JOHANNESBURG (miningweekly.com) – An updated mineral resource estimate at the Misisi gold project, in the Democratic Republic of the Congo, has shown the project holds around 1.57-million ounces of gold.
Aim-listed Ortac Resources holds an interest in the project through its shareholding in project owner Casa Mining.
Ortac on Monday pointed out that a report compiled by African Mining Consultants showed that the gold can be exploited at an average grade of 2.27 g/t, using a $1 250/oz gold price and a conservative 1.50 g/t cutoff grade.
Ortac CEO Vassilios Carellas commented that this was an “extremely positive development” for the miner, as it demonstrated the clear potential to increase the gold mineral resources at the project’s Akyanga deposit.
“With the overall resource now at over 1.5-million ounces, and the extensions to the open-ended mineralisation about to be tested by the upcoming drill programme, the geology is very much pointing positively towards the view that a commercially viable and recoverable gold asset is about to be proven in what is a free milling orebody,” he highlighted.