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Ortac Resources Working On Alternative Gold Processing Methods

Tue, 16th Sep 2014 09:05

LONDON (Alliance News) - Ortac Resources Ltd Tuesday said it is working on developing alternative gold processing methods following the decision by the Slovak government last week to ban the use of cyanide leaching technology for gold processing.

The Slovak government last week approved an amendment to the Slovak Mining Law banning the use of cyanide leaching in gold processing.

Ortac, which has a 100% interest in the Kremnica mining licence, along with three further mining licences in Slovakia, said it has already been using alternative methods of processing as part of its ongoing development research.

It said 20 tonnes of material mined from the ?turec deposit has been dispatched for test utilising a potential alternative gold processing method which the company believes to be economic.

Ortac shares were trading 9.1% lower on Tuesday at 0.2 pence per share.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance