Ortac updates on inferred resources at Akyanga Deposit
Source - SMW
Ortac Resources has provided an update on its investment in Casa Mining Ltd, a private company developing the Misisi gold project in the Democratic Republic of the Congo (DRC).
Following conversion of Ortac's convertible loan note, it would hold a roughly 45% equity interest.
- African Mining Consultants (AMC) have provided an updated JORC-compliant Inferred Mineral Resource of 1,046,000 oz Au at an average grade of 2.27 g/t Au, using a $1250/oz gold price and a conservative 1.50 g/t Au cut-off grade;
- Over 350,000 oz increase in Au Inferred Mineral Resources at a 0.5 g/t Au cut-off grade to 1,573,000 oz Au at an average grade of 1.65 g/t Au;
- High cut-off grade demonstrates a robust >2g/t Au orebody;
- Extensions to open-ended mineralisation to be investigated in upcoming drill programme.