22 July 2014

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

The company is raising the money to develop its LED range (sample image)

PhotonStar raises £2.2m 18/07/2014

British LED lighting manufacturer PhotonStar LED Group (AIM:PSL) raised £2.2m by way of a placing.

Begbies issues red flag 18/07/2014

Insolvency specialist Begbies Traynor (AIM:BEG) has issued its latest 'red flag' report on the financial health of British businesses.

Check your credit rating - interest rates may soon be rising 18/07/2014

Advertisement

ABF sees Primark boost 10/07/2014

Food and retail giant Associated British Foods (LON:ABF) has issued a trading update in which it notes a surge of sales from budget supremo Primark.

Tags: Food

Swallowfield keeps moving 10/07/2014

Beauty care specialist Swallowfield (AIM:SWL) unveiled an encouraging trading update for the year to June.

Tags: Trading update

Good Energy grabs Wiltshire consent 04/07/2014

Renewable energy supplier Good Energy Group (AIM:GOOD) has obtained planning consent for a solar farm in north WIltshire. 

More News