21st Feb 2014 09:01
LONDON (Alliance News) - Ortac Resources Ltd Friday said discussions have been held regarding its trial underground mining application in Slovakia with the Slovak District Mining Bureau, Banska Bystrica.
The natural resource development company said it met with the Bureau on February 18 at Ortac's representative office in Kremnica.
The company said the purpose of the meeting was for the Bureau to discuss the company's mining licence with local interested parties, civic associations and other stakeholders in order for Ortac to hear any concerns that may arise from its plan.
Ortac said that following the meeting, the District Mining Bureau will be in a position to make a formal decision to issue or refuse a permit to mine.
In order to prepare for underground mining at the site, the company recently took channel samples from its phase I development zone. The tests returned high grade gold and silver intercepts of up to 78 grams per tonne of gold and 72 grams per tonne of silver in a 1.5 metre long channel sample.
Ortac Resources shares were up 6.7% to 0.240 pence, putting it in the top AIM risers during early trading Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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