https://www.engineeringnews.co.za

Ortac aims for commercial Slovak mine as it restarts project

18th July 2017

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed Ortac Resources has restarted mining activities at the Šturec deposit, in Slovakia, which will allow the company to continue to work towards establishing a commercial mine in the Kremnica mining licence area.

Restarting small-scale mining activities fulfils a condition required by Slovak regulations to preserve Ortac’s right to exploit the Šturec ore deposit.

The company said on Tuesday that it remained in active discussions with its potential local joint venture partner to develop the project, which could realise about 873 000 oz of gold equivalent from the current mineral resource.

A 2013 prefeasibility study (PFS) confirmed the project’s economic viability. The deposit has a measured and indicated mineral resource of 1.01-million ounces at 2.05 g/t of gold equivalent and an inferred resource of 31 000 oz at 1 g/t gold equivalent.

The PFS deemed that the project would likely have a favourable payback period, estimated at 3.5 years and would present a post-tax internal rate of return of 26%.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rosond
Rosond

ROSOND provides fast, efficient, safe, and cost-effective drilling and grouting services to mining and exploration industries throughout Africa.

VISIT SHOWROOM 
AirNox Pty Ltd
AirNox Pty Ltd

AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.07 1.621s - 140pq - 2rq
Subscribe Now