “This is an exciting discovery for Stratum on the East Menzies Goldfields project.

“There has been no modern systematic exploration for nickel sulphides in the project area, so this offers us serious short term potential in addition to our substantial gold opportunity on the project.

“The EM work has shown potential for a large system and the conductors are all open giving further opportunity for extension. We are looking forward to testing the conductors targeting for nickel sulphide mineralisation.”

Sampling at the project in drill spoils on the Jenny Venn gold prospect in the past has assayed up to 0.5% nickel and with highly anomalous chromium (0.3%-0.46%). These assays were taken in the vicinity of one major conductor.

Work undertaken by CRA in 1969 also discovered a gossan south of the identified conductors called the “E” prospect with rock chip assays up to 1.43% nickel and anomalous copper and zinc.

Only two follow up drill holes were completed on the prospect and both intersected mineralisation.

Notable intersections of 3 metres at 1.49% nickel from 16.7 metres and 4.5 metres at 0.77% nickel in dispersed sulphides from 51 metres were reported from this drilling.

Both drill intersections also showed anomalous copper and zinc associated with the nickel mineralisation.

East Menzies Goldfield acquisition

Stratum completed due diligence over the project in December which supports the company’s continued path of consolidating the East Menzies Goldfield and has highlighted the significant potential of the area to generate further gold resources.

By consolidating leases held by 11 different entities across 86 square kilometres and exploring it as one, Stratum could potentially identify a mini superpit within the East Menzies Goldfield.

Initial expectations surrounding the Good Enough Gold Resource and potential production appears optimistic.

An independent optimisation study completed by Orelogy shows a proportion of the existing resource can be extracted at a cash cost of $1,112 per ounce based on contract mining and utilising a nearby gold mill.

Stratum has also secured a new strategic international investor, Mountain Gold International, to assist in funding the East Menzies acquisitions.

An initial A$1.35 million investment has been made with an expectation that further funding will follow in 2013.

Stratum will own 60% of newly incorporated subsidiary, Menzies Goldfield Limited, while Mountain Gold International will hold a 40% shareholding.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Stratum Metals managing director Martin Holland grows shareholding

Wed, 02 Jan 2013 14:00:00 +1100

Stratum Metals (ASX: SXT) managing director Martin Holland has increased his stake in the company with the acquisition of 118,350 shares on market for $19,344.75.

This averages to about A$0.16 per share and increases his shareholding up to 3,538,467 shares.

Holland also holds 750,000 options exercisable at $0.25 on or before 7 June 2016 and 750,000 options exercisable at $0.35 on or before 7 June 2016.

Stratum had last week completed due diligence that supported its continued path of consolidating the East Menzies Goldfield.

This highlighted the significant potential of the area to generate further gold resources.

An independent optimisation study completed by Orelogy shows a proportion of the existing resource at Good Enough Gold can be extracted at a cash cost of $1,112 per ounce based on contract mining and utilising a nearby gold mill.

Stratum Metals progresses East Menzies Goldfield acquisition with strategic investor

Thu, 27 Dec 2012 12:45:00 +1100

Stratum has pieced together the jigsaw of leases held by 11 different entities across 86km2 of the historic East Menzies Goldfield in Western Australia. Stratum will move forward with the acquisition supported by a new strategic international investor.

Stratum Metals to provide details of capital raising and acquisition

Fri, 21 Dec 2012 14:10:00 +1100

Stratum Metals (ASX: SXT) will soon release news regarding a capital raising and an update on an acquisition, with the company granted a trading halt by the ASX today.

The company previously signed a Binding Heads of Agreement with two separate consortia bringing together 54 tenements, including 2 mining licences, in the East Menzies Goldfield of Western Australia under the one group.

Following initial due diligence work Stratum has lodged applications for a total of 14 prospecting licences and one exploration licence located east of the township of Menzies.

The applications cover an area of geology interpreted to include a greenstone package, granitoids and the Moriarty Shear Zone.

