Approval of Preliminary Environmental Report

Ortac Resources Limited

20 December 2013

 



20 December 2013

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

Approval of Preliminary Environmental Report ('PER')

Ortac Resources Ltd, the AIM listed exploration and development company focussed on natural resource based projects, is pleased to announce the approval of a Preliminary Environmental Report in support of its proposed application for trial underground mining at the Šturec deposit near Kremnica- the application was submitted to the Slovak Regional Environmental Office in Banská Štiavnica, as per the announcement made on 21 October 2013. 

This approval clears the way for the Slovak District Mining Bureau to review the company's application to mine 1,000 tonnes per year of high-grade gold and silver ores from the existing underground development.

As part of its commitment to adhere to the fullest and most transparent dialogue with stakeholders, Ortac is now fully engaged with the Mining Bureau and other relevant authorities, as well as the wider public in respect of both its surface and its underground applications.

Based upon experience elsewhere, the Directors believe that opposition to the approval process may arise as a result of the above mentioned decision. This is a strategy commonly deployed by non-governmental organisations and other groups with the intention of forcing more transparent and hence more sustainable decisions.

Ortac Resources CEO Vassilios Carellas said, "Ortac is pleased at the progress made with this application and welcomes actions that might lead to greater transparency and clarification of issues in public.  Moreover, Ortac will do everything it can to ensure that the discussions and the findings arising from such actions are made freely available".

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

Vassilios Carellas                   Ortac Resources Ltd                            Tel: [phone]

Charles Wood                        Ortac Resources Ltd                             Tel: [phone]

Stewart Dickson                     Cantor Fitzgerald Europe                      Tel: [phone]

Catherine Leftley                   Cantor Fitzgerald Europe                      Tel: [phone]

Jeremy Stephenson                Cantor Fitzgerald Europe                      Tel: [phone]

Caspar Shand-Kydd                 RFC Ambrian Limited                           Tel: [phone]

Jen Boorer                               RFC Ambrian Limited                           Tel: [phone]

 

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