JOHANNESBURG (miningweekly.com) – Aim-listed Ortac Resources on Thursday reported further significant mineralisation intersection at its Casa mining project, in the Democratic Republic of the Congo.
The new gold assay results emerged from the expansion and infill drill programme currently under way at its Akyanga gold deposit and show 8.70 m at 3.90 g/t gold from 98.40 m, including 2.80 m at 10.62 g/t gold from 100.20 m, and 27.50 m at 2.86 g/t gold from 110.60 m.
“It is encouraging to see that the expansion and exploration drilling continues to intersect substantial thicknesses of mineralisation at grades of well over 2 g/t gold,” said Ortac executive chairperson Nick von Schirnding.
The drilling results are aimed at “filling the gaps” in the current resource model and improve the company’s geological understanding of the Akyanga deposit, which formed part of the newly acquired large-scale Casa mining project.
The gold explorer and developer announced plans to increase its stake in Casa in November following the unveiling of a new Africa-focused strategy aimed at focusing on high-potential African exploration assets.
The company has entered into a binding agreement to buy an additional 33.82% of the issued share capital of Casa, taking its shareholding to 70.09%, and has stated its intention of making an offer for the balance of the issued share capital of Casa.
“We continue to see significant upside potential to build a gold resource beyond our initial two-million-ounce target,” Von Schirnding said.
The first 2 200 m first phase drilling is completed, with Ortac working on the 2 800 m second phase drill programme.