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Result of Geophysical Survey - Lutila
Result of Geophysical Survey - Lutila.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n \n Ortac Resources Limited 18 July 2011 \n \n\nOrtac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration\n18 July 2011\nOrtac Resources Ltd ('Ortac' or 'the Company')\nLutila Geophysical Survey Indentifies\n14 Anomalous Zones for Follow-up Drilling\n \nOrtac Resources Ltd, the AIM listed exploration and development company focussed on resource projects in Europe, has received the final Geophysical Survey Interpretation Report conducted in June 2011 over part of its 63 sq km Lutila Exploration Licence Area ('Lutila'), in Slovakia. These results have identified 14 anomalous zones for follow-up diamond drilling, with at least six considered to be first priority targets ranging in depths from sub-surface to greater than 650m and a further four classified as second priority targets with similar depth ranges.\n \nOrtac CEO Vassilios Carellas commented, \"We are delighted with the positive results generated from the geophysical survey at Lutila, which correlate well with the previously postulated target depths and locations for discovering high grade gold mineralisation within the licence area. This new data will now be incorporated with the existing historical exploration data and re-evaluated to further optimise the geological model and define firm drill targets. This is an exciting start for us as we look to explore the wider Kremnica Gold Project, which itself is generating encouraging initial results from its geological exploration drilling programme.\"\n \nFurther Details\n \nThe survey was conducted by Quantec Geoscience Limited ('Quantec') over part of Lutila, which is contiguous to the Company's flagship Kremnica Mining Licence Area in Slovakia, where previous limited exploration works had demonstrated the potential for high grade gold mineralisation at depth. Its objective was to assess an area known as Certov Vrch for geophysical signatures related to new mineralisation that might be present at depth. Certov Vrch is comprised of a large, resistant, silicified rhyolite flow-dome that caps the hill, which is interpreted to be the present-day manifestation of a fully preserved, fossilised geothermal system. \n \nThe geophysical survey used a Titan 24 Distributed Acquisition System ('DAS'; Sheard, 1998), which employs a combination of m...