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Ortac Resources focused on gold potential in DRC

Subsidiary Casa is exploring the Akyanga gold project in the Democratic Republic of the Congo
picture of mine hats
Akyanga is in the Democratic Republic of Congo

Mining junior Ortac Resources Ltd (LON:OTC) expects to take 100% control of Casa Mining within a matter of weeks.

Already more than 87% owned by Ortac, Casa is exploring the Akyanga gold project in the Democratic Republic of Congo and recently announced it wants to expand the project to incorporate structures that run parallel to the prospect.

READ: Ortac Resources says Casa to start new phase of work at Akyanga gold project

Last month, Ortac raised US$2.2m to fund an ongoing 5,000m drill programme. 

Elsewhere, talks are ongoing with partners about further exploration at Zamsort, a copper/cobalt property in Zambia. 

Ortac is also in talks over the future of the Slovakian exploration property, Sturec. 

READ: Ortac moving closer to full ownership of Casa Mining

“We believe that while the future potential of the asset is significant, it requires an owner with a longer timeframe to work through the various issues in respect of developing Sturec,” the group said. 

Losses for the six months ended September 30 were (£304,000) (2016: £253 000).   

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