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.

Would be very nice if it comes through easter come early.,.

agreed bb - looking fwd to next week

found this from a respected poster - of interest....

DATE...............................13.01.11

OTC SHARE SHARE PRICE.....2.21p

OTC SHARES IN ISSUE........1,734,275,487

OTC MKT CAP....................38.3m

OTC CASH.........................approx. 4.2m

(Cash based on results for the year ending 30 September 2010 of 3.296m and OTCs 500,000 VGM shares worth around 0.9m at 180.75p/share.)

OPTIVA RESEARCH NOTE, dated 05 Jan 11:

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



The recent Optiva note, has the heading "ORTAC The next European Goldfields Ltd?".

European Goldfields (EGU)is an AIM listed company, and is a developer/producer with 10Moz gold in Europe. (http://www.egoldfields.com).

EGU has a current Mkt Cap of 1.7 billion (191,838,979 shares X 890p)

(http://www.egoldfields.com/egoldfields/en/investors/aim).

A 1Moz gold resource is a significant psychological barrier. This is the number that makes others sit up and take notice of explorers like OTC.

OTC have said they expect to announce "in excess of 1Moz" in "early January".

As a direct comparison, 1Moz is 10% of EGUs 10Moz therefore valuing 1Moz at a potential 170m. OTC has a current mkt cap of 38.3m (1,724,137,931 shares x 2.21p).This means that when OTC announce a 1Moz resource they could be potentially worth as much as 170m, or 9.86p per share.

Obviously this is not a fair comparison as EGU are already a developer/producer while OTC is still just an explorer so EGU thoroughly deserves their premium. However, it does give an idea of the potential value of a 1Moz gold resource.

There are many other "goldies" with a 1Moz gold resource, many of which are valued at around 130m - 150m thus further emphasising the potential value of a 1Moz gold resource.

Currently, using the Jan 10 "Edison" valuation for a LONDON listed company, (and updated for a gold price of $1415) then this values the gold at $502.80/Oz Measured,$107.08/Oz Indicated and $4.71/Oz Inferred.

Using this basis, then OTCs current gold "in ground" JORC of 665,800 Oz Au (220,600 Oz Measured,315,200 Oz Indicated,130,000 Oz Inferred) is worth 90.22m or 5.2p/share...and we haven't had the upgrade yet!

By definition:

MEASURED - The locations are spaced closely enough to confirm geological and grade continuity

INDICATED - The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed.

INFERRED - Of limited or uncertain quality and reliability.

As can be seen from the above Edison valuation, anything in the INDICATED category is worth 22.73x more than Inferred and a MEASURED resource is worth a staggering 106.75x more than the "limited or uncertain quality and reliability" INFERRED !

OTC has 80.9% of their resource in the all important MEASURED & INDICATED categories. This is what makes OTC stand out from most of the other explorers. The importance of this cannot be stressed enough.

For example, CNR were a stellar performer ahead of their widely anticipated maiden JORC announcement recently, racing from around 0.4p to around 10.25p. They finally announced their maiden JORC of 868,000 Oz gold. This is more than OTCs 665,800 Oz gold. However, and most importantly, 100% of the CNR JORC was in the INFERRED (of limited or uncertain quality and reliability) and only worth 2.62m or 0.53p/share. On the day of the RNS, they had a mkt cap of 50.5m at 10.25p/share but only had gold worth 2.62m or 0.53p/share. The only reason the sp didn't completely collapse to around 1p was because, in the same RNS they said they were expecting to upgrade some of that INFERRED resource to the INDICATED category within the next 3 months without any further work. If it wasn't for this single comment it would have been disastrous. Even if one assumes they could transfer 50% of their INFERRED to the INDICATED category (and thats being generous) then, when they announce the upgrade in around 3 months time, the new Edison valuation would value CNR at around 32.79m or 6.3p/share:

CNR (assuming a generous 50/50 split):

INDICATED...434,000 Oz at $107.08/Oz...$48.49m (30.8m)...6.26p/share

INFERRED....434,000 Oz at $4.71/Oz.....$20.44m (1.99m)...0.04p/share

Another example is HUM. HUM have a current Canadian NI 43-101 resource of 812koz gold. This is directly comparable to a JORC according to Wiki.

http://en.wikipedia.org/wiki/National_Instrument_43-101

"The National Instrument 43-101 is broadly comparable to the Joint Ore Reserves Committee Code (JORC Code)"

"In many cases, NI 43-101 and JORC Code technical reports are considered inter-changeable"

Again, their gold of 812Koz sounds like its better than OTC's 665.8Koz gold. But because HUM do NOT have anything at all in the all important MEASURED category, then OTC actually has a far bigger value with less gold, ie OTC gold is worth 90.22m (mkt cap 38.3m at 2.21p) while HUMs gold is worth 31.58m (mkt cap of 87m). You do the maths.

