Sep 27, 2022

Ortac Makes Further Gold Finds At Akyanga Site

Ortac Resources said it had further significant results from tests at its Akyanga gold deposit in Democratic Republic of the Congo.

The Aim-listed miner said an 8.7-metre section uncovered 3.9 grams per tonne of gold and that 2.8 metres had 10.62 grams per tonne.

Nick von Schirnding, Ortac’s executive chairman, said: “It is encouraging to see that the expansion and exploration drilling continues to intersect substantial thicknesses of mineralisation at grades of well over 2 [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 10 November Ortac increased its holding in Casa Mining, which owns the Akyanga deposit, to 70% and has offered to buy the remaining stake from minority shareholders. The purchase follows a decision to focus exclusively on African exploration and mining assets.

Von Schirnding said: “With the acquisition of Casa Mining Limited well underway, our executive team has shifted its focus and work in the DRC to better understand the rest of the large-scale project. We continue to see significant upside potential to build a gold resource beyond our initial 2m-ounce target.”


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