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Proactive Investor UK: Ortac Resources associate to start drilling in Eritrea

Posted by: Semere Asmelash

Date: Wednesday, 26 April 2017

Ortac Resources associate to start drilling in Eritrea

26 Apr 2017

Andiamo will carry out a reverse circulation, shallow programme at Haykota.

picture of drill
Copper and gold is what Andiamo is looking for

Ortac Resources Ltd’s (LON:OTC) Eritrea associate Andiamo Exploration is set to start drilling at its Haykota licence after arranging funding for the programme.

Andiamo will carry out a reverse circulation shallow drill programme at Haykota, which is prospective for copper and gold.

Vassilios Carellas, Ortac's CEO, commented: "We are very pleased that Andiamo has secured the funds to re-commence drilling these highly prospective targets in their Haykota license area and we look forward to reporting further progress in due course."

Ortac holds an 18.48% equity interest in Andiamo, though its holding was diluted in February when private equity group Emerald Ex took a stake.

Shares eased 6% to 3.5p.


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