Ortac enters Slovakian joint venture on Sturec project

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Europe and Africa-focussed mineral exploration company Ortac Resources announced on Thursday that it entered into an agreement to form a joint venture with a Slovakian company to jointly develop the Sturec Gold Project at Kremnica.

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The AIM-traded firm said the Sturec project had a reserve of just under 900,000 ounces gold equivalent which had progressed to pre-feasibility stage.

“Meanwhile the process for final validation of the underground mining license as announced on 17 March 2017 continues on track,” the board confirmed in a statement.

“Further details of the joint venture agreement will be published when it has been formalised in a legally binding contract.”