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ortac resources ltd (OTC) Snapshot

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ortac resources ltd (OTC) Details

Ortac Resources Limited, together with its subsidiaries, indentifies, evaluates, acquires, and develops natural resource projects in central Europe. It primarily explores for gold and silver deposits. The company primarily holds 100% interest in the Šturec Project located in central Slovakia. The Šturec deposit comprises 3 licences, such as the Kremnica mining licence with an area of 11.8 km2, the Lutila exploration licence with an area of 63.2 km, and the Vyhne exploration licence of 36.9 km2. Ortac Resources Limited is based in Road Town, the British Virgin Islands.

20 Employees
Last Reported Date: 08/12/14

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ortac resources ltd (OTC) Key Developments

Ortac Resources Ltd. Receives Copper Assay Results

Ortac Resources Ltd. announced that it has received copper assay results from the systematic trenching programme recently completed by Andiamo Exploration Ltd. on the Yacob Dewar deposit located within the Haykota exploration concession area, in Eritrea. These results provide further confirmation of the presence of high grade, near surface, oxide copper mineralization over a 400m strike length, which is still open to the north and south. A systematic trenching program has been carried out by Andiamo targeting both the copper and gold mineralisation at this deposit. The first complete batch of results received to date is for the copper oxide mineralisation, which now enables the copper oxide mineralisation intersected by previous drilling to be defined in three dimensions. These copper trenches are located in the hangingwall (to the west) of the gold mineralisation at Yacob Dewar, spaced approximately 50m apart, cover 400m of strike in the southern part of the deposit and display widths of up to 80m on surface. The gold mineralisation is known to extend for a further kilometre to the north and historical drilling has shown that the copper oxide mineralisation continues to run sub-parallel to the gold mineralisation in the hangingwall to the north. Some of the highlights of the previous drilling intersected copper oxide mineralisation from surface of 63.0m at the 2.40% Cu; 53.0m at the 1.38% Cu and 42.5m at the 1.32% Cu. These grades and widths are now confirmed by the recently completed surface trenching program to continue all the way to surface. The most southerly copper trench excavated (YDTR-30) intersected the overall grade of mineralisation along a portion of the trench (47.0m at the 1.18% Cu) and at this stage appears to be displaced some 150-200m to the east of the trenches north of it. The mineralisation is open to the south and will require further exploration to determine the extents thereof.

Ortac Resources Ltd., Annual General Meeting, Sep 11, 2014

Ortac Resources Ltd., Annual General Meeting, Sep 11, 2014., at 12:00 GMT Standard Time. Location: 200, Strand.

Ortac Resources Ltd. Announces Group and Company Earnings Results for the Year Ended March 31, 2014

Ortac Resources Ltd. announced group and company earnings results for the year ended March 31, 2014. For the period, on group basis, the company reported loss before income tax of £1,768,000 compared to £1,849,000 a year ago. Loss for the year from continuing operations was £1,768,000 compared to £1,849,000 a year ago. Loss attributable to owners of the parent company was £1,930,000 or 0.08 pence per basic and diluted share compared to £1,766,000 or 0.08 pence per diluted share a year ago. Net cash used in operating activities was £1,704,000 compared to £1,106,000 a year ago. Purchase of intangible assets was £1,174,000 compared to £1,390,000 a year ago. For the period, the company reported operating loss of £1,126,000 compared to £1,023,000 a year ago. Loss before income tax was £1,114,000 compared to £993,000 a year ago. Loss for the year was £1,114,000 compared to £993,000 a year ago.


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