Ortac increases holding in CASA Mining

Exploration and mine development company Ortac Resources updated the market on its investment in CASA Mining on Friday.

The AIM-traded company said CASA is a private company registered in Mauritius that holds prospective gold mining and exploration licences in the Democratic Republic of Congo.

It said the gold resource potential increased at Akyanga at a 0.5g/t cut-off to over 2.3 Moz of gold.

Ortac has also increased its shareholding in CASA to over 13% of the company’s enlarged share capital.

“This latest gold resource estimate, although currently not JORC Code compliant, demonstrates the gold resource potential at CASA's Misisi project,” said Ortac CEO Vassilios Carellas.

“The prospect is still open-ended along strike and down dip, which bodes well for CASA's aspirations to the development of this project and offers the potential for further increases in the resource.”