Modern Mining December 2017
More good drill results from DRC gold deposit
Ortac Resources has announced further significant new gold assay results from the expansion and infill drill programme cur- rently underway at its Akyanga gold deposit, part of the Misisi gold project in the DRC. Highlights of the latest batch of drill results include 8,70 m at 3,90 g/t Au from 98,40 m, including 2,80 m at 10,62 g/t Au from 100,20 m; and 27,50 m at 2,86 g/t Au from 110,60 m. Nick von Schirnding, Ortac’s Executive Chairman, commented: “It is encouraging to see that the expansion and exploration drilling continues to intersect substantial thicknesses of mineralisation at grades of well over 2 g/t of gold. The results of this drill- ing will continue to fill the gaps in the current resource model and improve our geological understanding of the Akyanga deposit. “With the acquisition of CASA Mining Limited well underway, our executive team has shifted its focus and work in the DRC to better understand the rest of the large-scale project. Our gold belt licence extends to over 55 km where significant grades of gold have already been identified in previous drill- ing and trenching activities, which we are currently reviewing.We continue to see signif- icant upside potential to build a gold resource beyond our initial 2-million-ounce target.” Ortac recently announced a strategic review inwhich it decided to focus exclusively on its high-potential African exploration and mining assets, including CASA’s Misisi gold project in the DRC’s South Kivu Province. The company is in the process of complet- ing an offer to acquire all the outstanding shares in CASAMining Limited, a private com- pany focused on developing the Akyanga deposit, one of several potential resources within the Misisi gold project in the DRC.
The Voorspoed diamond mine (photo: De Beers).
De Beers puts Voorspoed on the market
De Beers Group recently announced it is seeking expressions of interest from potential buyers for its Voorspoed mine near Kroonstad in the Free State. After evaluating a range of options, the decision to place Voorspoed mine on the market has been taken to provide the opportunity for responsible lower-cost operators to employ a different operat- ing model. De Beers believes this could potentially extend the mine’s operating life beyond 2020. Potential buyers will be required to exhibit a record of success technically and financially and to meet all applicable regulatory and social requirements while economically and sustainably operating the mine. Phillip Barton, CEO of De Beers Consoli dated Mines, said: “I am very proud of the Voorspoed mine team, who have contrib-
uted so much to the operation’s success to date and ensured it has always operated to the highest standards of environmental and social performance. However, based on our experience with other operations, we believe the most responsible course of action is to give other lower-cost operators the opportunity to purchase the mine and potentially extend its life, as this will maxi- mise the benefit for the community and the mine’s workers.” The Standard Bank of South Africa Limited has been appointed as financial adviser to De Beers on the proposed dis- posal process of Voorspoed mine. In its South African portfolio, De Beers also operates the Venetia mine in Limpopo Province and is currently making its largest ever investment in South Africa with a R20 billion project to take the mine underground.
December 2017 MODERN MINING 7
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