In a drill hole, mineralisation with 1.11% copper was encountered from
surface, whilst gold grades of 1.84 grams per tonne across 24 metres were
observed via surface trenching.
Overall trenching unearthed gold grades up to 4.38 grams per tonne.
"We are encouraged by the second batch of assay results which demonstrate
that the copper mineralisation within the core of the deposit, continues to
the south and remains strongly mineralised with excellent grades across
broad intersections,” Carellas said.
"We have now begun to define the eastern and western extents of the
mineralisation where the core of the deposit remains open to the north and
south.
“The trench results at both Yacob Dewar and Ber Gebey are significant and
encouraging.”
Cantor Fitgerald's mining analyst Asa Bridle rates Ortac shares a 'buy' and
said: "Results from the Eritrean exploration project continue to be highly
encouraging for both near surface copper and gold mineralisation."
He said that with more results to come, the broker was repeating its 'buy'
stance and target price of 5.5p.