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Ortac Resources Ltd.
Summary
| Project: | Misisi | |
|---|---|---|
| Deposit: | Akyanga | |
| Location: | Democratic Republic Of The Congo | |
| Commodities: | Gold | |
| Date: | 6/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-6-2017: Ortac Resources Ltd. announces a Resource Estimation report for its Akyanga deposit at the Misisi project. JV with CASA Mining - Updated JORC resource estimate for Akyanga deposit. Ortac Resources Ltd ("Ortac"), the AIM listed exploration and m | |
| Resources: | (Resource, Inf.): 14.3Mt @ 2.27g/t Au for 2.6Moz Au contained at project | |
| CP/QP: | [Resources]: Thomas Rogers (African Mining Consultants) | |
| ABSTRACT: | Ortac Resources Ltd ("Ortac"), the AIM listed exploration and mine development company, is pleased to provide an update on its investment in Casa Mining Limited ("CASA"), a private company developing the Misisi gold project in the Democratic Republic of the Congo ("DRC"), in which, following conversion of the Company's convertible loan note, Ortac will hold an approximate, 45% equity interest. Vassilios Carellas, Ortac's CEO, commented:"This is an extremely positive development for Ortac, as a major shareholder in CASA. This latest Mineral Resource Estimate firmly demonstrates the clear potential to increase the gold mineral resources at the Akyanga Deposit. One of the findings of the independent AMC report that is particularly encouraging is that the average gold grade for the million ounce core at Akyanga has now increased to over 2.20 g/t Au. With the overall resource now reporting at over 1.5 million ounces, and the extensions to the open-ended mineralisation about to be tested by the upcoming drill program, the geology is very much pointing positively towards the view that a commercially viable and recoverable gold asset is about to be proven in what is a free milling orebody." CASA engaged African Mining Consultants ("AMC") to assist with a review and re-interpretation of the geological model, initiated during an internal workshop with independent experts in 2016 ("IE - 2016"), with the aim of investigating its effect on the potential resource at the Akyanga Deposit. | |
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