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 […]
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Ortac holds 26.99% stake in Andiamo Exploration Ltd, which holds the Haykota licence, prospective for copper and gold. 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, […]
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By Giles Gwinnett, ORTAC Resources (LON:OTC) said its exploration partner Andiamo is about to kick off a 1,000m drill programme on the Haykota licence in Eritrea. It comes after positive trenching results at the Hoba prospect and the diamond drill programme is designed to test VMS style mineralisation in the north of the concession.
Continue ReadingBy Philip Whiterow, ORTAC Resources’ (LON:OTC) Eritrean associate Andiamo Exploreration Ltd. has confirmed near surface high-grade oxide copper and gold mineralisation at Yacob Dewar and identified a new gold and silver deposit nearby. Vassilios Carellas, Ortac’s chief executive, said the trenching and shallow drilling results from Ber Gebey, the new gold and silver find, were just […]
Continue ReadingOrtac and Andiamo teamed up to develop the Haykota licence into a mining licence by June 30, 2015 By Samuel Agini, ORTAC Resources Ltd Monday said strategic partner Andiamo Exploration Ltd has received the results of a rock chip sampling programme across its Ber Gebey prospect, which showed gold values of up to 23 grammes […]
Continue ReadingBy Proactive Investors, Ortac Resources (LON:OTC) has unveiled a strategic tie-up with a private exploration firm, which has a portfolio of “very prospective” high grade copper and gold projects in Eritrea. The mining firm has struck a subscription agreement with Andiamo Exploration to acquire up to 26.75% of the firm by subscribing for shares in […]
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