Some of this area has been the focus of past exploration, however with most of the area under Cenozoic aged cover it appears exploration has been limited.

In order to progress the Menzies consolidation and move to production Stratum previously indicated it would raise up to A$5 million through current shareholders, brokers and strategic investors (domestic & international).

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 27th December 2012.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Stratum Metals lodges licence applications for East Menzies goldfield

Fri, 23 Nov 2012 15:30:00 +1100

Stratum Metals (ASX: SXT) has lodged applications for a total of 14 prospecting licences and one exploration licence in the highly prospective East Menzies Goldfield of Western Australia.

The company made the decision to lodge the applications following initial due diligence work completed in relation to the potential East Menzies acquisition announced last week.

The applications cover an area of geology interpreted to include a greenstone package, granitoids and the Moriarty Shear Zone.

Some of this area has been the focus of past exploration, however with most of the area under Cenozoic aged cover it appears exploration has been limited.

The majority of past work appears to have focused on outcrop areas to the west.

The application area includes the strike projection of targets highlighted in past explorers work.

Goldfields Exploration identified prospects such as Gigante Grande from auger soil sampling and rotary air blast drilling.

Mineralisation has been shown to be associated with veining within the Gigante Granite, proximal to basalts that are interpreted based on magnetics to run in a generally north to south strip through the tenement application area.

‘Company making’ agreement

Last week Stratum signed a Binding Heads of Agreement with two separate consortia bringing together 54 tenements, including two mining licences, under the one group.

The significance of the deal is that Stratum can now combine all of the data and conduct an overall aerial survey – which has never been done before on this scale.

The combined area has the potential for near term production generating significant cash flow, which would transition the company to a self-funded explorer.

This includes a near surface 36,000 ounce resource which could be extracted and trucked to one of the nearby processing centres within trucking distance, following any potential ore agreements.

An initial review indicates significant potential to expand on known resources and follow up a large range of already identified geochemical gold anomalies.

Highlighting additional potential, a TEM geophysical survey was conducted on M29/189 in 2008 defining moderate to strong anomalies with characteristics indicating potential massive sulphide mineralisation.

The area contains the Granny Venn-Aunt Nellie open pit mines plus over 100 historic gold workings.

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Stratum Metals MD adds to shareholding

Wed, 21 Nov 2012 09:10:00 +1100

Stratum Metals (ASX: SXT) managing director Martin Holland has increased his shareholding in the company following on-market purchases.

Holland added another 109,000 shares for a total consideration of A$19,465, providing an average entry price of around $0.18 per share.

Stratum Metals recently executed a “company making” deal in the highly prospective East Menzies Goldfield on Western Australia – by consolidating 11 different entities.

The company has signed a Binding Heads of Agreements with two separate consortia bringing together 54 tenements, including 2 mining licences, under the one group.

The significance of the deal is that Stratum can now combine all of the data and conduct an overall aerial survey – which has never been done before on this scale.

The combined area has potential for near term production generating significant cash flow - which would transition the company to a self-funded explorer.

This includes a near surface 36,000 ounce resource which could be extracted and trucked to one of the nearby processing centres within trucking distance, following any potential ore agreements.

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Stratum Metals signs 'company making' agreement in the East Menzies Goldfield

Fri, 16 Nov 2012 13:50:00 +1100

Stratum will transition to a self-funded explorer by the way of near term production opportunities following a deal to consolidate 11 different entities in the highly prospective Historic East Menzies Goldfield in Western Australia. The ‘company making’ deal was orchestrated by Stratum's managing director Martin Holland.

Stratum Metals to release news of acquisition

Wed, 14 Nov 2012 14:20:00 +1100

Stratum Metals (ASX: SXT) has been granted a trading halt by the ASX today ahead of the release on an announcement regarding a substantial acquisition.

At the end of October the company said it was in advanced negotiations with a number of companies regarding an acquisition at a project level.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 16th November.

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Stratum Metals expands key Canning Basin coal tenements

Wed, 17 Oct 2012 15:19:00 +1100

Stratum Metals (ASX: SXT) is expanding the Canning Basin Coal Project in Western Australia with its application for a new coal tenement.

This takes to seven Stratum's Canning Basin coal tenements.

Tenement E04/2235 is located in the area of the Deep Well Anticline within the Fitzroy Trough in the north west part of the Canning Basin; where the most persistent and thicker coal seams have been reported from the Lightjack Formation at the base of the Permian Liveringa Group.

Significantly, it contains the Petaluma-1 petroleum well that had intersected 15 metres of coal bearing strata.

This was confirmed by later drilling undertaken by Rey Resources (ASX: REY).

Stratum’s upcoming exploration for the project is on identifying targets likely to allow definition of thermal coal suitable for open pit and/or slot mining followed by application of highwall mining techniques.

Known coal intersections occur in the lower parts of the Lightjack Formation which is expected to outcrop on or immediately N-NE of Stratum’s E04/1993 tenement boundary and dip back into the tenement. This area is the priority for an initial drilling program.

The Canning Basin Coal Project is located about 150 kilometres south west of Derby and less than 20 kilometres from Rey’s Duchess Paradise Project, which are situated within the same coal-bearing host rocks.

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Stratum Metals expanding Canning Basin thermal coal acreage

Mon, 17 Sep 2012 13:10:00 +1000

Stratum Metals (ASX: SXT) is expanding the landholding of its Canning Basin thermal coal project in Western Australia with the application for a new tenement that will extend the prospective strike by about 25 kilometres.

Tenement E04/2231 is located in the Fitzroy Trough in the northwest part of the Canning Basin where the most persistent and thicker coal seams have been reported from the Lightjack Formation at the base of the Permian Liveringa Group.

Government published geological mapping shows the new tenement application to contain a significant area of the contact between the Liveringa Group and underlying Noonkanbah Formation.

The application is part of Stratum’s strategy to secure 100 kilometres worth of coal prospective strike and will bring the number of tenements under the Canning Basin Coal Project up to six.

Stratium is currently in planning and discussions to schedule a site clearance survey in E04/1993 as required under the Heritage Protection Agreement with the Nyikina Mangala Group, prior to establishment of drill sites.

The survey is expected to take about three days to complete.

The company has also completed assessment of potential coal mining and processing operations in order to identify the targets on the company’s tenement holding that are most likely to become viable mining operations.

The most prospective areas in E04/1993 will be tested by the majority of the planned drilling program.

The Canning Basin Coal Project is located about 150 kilometres south west of Derby and less than 20 kilometres from Rey Resources’ (ASX: REY) Duchess Paradise Project, which are situated within the same coal-bearing host rocks.

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Stratum Metals works to prove up more high grade gold at Gidgee North

Fri, 29 Jun 2012 14:10:00 +1000

Stratum Metals (ASX: SXT) is set to begin its next drilling campaign at the German Well South Prospect, part of the wholly owned Gidgee North Gold Project, spurred on by past high grade drilling results and soil sampling demonstrating potential extension to the mineralisation to the north and south.

The company will begin an 11-hole, 1,750 metres reverse circulation drilling program this Sunday to extend the strike length of the mineralisation at the prospect.

This next exploration campaign will pave the way for delivery of a JORC Resource for the German Well South Prospect.

Demonstrating the broad, high grade nature of the prospect, previous first stage drilling has delivered bonanza grade intersections such as 1 metre at 60.9 grams per tonne (g/t) gold, within a broader intersection of 8 metres at 8.89g/t gold from 41 metres.

Recent past drilling includes highlights of:

- 21 at 5.25g/t gold from 117 metres, including 10 metres at 7.89g/t gold and 1 metre at 37.1g/t gold;
- 5 metres at 2.25g/t gold and 4 metres at 3.11g/t gold from 102 metres; and
- 12 metres at 1.51g/t gold from 46 metres, including 6 metres at 2.57g/t gold.

