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Stratum Metals Expanding East Menzie Goldfield Project With Licence Acquisitions

Stratum Metals (ASX: SXT) is expanding its East Menzie Goldfield Project in Western Australia with the acquisition of three existing prospecting licences for $110,000.

In addition, joint venture company Menzies Goldfields Ltd has also pegged a new prospecting licence.

Tenements P29/2174, P29/2220 and P29/2221 as well as application P29/2337 are bordered by existing project tenements and will provide the joint venture access to an additional 540 hectares of highly prospective ground.

Stratum has a 60% interest in the East Menzie Goldfield Project while investment company Mountain Gold International owns the remaining 40%.

The company had in June identified what it believes to be a very large massive sulphide conductor at the project from the final processed data from the HeliTEM survey flown in March, results from initial drilling, downhole electromagnetic work as well as complying the historic information.

This conductor- located close to the Goodenough Mine - is considered to be a highly prospective drilling target with managing director Martin Holland describing it as being "as strong as it gets".

Drill results during the June quarter also show high grade gold with a peak result of 121 grams per tonne gold and extension of mineralisation beyond the Aunty Nellie Pit.

Drilling at the "bridge zone" north of the Auntie Nellie Pit also intersected mineralisation suitable for open pit mining.

Importantly this demonstrated the potential to expand the Aunty Nellie Pit to include the previously drilled near surface gold mineralisation at the CSR Prospect about 150 metres north.

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