Don't forget OTC also have a 5,403,200 Oz silver JORC. Again, the vast majority of OTCs silver is in the all important "Measured" & "Indicated" category.

On 12 Nov 10,Edison issued an Arian Silver update giving silver values of $13.7/oz Measured,$6.16/Oz Indicated, $0.88/Oz Inferred based on a silver price of $27.19/oz.

HOWEVER, the value of silver has now increased to $29.14/Oz, an increase of 7.2%. This gives up to date values of:

Measured....1,780,700..$14.68/Oz...$26,140,676.....16.74m...0.97p/share

Indicated...2,742,100..$6.60/Oz...$18,097,860.....11.59m....0.67p/share

Inferred....880,400....$0.94/Oz...$827,576......529,971

SUMMARY:

Mkt cap of 38.4m at 2,21p.

Cash of approx. 4.2m (including 500k VGM shares).

Current gold "in ground" is worth 90.22m or 5.2p/share.

Current silver "in ground" is worth 28.86m or 1.67p/share

Imminent upgrade to "in excess of 1moz" in "early January"

80.9% of the current resource is in the all important Measured and Indicated categories.

The current gold/silver and upgrade is only for 1.2km of their 6.5km strike this giving a potential 500% increase in resources to around 595m or 34.2p/share for just the 6.5km strike length alone.

The current gold/silver and upgrade does not include the south of the Kreminca mining licence area which "holds potential to host further significant resources".

The current gold/silver and upgrade does not include the 9 Slovakian licenses.

The current gold/silver and upgrade does not include the 77% owned Brazilian Iron Ore project.

There will be a "low cost ground magnetic survey" in early 2011 at the 77% owned Brazilian Iron Ore project.

The current gold/silver and upgrade does not include "Potential project additions" in an area of "world class deposits" in the "prolific gold region including Beregovo, Ukraine (4.5m oz), Rosia Montana, Romania (10.0m oz) and Chelopech, Bulgaria (5.0moz)"


These are my own personal opinions of course. You need to do your own research and reach your own conclusions. They may well be very different from mine."


In other words, OTCs silver "in ground" alone is currently worth 28.86m or 1.67p/share...and we haven't had the upgrade yet!

OTCs current "in ground" gold/silver resources are worth 119m (6.84p/share)...but they are based on only 1.2km of their 6.5km strike length at Kreminica. This is hugely important. Assuming they achieve a similar resource to the first 1.2km (and there is no reason why they couldn't)then this could result in a potential 500% increase to the Kremnica resource alone, ie 595m or 34.2p/share.

In the Optiva Research Note,dated 05 Jan 11, they gave a 6 month target of 3.45p....but this was based on the CURRENT known resource at Kremnica alone.

This target did NOT include:

1.....The imminent resource upgrade.

2.....The Brazilian iron ore project

3.....The 9 gold exploration licences in eastern Slovakia.

They said that the imminent resource upgrade (expected to be "in excess of 1Moz" in "early January) would "lead to a re-rating".

Optiva went on to say:

The Kremnica resource has "a high 80.9% is in the Measured and Indicated categories".

"the current resource statement includes only 1.2km of the known 6.5km strike length"

"Furthermore the management reckon that the exploration licence areas immediately to the south of the Kreminca mining licence area holds potential to host further significant resources."

Thats fantastic news. Not only are OTC expecting further significant resource upgrades from the remaining part of the 6.5km strike length as mentioned in 2 above, but OTC expect "further significant resource upgrades" from south Kremnica !

Zlata Bana, one of their 9 Slovakian exploration licenses "could be quickly converted from a Slovak to JORC code compliant resource of 360,000 to 500,000 ounces of gold equivalent in the Indicated and Inferred categories." It says they think this is "low grade" but advise progressing the project further to learn more about the mineralisation and project area".

