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Update on Sturec Project

16 Sep 2014 09:30

RNS Number : 7862R
Ortac Resources Limited
16 September 2014
 

 

Ortac Resources Ltd

("Ortac" or "Company")

 

UPDATE ON ŠTUREC PROJECT

 

The Board of Ortac Resources Limited, the AIM listed exploration and mine development company, notes that from local media reports, on Friday 12 September 2014, the Slovak Parliament approved an amendment to the Slovak Mining Law banning the use of cyanide leaching technology in gold processing.

As part of the Company's technical work programme, tests using alternate methods of processing have already been part of Ortac's ongoing development research. At present, 20 tonnes of material mined from the Šturec Deposit, under the recently awarded mining permit have been sent for pilot scale tests utilising a potential alternative gold recovery process that the Board believes will be economic.

 

Ortac remains committed to the Šturec Project and will continue to work with the community and the Slovak state, for the benefit of all stakeholders. The Board will continue to update shareholders accordingly.

 

 

Ortac Resources Ltd

Vassilios Carellas (CEO)

+44 (0) 20 7389 9050

 

Cantor Fitzgerald Europe (Nominated Adviser & Broker)

Stewart Dickson / Carrie Lun / Jeremy Stephenson

 

+44 (0) 20 7894 7000

 

SP Angel (Broker)

Ewan Leggat

 

+44 (0) 20 3463 2260

 

Loeb Aron & Co. (Broker)

John Beresford-Peirse / Anthony Kluk

 

Yellow Jersey PR Limited (Media Relations)

Dominic Barretto / Kelsey Traynor

 

+44 (0) 20 7628 1128

 

 

+44 (0)7768 537 739

 

Note to Editors

The Šturec Deposit is based in Slovakia and has a JORC Code compliant ore reserve of 1.32 million ounces of gold equivalent, with over 1 Moz in the Measured and Indicated categories. For additional information please visit - www.ortacresources.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSFMSAMFLSEEU
Date   Source Headline
21st Feb 20127:00 amRNSPositive Drill Results - Sturec Project Slovakia
10th Jan 20127:00 amRNSCompletion of Sturec Deposit Scoping Study
23rd Dec 20117:00 amRNSBoard Changes
25th Oct 20117:00 amRNSHigh Grade Intercepts - Sturec Deposit, Kremnica
20th Oct 20117:00 amRNSExploration Commences at Zlata Bana Licence
4th Oct 20117:00 amRNSExploration Commences at Cejkov Licence, Slovakia
22nd Sep 20117:00 amRNSFurther Positive Drill Results,Kremnica Project
7th Sep 201112:20 pmRNSResult of AGM
7th Sep 20117:00 amRNSAGM Statement
22nd Aug 201111:17 amRNSDirector/PDMR Shareholding Replacement
22nd Aug 201111:01 amRNSDirector/PDMR Shareholding
16th Aug 20114:10 pmRNSNotice of AGM and posting of Report and Accounts
26th Jul 20119:55 amRNSPreliminary Results
26th Jul 20119:50 amRNSChange of Adviser
18th Jul 20117:00 amRNSResult of Geophysical Survey - Lutila
5th Jul 20117:00 amRNSPositive silver assay results - Kremnica, Slovakia
27th Jun 20117:00 amRNSAppointment of Group Mining Engineer
21st Jun 20117:00 amRNSInitial Drill Results from Kremnica Gold Project
14th Jun 20117:00 amRNSGeophysical Survey at Lutila Gold Licence
24th May 20117:00 amRNSAppointment of Chief Financial Officer
18th Apr 20117:00 amRNSKremnica Gold Project Progress Report
7th Apr 201110:00 amRNSRio Paranaiba Update
22nd Feb 20117:00 amRNSHolding(s) in Company
18th Feb 20113:40 pmRNSExercise of Options
10th Feb 20111:25 pmRNSExercise of Options
9th Feb 20117:00 amRNSGBP8.4m Raised to Advance Kremnica Gold Project
7th Feb 20113:56 pmRNSSeeking to Raise Approximately £8 Million
1st Feb 20117:00 amRNSRio Paranaiba Iron Ore Project Update
25th Jan 20117:00 amRNSRaises JORC Resource to 1.1Moz Au Eqv.
10th Jan 20117:00 amRNSAppointment of Lead Broker
22nd Dec 20107:00 amRNSInterim Results
16th Nov 20102:16 pmRNSAppoints Joint Broker
5th Nov 20107:00 amRNSBoard Changes
19th Oct 20104:18 pmRNSIssue of Options
8th Oct 201012:26 pmRNSResult of Annual General Meeting
28th Sep 20107:00 amRNSSnowden Appointed & Resource Remodelling Commences
23rd Sep 20107:00 amRNSNotice of AGM
21st Sep 201010:46 amRNSHolding(s) in Company
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17th Sep 20105:10 pmRNSChange of Name
15th Sep 20103:09 pmRNSIssue of Equity
15th Sep 20107:00 amRNSCompletes Reverse Takeover of Ortac Resources Plc
14th Sep 201012:53 pmRNSReport and Accounts to 31 March 2010
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