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Ortac Resources drill programme continues to unearth gold at good grades in the DRC

An 8.7-metre section uncovered 3.9 grams per tonne of gold, including 2.8 metres at 10.62 grams

geologists look at drilling core samples
The company has completed eleven holes to date

Ortac Resources Ltd (LON:OTC) said it had intercepted more gold from two holes drilled at the Akyanga gold deposit, part of the Casa Gold Project, in the Democratic Republic of the Congo.

MSDD0115 was the stand-out: it found the yellow metal at decent grades from 98.4 metres and then from 110.6 metres. There was an 8.7-metre section at 3.9 grams per tonne, including 2.8 metres at 10.62 grams. This was followed by a thicker section – 27.5 metres at 2.86 grams.

MSDD0114, meanwhile, uncovered gold at grades of up to 1.32 grams per tonne.       

Infill and expansion

The latest results were part of an infill and expansion operation at Akyanga.

With the 2,200-metre, first phase now complete and the second phase, 2,800-metre drill programme underway, the company has completed eleven holes.

Earlier this month it said it uncovered a 24.75-metre intersection at a grade of 8.04 grams per tonne, including five metres at a grade of 22.63 grams per tonne - which represent the highest ever grade and thickness at Akyanga.

Encouraging results

Ortac chairman Nick von Schirnding said of the latest drill results: "It is encouraging to see that the expansion and exploration drilling continues to intersect substantial thicknesses of mineralisation at grades of well over two grams per tonne of gold. 

“The results of this drilling will continue to fill the gaps in the current resource model and improve our geological understanding of the Akyanga deposit.”

On November 10, Ortac took its ownership of CASA Mining, which held the asset base being drilled, to 70%.

READ: Ortac Resources takes controlling stake in Casa Mining, launches offer for whole company

The Ortac executive team is now in the DRC trying to “better understand” the rest of this large-scale project, said Schirnding.

“Our gold belt licence extends to over 55 kilometres where significant grades of gold have already been identified in previous drilling and trenching activities, which we are currently reviewing,” he added. 

“We continue to see significant upside potential to build a gold resource beyond our initial two million-ounce target."

Quick facts: Arc Minerals Limited

Price: 2.69 GBX

Market: AIM
Market Cap: £18.96 m

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