"Ortac may look to add new interests in Slovakia and possibly elsewhere in Europe. Potential project additions are likely to made within the Carpatho‐Balkan metallogenic belt, that runs from Slovakia through eastern Europe to Turkey. As illustrated below, a number of world class deposits have been identified within this prolific gold region including Beregovo, Ukraine (4.5m oz), Rosia Montana, Romania (10.0m oz) and Chelopech, Bulgaria (5.0moz)." FANTASTIC !

The Brazilian iron ore project - "plans to conduct a low cost ground magnetic survey over the project area to identify potential areas for future drilling work in the early part of this year."

-----------------------------------------------------------

Certainly a good read, have held tmc for some time. would great if all comes true. cheers Gibby.

you are welcome bb

nice buys recently......

Date Time TradePrc Volume Trade PrcBuy/SellBidAskValue (approx)
17-Jan-11 16:31:52 2.30 2,500,000 Buy* 2.20 2.24 57.50k Trade Type:
Delayed publication
Historical (date is not today)

14-Jan-1113:01:52 2.32 10,000,000Buy* 2.20 2.24 232.00kTrade Type:
Delayed publication
Historical (date is not today)
Late reported

14-Jan-1110:01:11 2.33 8,000,000Buy* 2.20 2.24 186.40k


kerrrrrrrrchinnnnnnnggggggggggggggggg!! soon!

Time to buy ...........

Fibonacci retracement 61.8% @ 2.07p
The Fibonacci retracement has been reached at 2.07p, and the strong bounce should be now on. 61.8% Fibonacci retracement is a powerfull point in charting

The calculations for that are 2.98p intraday high and 1.50p intrady low ( before rising)

Chart done on the 6th January

Is motoring now already 2.24p above yesterday's close

a more recent Fibonacci of today >>>>>>>>>

was strong at the start and now moving higher once again

spread 2.50 / 2.55p +0.325p

yep a satisfactory day - more to come imo
gl

Yep, held up well today! tomorrow?

rns would be nice - lol!! have a good evening

Saturday, The Times, "Tiddler to watch":
"Canny punters were keeping a close eye on Ortac Resources, which rose 5 per cent, or 0.14p to 2.5p on AIM. The speculation is that the junior miner, which is looking for gold in Slovakia, would reveal on Monday that reserves are as much as 50 per cent greater than previous estimates of just shy of one million ounces of the precious metal."
Monday should be interesting.......

Well very good news, + 50% more Gold, Can't wait untill Mon, what sp can we exept 4-5-6-7-8p? Was very happy to read this in the Sat Times, made my weekend!

Now must dig out the wheel barrow ready to transport my winnings on Monday!!!

Up up and away Monday....

Yes, good news.
Been in since 1.6p so already in 50% profit...wished I'd bought a lot more!

Monday will be interesting... who knows what sp it'll be ... could even pull back on good news!,,,more likely to spike at 5-6pish i reckon (imho, DYOR)

good start to the day and no RNS. what price with an RNS?

Going places with volume 45M already

Last chance to get these at 2.85p!!
Hopefully RNS tomorrow!!

DJ Ortac Resources Limited Raises JORC Resource to 1.1Moz Au Eqv.

TIDMOTC

RNS Number : 0190A

Ortac Resources Limited

25 January 2011

Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration

25 January 2011

Ortac Resources Limited ('Ortac' or 'the Company')

Increases JORC Code Compliant Resource to 1.1 Moz Au Equivalent

Ortac Resources Limited (AIM: OTC), the AIM listed exploration and development company focussed on precious metal projects in Europe, is pleased to announce that Snowden Mining Industry Consultants (Pty) Ltd ('Snowden') has completed an updated mineral resource estimate for its wholly owned flagship Kremnica Gold Project in Slovakia ('Kremnica' or 'the Project'), which has increased the total JORC Code compliant resource to 1.1 Moz of gold equivalent ('Au Eq').

