Tag Archives: Haykota Exploration

Andiamo Exploration Raising Funds to Explore Eritrea Licences

Andiamo Resources undertaking exploration at Haykota and Yacob Dewar gold project licences in Eritrea.
Andiamo undertaking exploration at its Haykota and Yacob Dewar gold project licences in Eritrea.

BY MINING WEEKLY

Private UK-based junior miner Andiamo Exploration is seeking to raise $2 million to undertake exploration at its licences, in Eritrea, and continue the development of its mines.

Speaking at the Junior Mining Indaba, in Johannesburg, CEO Tim Williams on Thursday said the company, in which mineral exploration company Ortac Resources holds an 18.5% stake, was currently exploring the Haykota volcanogenic massive sulphide licence, which covered 271 km2. Continue reading Andiamo Exploration Raising Funds to Explore Eritrea Licences

Ortac Hails Potential Andiamo Investment in Eritrea

Ortac holds 26.99% stake in Andiamo Exploration Ltd, which holds the Haykota licence, prospective for copper and gold.

Ortac Resources hailed Environminerals East Africa (EEA) for exchanging its 25% joint venture interest for its Eritrea exploration partner Andiamo Resources.

By Proactive Investor,

Ortac Resources Ltd (LON:OTC) shares surged over 7% as it hailed a potential 25% stake being taken in its Eritrea exploration partner Andiamo.

The AIM-quoted firm holds a near 27% stake in the latter, which holds the Haykota exploration licence, prospective for copper and gold.

In the summer, the Eritrean Government granted Andiamo an extension of 91 sq km to the license area to include ground known to host volcanogenic massive sulphide (VMS) targets. Continue reading Ortac Hails Potential Andiamo Investment in Eritrea