AMN - DRC: Casa investigates Akyanga production start

Ortac Resources, the AIM-listed exploration and mine development company, provides an update on Casa Mining Ltd, a private company in which Ortac holds a 12% interest. Casa holds prospective gold mining and exploration licences in the Democratic Republic of Congo.

Operational progress:

-          Casa has received an updated scoping level study on a Stage 1 gravity process plant for the Akyanga gold deposit and commenced a further study for a Stage 2 CIL expansion phase

-          Estimated initial CAPEX of $7.3 million with operating costs estimated at $12.14/tonne

-          Casa is preparing plans to further increase and improve the confidence levels of the existing 1.2 Moz JORC compliant inferred resource base.

Ortac CEO Vassilios Carellas, Ortac's says: "Since our initial investment earlier this year, Casa has achieved its aim to investigate the potential start of production at Akyanga at a reduced rate and significantly reduced cost, with a view to rapidly expanding operations thereafter. The results of this initial investigation are extremely encouraging and provide further support for capitalising on the project's potential in this manner. Over the next few months, Casa intends to complete a further study on Stage 2, which I expect will demonstrate further the robustness of this approach.”

http://casamining.com

News courtesy of International Mining