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Ortac Resources Ltd.
Summary
| Project: | Misisi | |
|---|---|---|
| Deposit: | Akyanga | |
| Location: | Democratic Republic Of The Congo | |
| Commodities: | Gold | |
| Date: | 10/5/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-10-2017: Ortac Resources Ltd. announces an Exploration/Drilling Update report for its Akyanga deposit at the Misisi project. JV With CASA Mining - Drilling results incl. 8.10m @ 4.82g/t Au from 53.5m. Ortac Resources Ltd, the AIM listed exploration and | |
| Resources: | (Resource, Inf.): 1.05Moz Au contained at Akyanga | |
| CP/QP: | [Overall Report]: Thomas Rogers (African Mining Consultants) | |
| ABSTRACT: | Ortac Resources Ltd, the AIM listed exploration and mine development company, is pleased to announce that Casa Mining Ltd ("CASA") in which Ortac holds an effective 45% stake, through its ownership of equity and a convertible loan note in CASA, has reported results from the first two diamond core drill hole assays taken from the expansion and infill drill programme currently underway at the 1.5 Moz Akyanga gold deposit ("Akyanga") in the Democratic Republic of the Congo ("DRC"). While the results for the remainder of this first drilling phase (2,200m) are expected over the coming months, the initial results are extremely encouraging and support the existing geological and structural understanding of the Akyanga gold deposit The first phase is fully funded and part of a 5,000m programme of expansion and infill diamond drilling that is designed to demonstrate the potential for the Akyanga deposit to be classified as a resource of in excess of 2 Moz of gold.Vassilios Carellas, Ortac's CEO, commented:"Ortac is extremely pleased with these initial and exciting results, in particular hole MSDD0108 which demonstrates that there is a high grade zone grading over 4 g/t Au in the southern part of the deposit, which at the moment has a potential strike length of over 120m. These initial results support the current geological understanding of Akyanga and potentially move Casa closer to proving a 2+ Moz resource. We look forward to reporting further results from this promising phase of the drill programme in due course. | |
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