viewArc Minerals Limited

Ortac Resources reveals significant drill results from Akyanga gold deposit

New drill results from the programme are expected to extend the project’s open pit resources to the south.

gold bars
Ortac sees Akyanga as a potential 2mln ounce gold project

Ortac Resources Ltd (LON:OTC) has revealed significant drill results from the Akyanga gold deposit in the Democratic Republic of Congo.

The company reported a 24.75 metre intersection at a grade of 8.04 grams per tonne, including 5 metres at a grade of 22.63 grams per tonne - which represent the ‘highest ever’ grade and thickness at the Akyanga Deposit.

READ: Ortac Resources puts focus firmly on African exploration

Eight holes totalling 1,920m have been completed so far, with one hole intersecting 24.8m at 8.04 grams per tonne (g/t) of gold (Au) from 201m, including 5.4m at 22.6 g/t Au.

New drill results from the programme are expected to extend the project’s open pit resources to the south and, according to Ortac, the results validate the potential for Akyanga to become a 2mln ounce gold resource.

"These latest assay results further support our view that the Akyanga Deposit is likely to develop into a major resource in excess of 2mln ounces gold with very attractive grades,” said Nick von Schirnding, Ortac executive chairman.

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

“The drilling results - the highest ever grade and thickness reported - represent a turning point in the history of this asset. As the largest investor in CASA, we shall be driving forward with an accelerated drill program on this rapidly expanding gold resource.”

He added: “We expect to receive the results for two further completed holes within the next few weeks and, with several high priority targets still untested, we remain upbeat about the Akyanga story, as it continues to develop into a potentially very significant commercial gold resource for Ortac."

Quick facts: Arc Minerals Limited

Price: 2.65 GBX

Market: AIM
Market Cap: £19.56 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Things coming together nicely in Greenland, says Bluejay Mining's CEO

Rod McIllree, Bluejay Mining PLC’s (LON:JAY) chief executive, tells Proactive that all three of its projects in Greenland are shaping up nicely with plenty of interest from mining giants. Dundas is the flagship and here a bulk sample of mineral sands has been shipped to a Rio Tinto facility...

2 days, 14 hours ago

2 min read