(proactiveinvestors) UPDATE - Ortac Resources reveals encouraging exploration results from Eritrea

From: Yemane Abselom <yemane.abselom_at_gmail.com_at_dehai.org>
Date: Tue, 13 May 2014 15:23:35 -0400

http://www.proactiveinvestors.co.uk/companies/news/68451/update-ortac-resources-reveals-encouraging-exploration-results-from-eritrea-68451.html
UPDATE - Ortac Resources reveals encouraging exploration results from
Eritrea By Jamie
Ashcroft<http://www.proactiveinvestors.co.uk/pages/the_team#Jamie%20Ashcroft/>
May 13 2014, 12:12pm [image:
Overall trenching unearthed gold grades up to 4.38 grams per tonne]Overall
trenching unearthed gold grades up to 4.38 grams per tonne

Ortac Resources<http://www.proactiveinvestors.co.uk/companies/overview/9241/Ortac+Resources>(
LON:OTC<http://www.proactiveinvestors.co.uk/companies/overview/9241/ortac-resources-9241.html>)
has revealed encouraging assay results from drilling and trenching at the
Yacob Dewar prospect in Eritrea.

The findings confirm that high grade copper exists to the base of oxidation
within the core zone of the known mineralisation, the
company<http://www.proactiveinvestors.co.uk/companies/news/68451/update-ortac-resources-reveals-encouraging-exploration-results-from-eritrea-68451.html#>said.

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.

Ortac chief executive<http://www.proactiveinvestors.co.uk/companies/news/68451/update-ortac-resources-reveals-encouraging-exploration-results-from-eritrea-68451.html#>Vassilios
Carellas described the exploration results as ‘excellent’.

"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.

Shares advanced<http://www.proactiveinvestors.co.uk/companies/news/68451/update-ortac-resources-reveals-encouraging-exploration-results-from-eritrea-68451.html#>on
Tuesday following the news and are up 5% to 0.21p.
Received on Tue May 13 2014 - 15:23:36 EDT

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