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Stratum Metals MD Increases Stake On The Back Of High Grade Gold Intercepts

Stratum Metals (ASX: SXT) managing director Martin Holland has increased his stake in the company following the delivery of broad and high grade gold assays at Gidgee North.

Holland spent $7,650 to take up a further 30,000 shares in Stratum in an on market purchase, taking his total direct holding in the company to 201,117 ordinary shares.

Last week, Stratum announced results from recent step out drilling to the north and south of the German Well South Prospect in Gidgee North.

A peak intercept of 1 metre at 37.1 grams per tonne (g/t) gold was returned within a broader 21 metre intersection.

Highlights from the drilling program include:

- 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.

Mineralisation is open along strike in both directions and at depth, and Stratum is planning a Stage 2 reverse circulation drilling program that is expected to begin in late June 2012.

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