Further upside is the definition of a large area of gold anomalism through MMI soil sampling, with the anomaly having a potential strike extent of 2 kilometres, extending well beyond the focus of Stratum’s initial drilling at the German Well Prospect.

Next exploration steps

Further sampling is required to confirm continuation of the gold anomaly and enable definition of drilling targets north and south of the current German Well South Prospect.

A further seven holes will be drilled on two sections to the east to provide an indication of the value of the MMI interpretation and give Stratum drilling data covering over 350 metres of strike.

Compilation and interpretation of the available geophysical data is also underway to assist in guiding an expanded exploration program.

Results are expected in August and Stratum will then determine the location and extent of any further MMI soil sampling and begin planning the next stages of exploration.

Gidgee Gold Project

The Gidgee Gold Project, which comprises the Gidgee North and Gidgee South areas, is located 640 kilometres northeast of Perth in the Yilgarn region of Western Australia.

The Yilgarn has a long history of gold production and produces about 6% of Australia’s gold.

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Stratum Metals attracts attention as Chinese investment in Canning Basin coal hots up

Mon, 18 Jun 2012 13:10:00 +1000

Stratum Metals (ASX: SXT) has a strategic investment in a thermal coal project in the Canning Basin which is attracting the company quite a bit of attention from potential Chinese investors.

Major Chinese and Indian investment is migrating to the Canning Basin, which is evident in Rey Resources (ASX: REY) announcement today of a A$13.8 million share placement to the ASF Group (ASX: AFA), a vehicle for investment facilitation between China and Australia.

ASF holds an interest in exploration tenements adjoining Rey’s Duchess Paradise thermal coal project, which lies less than 20 kilometres from Stratum’s Canning Basin Coal Project.

Stratum is quite strategically placed surrounding Rey Resources and the ASF Group, and recent events demonstrate the level of activity happening in the Canning Basin, an emerging coal province.

Martin Holland, managing director of Stratum, told Proactive Investors today the company has been in several discussions with Chinese majors.

“We’ve had a number of Chinese companies approach us already and we’ve been in discussions with them.

“Though Stratum’s view is that we’ve got enough cash in the bank at the moment to prove up a resource, and we’re actually looking at going down that track to give value to our current shareholders before we look at bringing in some international players into our company.”

Stratum is only a couple of weeks away from securing final heritage approval of the project before it can begin its first exploration campaign.

The company anticipates final approval on 9 July ahead of a mid-August start for exploration.

Stratum has also lodged its plan of works with the Western Australian Government and expects approval in the next few weeks.

Canning Basin Coal Assets

Coal interests are held in an 80/20 Joint Venture with State Resources at the Canning Basin Coal Project, which is located about 150 kilometres southwest of Derby, in the Kimberley Region.

Stratum owns three exploration licences in the Canning Basin, the largest onshore sedimentary basin in Western Australia, and an emerging coal province.

The project area is less than 20 kilometres from Rey Resources' Duchess Paradise Project which hosts an Inferred Resource of 535 million tonnes of coal. Rey has fended off two takeover offers for the company, indicating the demand for coal from Asian interests.

The main coal bearing strata within the basin is known as the Lightjack formation, which is contained within the Fitzroy Graben that covers the northern end of the Canning Basin.

The Stratum Metals Joint Venture covers an area of 465 square kilometres within the Fitzroy Graben, and covers known outcrops of the Lightjack formation.

Previous exploration carried out in the 1980s by mining heavyweights BHP Billiton (ASX: BHP) and Rio Tinto (ASX: RIO) intersected coal in 52 of the 72 holes drilled.

Stratum will be the first company to drill on these tenements since BHP and Rio exited the area due to poor thermal coal prices and the want for higher value coking coal instead.

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