http://www.ortacresources.com/


The Companys strategy is to utilise Ortacs highly experienced board and management team, together with its solid foothold in the Central European region, to consolidate additional exploration and development opportunities in the precious metal sector.
Having already acquired the necessary capital, the Company plans to update the resource, complete a scoping study and preliminary environmental and social impact assessments, and bring into production its initial asset, the Kremnica Gold Project in Slovakia.
The Company has identified several regional consolidation opportunities at various stages of development which are currently being evaluated to significantly increase Ortacs resource inventory and maximise shareholder value. Third party companies with advanced staged projects in the region which can be fast-tracked to achieve near term production are also being actively sought and evaluated.

Commencement of Geophysical Survey at Lutila Gold Licence
Ortac Resources Ltd, the AIM listed exploration and development company focussed on precious metal projects in Europe, is pleased to announce the commencement of a ground based geophysical survey over the northern section of its 63 km sq Lutila Exploration Licence Area ('Lutila') to generate gold mineralised targets for follow up drilling. Lutila is part of the Company's flagship Kremnica Gold Project in Central Slovakia and is contiguous to the Kremnica Mining Licence Area, which has a current JORC resource of 1.1 million ounces of gold equivalent, and is being fast-tracked towards production.

The Titan 24 ground based geophysical survey will be conducted by Quantec Geoscience Ltd ('Quantec') and will consist initially of three survey lines, totalling 7.2km each, of direct current, induced polarisation and magnetotelluric resistivity data acquisition. Each Titan 24 line will be approximately 2.4km long with each survey line having the ability to acquire data over a 100m wide zone. All field data will be compiled, processed and interpreted by experienced professionals at Quantec's Interpretation Centre in Toronto, Ontario.

UPDATED 14 JUN 2011

OTC website - http://www.ortacresources.com

Current JORC: 1.1 Moz of gold equivalent,'Au Eq'. (938k Au + 7,427k Ag)

http://www.investegate.co.uk/Article.aspx?id=201101250700090190A

Au measured..0,096,000 Oz

Au indicated...0,400,000 Oz

Au inferred..0,443,000 Oz.

Ag measured..0,790,000 Oz

Ag indicated...3,353,000 Oz

Ag inferred..3,284,000 Oz.

Shares In issue....2,315,679,020

Share Price........1.12p (1.11p-1.13p)

Mkt Cap............25.94m

05.01.11.....OPTIVA SECURITIES Buy Note. Current sp 2.68p. 6 month target sp 3.45p

http://www.ortacresources.com/documents/OptivaNote05.01.11.pdf

17.02.11.....OPTIVA SECURITIES Buy Note. Current sp 1.55p. 12 month target 3.39p.

12 month target sp 3.39p at average gold price of US$1,060

12 month target sp 6.40p at average gold price of US$1,400

http://www.ortacresources.com/documents/OptivaNote17.02.11.pdf

18.02.11.....SEYMOUR PIERCE Buy Note. Current sp 1.55p, target 3.00p using US$126/Adj. Au oz Equiv to our adjusted Kremnica resource 724koz Au Equiv. + 0.5m VGM shares + 11.0m (0.48p/share) cash.

"At present we ascribe no value to the companys other exploration licences in Slovakia or Brazil and work on these projects could add significant value if resources are outlined."

http://www.ortacresources.com/documents/SeymourPierceInitiationofCoverage18.02.11.pdf

14.06.11.....OPTIVA SECURITIES - Target 3.39p.

New Geophysical Survey Work Ortac Resources has this morning announced the start of ground based geophysical survey work on its Lutila exploration licence in Slovakia. Lutila (63 sq km) lies immediately to the south of the main Kremnica gold project area (11.8 sq km), where the Group has already defined a resource of 1.1m ounces of gold equivalent. The results of the work will assist in identifying future drill targets and establish the potential for Lutila to host similar gold mineralisation to the Kremnica discovery. The management objective is to move the Groups resource base beyond 2m ounces of gold. The stock has drifted over the last few months, but could soon rebound given the near term potential newsflow opportunities ahead such as scoping study results, drilling data and resource upgrade. The Group remains cash rich (est 10m) with a high quality asset that is near to production and yet the market is essentially valuing the stock at only $23 per ounce, once cash and investments are deducted from the market cap. Against the background of a consistently high gold price that continues to trend upwards, we believe this figure is simply too low. We therefore continue to recommend Ortac Resources as a BUY with a price target of 3.39p as detailed in our 17 February 2011 research note

14.06.11.....Proactive Investor - broker comments

http://www.proactiveinvestors.com.au/companies/news/17123/update-ortac-resources-starts-survey-on-lutila-licence-in-slovakia-17123.html

As we thought the sp is way under valued even running with the defined resource.

StockMarketWire.com
Ortac Resources has reported encouraging initial results from its geological exploration drilling programme, on the company's 100% owned Kremnica Gold Project in Central Slovakia.

Positive results have been recorded from first two diamond drill ('DD') holes which has the potential to increase the current JORC compliant resource of 1.1m. ounces of gold equivalent.

Best results include 24m @ 3.65 g/t Au from 161m from borehole STOR-3.5 (including 1m @ 21.9 g/t Au from 161m and 1m @ 11.75 g/t Au from 164m) and 11m @ 1.85 g/t Au from 40.6m from borehole STOR-3.1 (includes 1.6m @ 4.06 g/t Au from 40.60m).

Reported grade intervals are generally higher than modelled grades and highlight continuity of the mineralisation. There is increased confidence in conversion of Inferred resource ounces into higher confidence Indicated and Measured categories

Borehole ID STOR-3.5, from which 24m @ 3.65 g/t Au from 161m was intersected, was prematurely terminated while still in mineralisation due to difficult drilling conditions.

Ortac CEO Vassilios Carellas said, "I am delighted to announce the first set of results from our 5,000 metre drilling campaign at our Kremnica project, through which we are gaining a better geological understanding of areas of the deposit where we have limited information.

"The results are extremely encouraging, particularly as the grades reported are generally better than the modelled grades for the same area and clearly demonstrate the continuity of the mineralisation in these areas. This will naturally result in these areas being re-classified into higher confidence categories as part of the next resource update, in line with our stated strategy to expand and upgrade our current JORC Resource of 1.1m. ounces of gold equivalent."

Dont see this new found confidence reflected in the s.p yet! I suppose seeing is believing??

marked lack of confidence in dealing although very cheap?? any of you smart guys know "Whats occuring?"

sat on hands except small punt on RMP.,.

If they were undervalued last week then they are a steal this week,but they still drop ?? why oh why does my crystal ball not respond to a good kicking!!!???

maybe you need someone else to kick them to get the full effect??? :))

.......I'll go and get my Doc Martins!........

thinking more of my steel toecaps......

I am tinking I wuz dun? every time I shake the durn ting I get a cackling hag emerging from a snow storm yelling " All that glitters is nay gold!!" What does it all mean?? Its blue skies outside and the missus is out!!!

Can lend you some jump leads.

bb, i'd be getting worried and start taking my medication i'v been neglecting recently!!!!..LOL

Ask Bb, He has golden balls not crystal

the only thing my balls tell me is.....................your getting old and past it............very depressing.......GB you take the medication think you need it more than me......l..o..l :(

Do they tell you tonights lottery no's

Mind you they have not helped with your guess at the end of month Ftse price. Miles out . lol

Balerboy don't believe I was addressing you!!! unless beebusy is one of your aliases???? or you answer for him/her/YOU... :):):)

GB, soz jumped to wrong bb conclusion and not clever enough to have an alias.,. and DC is your name up there at all.........