Highlights

-- Total gold equivalent resource increased by 323,000oz to 1.1 Moz Au at a 0.75 g/t Au cut-off;

-- Resource upgrade and remodelling provides the Company with a clearer understanding of the mineralisation of the Project ahead of the publication of a preliminary scoping study during the second half of 2011; and

-- Exploratory drilling to commence on wider Kremnica Mining Licence area focusing on existing and additional Au targets.

Ortac Resources Limited CEO Vassilios Carellas said, "This resource upgrade, which increases the total gold equivalent resource at Kremnica by over 40%, is a key milestone for Ortac as we move into our development phase on this highly prospective project. The Company can now focus on delineating further resources through its planned drilling campaign targeting 2 million ounces of gold equivalent ('Au Eq'), and commence the preliminary scoping study that should provide an outline for bringing the project into production."

A summary for the updated resource estimate for the Kremnica Gold project is tabulated below.

Table 1. Mineral Resource Estimate for the Kremnica Gold

project - 0.75 g/t Au cut-off grade

Quantity Grade Contained Metal
Au Au_Eq
Resource Tonne Au Ag Au_Eq (k Ag (k (k
Category (kT) Density (g/t) (g/t) (g/t) oz) oz) oz)
Measured 1,600 2.11 1.84 15.1 2.14 96 790 111
----------- ------- -------- ------ ------ ------- ----- ------ ------
Indicated 6,700 2.21 1.86 15.6 2.17 400 3,353 467
----------- ------- -------- ------ ------ ------- ----- ------ ------
Meas. +
Indic. 8,300 2.19 1.85 15.5 2.16 495 4,143 579
----------- ------- -------- ------ ------ ------- ----- ------ ------
Inferred 9,100 2.29 1.51 11.2 1.74 443 3,284 508
----------- ------- -------- ------ ------ ------- ----- ------ ------
Total 17,400 2.24 1.68 13.3 1.94 938 7,427 1,086
----------- ------- -------- ------ ------ ------- ----- ------ ------

1. Tonnes rounded to 2 significant figures. Ounces rounded

to 3 significant figures

2. Rounding of numbers can result in small discrepancies

in the table

3. Au Eq. (Gold Equivalent) has been calculated for each

block with Au Eq. Ratio of 50 parts Ag for every 1 part

Au. This is based on LME values: Au $1344 per ounce, Ag

$27.14 per ounce (24/01/2011)

4. The figures in the table above are gross and net, ie

100% attributable to the holder

5. The holder/ operator of this asset is Kremnica Gold

Mining, ie a 100% subsidiary of Ortac Resources Limited

Further Information

The Kremnica Mineral Resource estimate is in accordance with the widely accepted international reporting standard as defined using the December 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, prepared by the Joint Ore Reserves Committee of the Australian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia ('JORC Code').

The resource has been estimated by Snowden Mining Industry Consultants ('Snowden'), and been tabulated above block model cut-offs of 0.5 g/t Au 0.75 g/t Au and 1.0 g/t Au. The Mineral Resource has been classified by Snowden as Measured, Indicated and Inferred according to the JORC Code and is based on interpretations and data supplied by Ortac.

Table 2. Grade-tonnage reports - 0.5 g/t Au, 0.75 g/t Au and 1.0 Au g/t cut-off grades

Au Au
Tonnes Au Ag Eq. Au Ag Eq.
Cut-off Category (kT) (g/t) (g/t) (g/t) (koz) (koz) (koz)
--------- ---------- ------- ------ ------ ------ ------ ------ ------
0.5
g/t Meas. &
Au Ind. 9,000 1.76 14.8 2.05 510 4,296 596
--------- ---------- ------- ------ ------ ------ ------ ------ ------
Inf. 13,500 1.22 9.0 1.40 529 3,902 607
-------------------- ------- ------ ------ ------ ------ ------ ------
Total 22,500 1.44 11.3 1.66 1,039 8,198 1,203
-------------------- ------- ------ ------ ------ ------ ------ ------

Au Au
Tonnes Au Ag Eq. Au Ag Eq.
Cut-off Category (kT) (g/t) (g/t) (g/t) (koz) (koz) (koz)
--------- ---------- ------- ------ ------ ------ ------ ------ ------
0.75
g/t Meas. &
Au Ind. 8,300 1.85 15.5 2.16 495 4,143 579
--------- ---------- ------- ------ ------ ------ ------ ------ ------
Inf. 9,100 1.51 11.2 1.74 443 3,284 508
-------------------- ------- ------ ------ ------ ------ ------ ------
Total 17,400 1.68 13.3 1.94 938 7,427 1,086
-------------------- ------- ------ ------ ------ ------ ------ ------

