(MENAFN - ProactiveInvestors - Australia) 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.