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Ortac Resources says Casa Mining has reported “extremely encouraging” assay results from Akyanga gold deposit in the DRC

The AIM-listed exploration and mine development company said the initial results support the existing geological and structural understanding of the gold deposit and further confirm Akyanga as an open-pit resource of over 2mln ounces

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Vassilios Carellas, Ortac's CEO, commented: "Ortac is extremely pleased with these initial and exciting results"

Ortac Resources Ltd (LON:OTC) has announced that Casa Mining Ltd - in which its holds an effective 45% stake - has reported “extremely encouraging” results from the first two diamond core drill hole assays taken from the Akyanga gold deposit in the Democratic Republic of Congo.

The AIM-listed exploration and mine development company said the initial results support the existing geological and structural understanding of the gold deposit and further confirm Akyanga as an open-pit resource of over 2mln ounces.

WATCH: Ortac Resources' Vasillios Carellas sees huge potential with their African assets

READ: Ortac Resources highlights ‘strong position’ as it sees recovering natural resources sector

The group added that, with over 1,100 metres of diamond core successfully drilled and six holes completed, high grade gold mineralisation has been identified in the southern zone linked between holes.

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.”

He added: “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."

READ: Ortac Resources puts focus firmly on African exploration

Aim-listed Premier African Minerals Ltd (LON:PREM) owns a 4.5% stake in Casa Mining.

George Roach, Premier’s chief executive, added the drill results were very encouraging and demonstrate continuity as well as high-grade potential in the southern part of the Akyanga deposit.

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Price: 2.8 GBX

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Market Cap: £20.66 m
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