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Ortac Resources Ltd.
Summary
| Project: | Misisi | |
|---|---|---|
| Deposit: | Akyanga | |
| Location: | Democratic Republic Of The Congo | |
| Commodities: | Gold | |
| Date: | 1/9/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-1-2018: Ortac Resources Ltd. announces an Exploration/Drilling Update report for its Akyanga deposit at the Misisi project. Drilling results incl. 7.8m @ 2.67g/t Au from 240.7m. Since announcing the acquisition of Casa Mining Limited ("Casa") in Novembe | |
| Resources: | (Resource, Inf.): 1.5Moz @ 1.65g/t Au at Akyanga | |
| CP/QP: | [Overall Report]: Thomas Rogers (African Mining Consultants) | |
| ABSTRACT: | Since announcing the acquisition of Casa Mining Limited ("Casa") in November 2017, the management of Ortac has been actively working to complete the acquisition and integration of Casa. To date Ortac owns 87.4% of Casa and expects the acquisition to be completed shortly. As part of the integration with Casa, Ortac management have completed a number of meetings as well as an extensive site visit - in this regard Ortac has also been completing a review of historical drilling data at Casa which includes over 100 holes of exploration drilling predominantly at the Akyanga license area (which has a JORC Mineral Resource of 1.5m ounces @1.65 g/t Au) ("Akyanga"). The results of these will be announced within the next month. In the meantime, Ortac is pleased to report further significant new gold assay results taken from the expansion and infill drill programme currently underway at Akyanga. With over 3,300 meters drilled in 2017, these are again a pleasing set of results, this time from the outer perimeter of our drilling programme at Akyanga - with good consistency of grade well above 2 g/t Au. Both 117 and 118 show good zones of mineable thickness and previous drilling results within 100 metres of hole 118 show 18 metres of 4.63 g/t. We are now evaluating the possibility of expanding certain conceptualised pits - with all the economic advantages that scale brings. We look forward to updating the market going forward as we continue work on this very exciting deposit." | |
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