Au Au
Tonnes Au Ag Eq. Au Ag Eq.
Cut-off Category (kT) (g/t) (g/t) (g/t) (koz) (koz) (koz)
--------- ---------- ------- ------ ------ ------ ------ ------ ------
1.0
g/t Meas. &
Au Ind. 7,400 1.98 16.4 2.30 469 3,893 547
--------- ---------- ------- ------ ------ ------ ------ ------ ------
Inf. 6,600 1.75 13.0 2.01 375 2,791 431
-------------------- ------- ------ ------ ------ ------ ------ ------
Total 14,000 1.87 14.8 2.17 845 6,684 978
-------------------- ------- ------ ------ ------ ------ ------ ------

1. Tonnes rounded to 2 significant figures. Ounces to 3 significant figures

2. Rounding of numbers can result in small discrepancies in the table

3. Au Eq. (Gold Equivalent) has been calculated for each block with an Au Eq. ratio of 50 parts Ag for every 1 part Au. This is based on LME values: Au $1344 per ounce, Ag $27.14 per ounce (24/1/2011)

4. The figures above are gross and net, i.e. 100% attributable to the holder, Kremnica Gold Mining s.r.o., a 100% subsidiary of Ortac Resources Limited.

5. The holder/ operator of this asset is Kremnica Gold Mining, ie a 100% subsidiary of Ortac Resources Limited.

Snowden's grade-tonnage estimate used data from the sampling of adits, surface and underground diamond drill core, surface reverse circulation and trench samples. The database was compiled and verified by Ortac. Snowden's checks indicate that the data is of sufficient quality to support the resource classifications applied.

Multiple Indicator Kriging was used to estimate the gold and silver grades into a block model constrained by the Ortac geological interpretation. This model reflects the interpreted structure and geology. Search ellipse and ranges used in estimation reflect the spatial continuity and trends of the mineralisation in each of the mineralised domains.

Snowden based the classification of the Mineral Resource upon a number of criteria, including the confidence in the geological interpretation, the integrity of the data, the spacing between the data, the grade continuity as demonstrated by the variography. The resource estimate has been classified using the guidelines of the JORC Code (2004).

The information in this report that relates to Mineral Resources as defined under the JORC Code is based on information compiled by Mr Vassilios Carellas (who takes responsibility for the data and geological interpretation) and Mr Ivor Jones (who takes responsibility for the estimation).

Mr Ivor Jones, (BSc (Hons), MSc, FAusIMM, CPgeo), is the Group General Manager of Geosciences at Snowden and produced the resource estimate based upon the data and interpretations provided by Ortac. Mr Jones has sufficient experience relevant to the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined under the JORC Code. Mr Jones consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

Mr Vassilios Carellas (BSc (Hons), MAusIMM) is the Chief Executive Officer of Ortac Resources Limited and provided the sample database as well as geological interpretations for the Mineral Resource estimation. Mr Carellas has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined under the JORC Code. Mr Carellas consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

**ENDS**

(MORE TO FOLLOW) Dow Jones Newswires

25-01-11 0700GMT

For further information please visit www.ortacresources.com or contact:

Vassilios Carellas Ortac Resources Ltd +44 (0) 20 7440
0646
Charles Wood Ortac Resources Ltd +44 (0) 20 7440
0646
Roland Cornish Beaumont Cornish Limited +44 (0) 20 7628
3396
Rosalind Hill Abrahams Beaumont Cornish Limited +44 (0) 20 7628
3396
Jeremy Stephenson Seymour Pierce Limited +44 (0) 20 7107
8072
Stewart Dickson Seymour Pierce Limited +44 (0) 20 7107
8335
Jeremy King Optiva Securities Ltd +44 (0) 20 3137
1904
Jason Robertson Optiva Securities Ltd +44 (0) 20 3137
1906
Susie Geliher St Brides Media & Finance +44 (0) 20 7236
Ltd 1177
Lottie Brocklehurst St Brides Media & Finance +44 (0) 20 7236
Ltd 1177

Notes:

