1 February 2015

Ortac finds high grade at Sturec

21/02/2012 Ben Jaglom

Slovakia-focused Ortac Resources (OTC) has reported an encouraging set of results from its Sturec project.

The AIM-quoted concern declared that the results had shown consistent high grade intercepts with what it described as 'encouraging' widths. The strongest results included 87.9 metres grading at 6.95 grammes a tonne and 66.3 metres grading at 1.26 grammes a tonne.

Ortac argued that the results 'provide further confidence in the robustness of the Sturec resource mode' adding that it should help to enable 'future analysis for conversion of inferred resource ounces into higher indicated and measured categories'.

Chief executive officer Vassillios Carellas remarked that the results show that the 'recently completed scoping study is based on sound principals' noting that the high gold grades 'provide us with with required evidence to justify further drilling to the south of the Sturec fault' where there had been previously little mining activity.

Shares in Ortac were last recommended by Growth Company Investor last November at 0.98p as a speculative buy. Currently trading at 0.86p the company is valued at £19.8 million

Tags: Doing business in Slovakia, Drilling in Eastern Europe, European mining

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2014

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1,044 AIM-quoted companies. The full report is available to order for £365 + VAT. Click here for more info

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

Oakley Capital previously took over legendary magazine group Time Out

Oakley grabs Damovo 30/01/2015

Private equity house Oakley Investments (AIM:OCL) has purchased IT group Damovo.

Herencia to sell La Serena 30/01/2015

Chilean miner Herencia Resources (AIM:HER) has agreed to sell the La Serena project in a deal worth $4 million (£2.65 million). 

Tags: Mining

SRT wins Malaysian contract 16/01/2015

Marine tracking specialist Software Radio Technology (AIM:SRT) has won a contract to supply its display system to a port in Malaysia.

Tags: South East Asia

Graphene still tough 16/01/2015

Materials company Graphene NanoChem (GRPH) issued a 'solid' update regarding its 2014 trading.

Cyan grabs Brazil win 18/12/2014

Smart metering outfit Cyan Holdings (AIM:CYAN) has won an order for 1,000 modules in Brazil.

Ideagen raises £17.5m and nabs Gael 18/12/2014

NHS Software specialist Ideagen (AIM:IDEA) is to acquire fellow software play Gael for £18 million.

More News