Stratos to aquire Darlot North Gold Project

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THE BOURSE WHISPERER: Stratos
Resources has executed an option agreement with Interglobal Investments
to purchase up to 100 per cent of the Darlot North Gold Project, located
60km east of the township of Leinster in Western Australia. 



 The Darlot North project is
located on the Yandal Greenstone Belt, just 7 kilometres north of the 3
million ounce Darlot Gold Mine, currently operated by Barrick Gold
Corporation, and consists of tenements E37/747 and E36/555 over an area
of approximately 104 square kilometres.


 The Yandal Greenstone Belt is host to several multi-million ounce
deposits, including the Jundee, Bronzewing and Darlot gold mines.

 The Darlot North project has
had only 299 holes drilled for a total of 18,032 metres completed by
previous owners (average hole depth 60 metres).

 Darlot has produced in excess of 3 million ounces, and still has a remaining ore reserve in excess of 300,000 ounces.

 More recent drilling by Aragon Resources has achieved
multiple high-grade returns including 7 metres 27.53 grams per tonne
Gold, 4 metres 41.96g/t Gold, 7 metres at 11.95g/t Gold, and 3metres at
16.75g/t Gold.

 
Much of the previous drilling was shallow air core, and
failed to reach the high grade zones intersected by the Aragon Resources
program.

 Drilling completed by Aragon confirmed high grade
mineralization at depths of 64 to 133 metres, with mineralisation
remaining open below.

 
The primary zones explored to date only represent 50 per cent of the
prospective areas within the tenement and some 4 kilometres of highly
prospective greenstone remains completely untested by systematic
exploration and drilling.

 Based on the available data, Stratos believes that there is
excellent prospectivity for the delineation of high grade ore deposits
suitable for mining and processing either through existing operations in
the area, or for a stand-alone operation.

The present area of known mineralization also presents a potential bulk-mining scenario using conventional open pit methods.

Subject to completion of the transaction, Stratos will focus initial
exploration work on further defining the known high grade zone of
mineralization to a level suitable for the estimation of a JORC
resource.