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Positive silver assay results - Kremnica, Slovakia
Positive silver assay results - Kremnica, Slovakia.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n \n Ortac Resources Limited 05 July 2011 \n \n\nOrtac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration\n5 July 2011\nOrtac Resources Ltd ('Ortac' or 'the Company')\nSilver assay results from Kremnica Gold Project, Slovakia\n \nOrtac Resources Ltd, the AIM listed exploration and development company focussed on precious metal projects in Europe, is pleased to report that further to the encouraging initial gold assays reported from its geological exploration drilling programme on the Company's 100% owned Kremnica Gold Project in Central Slovakia ('Kremnica' or 'the Project') on 21 June, the Company is now in receipt of positive silver assays for the first two drill holes. Importantly, these silver assays demonstrate higher grade intervals than previously modelled grades. \n \nKey Points\n \n· Best results include 11m @ 112.66 g/t Ag from 40.6m from borehole STOR-3.1 (including 4m @ 202.45 g/t Ag from 47m) and 24m @ 36.05 g/t Ag from 161m from borehole STOR-3.5 (includes 1m @ 70 g/t Ag from 164m)\n· Reported grade intervals higher than modelled grades and highlight continuity of the mineralisation\n· Increased confidence in conversion of Inferred resource ounces into higher confidence Indicated and Measured categories\n \nOrtac CEO Vassilios Carellas said, \"Once again, these results from our 5,000 metre drilling campaign at our Kremnica project are extremely encouraging, as combined with the gold assays reported a fortnight ago, the gold equivalent grades1 for the main intercepts are in excess of four grams per tonne. This further demonstrates that in this particular part of the deposit, the gold and silver grades being intersected are better than the modelled grades. These positive results help us to better understand the Kremnica mineralisation and increase our confidence in converting Inferred resource ounces into higher confidence Indicated and Measured categories in line with our stated strategy to expand and upgrade our current JORC Resource of 1.1 million ounces of gold equivalent.\"\n \nDetailed Results\n \nThese results are from multi-element assays received for the same holes from which the gold assay results were announced on 21 June 2011.\n \nThe first two diamond drill ('DD') holes we...