Ortac Resources Limited is an AIM listed exploration and development company focussed on the development of precious metal projects in Europe. Its focus is on the Carpatho-Balkan Metallogenic Belt, initially the Central Slovakian Volcanic Field, where its Kremnica gold deposit forms part of a large low-sulphidation quartz-sericite-adularia epithermal-hydrothermal system hosted in Tertiary andesite volcanic flows, tuffs, lesser diorites and rhyolite dikes. The Company has produced an interim JORC compliant resource statement of 1.1 million ounces of gold equivalent and has appointed Snowden Mining Industry Consultants Pty to prepare a preliminary scoping study which is expected during the course of the year.

The Company's objective is to complete a definitive feasibility study and environmental impact assessment with a view of bringing the Kremnica Gold Project into production. The Company's strategy is to utilise its highly experienced board and management team and its solid foothold in Central Europe to consolidate additional precious metal development opportunities to build shareholder value.

Glossary

"adit" a nearly horizontal passage from the surface by which a mine is entered, dewatered or mined;

"Ag" the chemical symbol for the element silver;

"andesite" a volcanic rock of intermediate composition characteristic of the basalt-andesite-dacite-rhyolite association and the extrusive equivalent of a diorite;

"Au" the chemical symbol for the element gold;

"Au Eq" gold equivalent;

"core drilling" the process of obtaining cylindrical rock samples by means of annular-shaped rock-cutting bits rotated by a borehole-drilling machine;

"cut-off grade" the lowest grade of mineralized material considered economic; used in the calculation of the ore reserves in a given deposit;

"diorite" intermediate, coarse-grained igneous rock with up to 10% quartz;

"epithermal" vein deposit formed at shallow depths from unstable hot solutions;

"grade" the relative quantity or the percentage of ore-mineral or metal content in an orebody;

"hydrothermal" the name given to any processes associated with igneous activity which involve heated or superheated water;

"Indicated (Mineral) Resource" that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed;

"Inferred (Mineral) Resource" that part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be limited or of uncertain quality and reliability;

"JORC" the code for reporting of the Australasian Joint Ore Reserves Committee, which is sponsored by the Australian mining industry and its professional organisations. The code is widely accepted as a standard for professional reporting purposes for reporting of mineral resources and ore reserves;

"Kriging" a method of interpolation which predicts unknown values from data observed at known locations. It uses the variogram to express spatial variation, and minimizes the error of predicted values that are estimated by spatial distribution of the predicted values;

"low sulphidation" a type of epithermal mineral deposit formed from low temperature magmatic fluids;

"Measured (Mineral) Resource" that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a high level of confidence. It is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are spaced closely enough to confirm geological and grade continuity;

"orebody" continuous, well-defined mass of material of sufficient ore content to make extraction economically feasible;

"oz(s) ounce" Troy ounce - 1 ounce is equal to 31.1034807 grammes;

"resource (mineral)" a concentration or occurrence of material of intrinsic economic interest in or on the Earth's crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories;

"rhyolite" a fine-grained acidic volcanic rock compositionally equivalent of a granite;

"specific gravity" the ratio of the weight of a substance to the weight of an equal volume of water;

"trench" a long, narrow excavation dug through overburden, or blasted out of rock, to expose a vein or ore structure;

"tuff" a general term for all consolidated pyroclastic rocks;

"vein" a tabular deposit of minerals occupying a fracture, in which particles may grow away from the walls toward the middle;

"wireframe" a visual model of an electronic representation of a three-dimensional object;

This information is provided by RNS

The company news service from the London Stock Exchange

END
DRLFMGZMVKRGMZG

(END) Dow Jones Newswires

25-01-11 0700GMT


ntd909 - 25 Jan'11 - 07:04 - 1720 of 1721


Get in!!!!! What a result! =)

silverfern - 25 Jan'11 - 07:05 - 1721 of 1721


A 40% upgrade and a tad over what most expected. NOte they are looking to find 2million ounces in total. it is the scoping study by the way that management said would be completed in Q1 so we can look soon to understand how the gold will be obtained though open pit will do for most of

Fantastic.....this is what we have been waiting for!!
Where will the price end up today.........4p anybody??

lol kerrrchinnnnnnnnnnnnnggggggggggggggggg!!