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Stratum Metals Samples Up To 274g/T Gold At East Menzies Goldfields Project

Stratum Metals (ASX: SXT) has discovered bonanza grade gold grades from the continuation of the shaft spoil sampling program at the East Menzies Goldfields Project in Western Australia.

Individual assays as high as 274g/t gold, and in total 444 historic workings have been identified and sampled over 11 kilometres.

There are indications of potential wall rock mineralisation across the project.

Following on from the success of the original trial program earlier in the year, Stratum continued the sampling of spoil piles around historic workings

In total 1,332 samples were collected as three samples were taken from each of the workings, with the 444 workings identified in the field is well in excess of the 100 to 150 shafts/workings expected from department records.

Analysis

Underneath these workings is potential for nickel sulphides, with Stratum the first company to fly a HeliTEM survey over an area that Stratum believes to be a very large massive sulphide conductor at the project.

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

These HeliTEM results are due within the next week, and if massive sulphides are detected - then Stratum has the potential for a positive re-rating in-line with other companies recently making massive sulphide discoveries.

Considering the market cap. of just $5 million Stratum is leveraged to any exploration success, and therefore the $0.093 on offer for each Stratum share is light.

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