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Lutila Exploration Licence

The Lutila Licence is 64.83sq km and is located immediately to the south of the Kremnica licence. It has not yet been explored in detail but shows prospectivity for a new bonanza style Au/Ag mineralisation.

Potential

The Licence is situated on the northwest portion of the Carpathian Metallogenic belt, a prolific mineral region known for historic metal mining. Lutila itself lies directly between the Kremnica deposit to the north and the Banska Štiavnica orefield to the south.

The geothermal systems of the type identified at Lutila are renowned for their potential for bonanza style epithermal Au/Ag mineralisation at some depth beneath the palaeolandsurface.

The Kremnica Deposit is thought to have formed from hydrothermal fluids brought in by rhyolitic dykes. Gold deposition was a result of boiling of the hydrothermal fluids at 200m below the palaeolandsurface. The rhyolites of the Lutila Licence are coeval with those at Kremnica and the flow-dome structures exposed on-surface are rooted in rhyolite dykes at depth.

Exploration history

Exploration completed to date has been largely for bentonite, mostly to 40 metres below the palaeolandsurface.

Soil geochemistry shows focused anomalism in the gold-pathfinder elements typically associated with epithermal gold, namely As, Sb, Hg and TI.

Licence-wide mapping can define the main exhalative centres and hydrothermal pathways. Historical records indicate the presence of gold mineralisation in the Heritage Adit running underneath the Lutila Licence, at the depth beneath the palaeolandsurface predicted by the exploration model.

A ground-based geophysical survey in 2011 identified:

  • 14 anomalous zones for follow-up diamond drilling
  • At least six considered to be first priority targets ranging in depths from sub-surface to greater than 650m
  • A further four classified as second priority targets with similar depth ranges

Drilling

Condemnation drilling associated with the Kremnica deposit intersected 22.4m @ 0.34g/t Au

Scout drilling identified 33m @ 0.86g/t Au in the strongly brecciated margin of a rhyolite dyke

Outlook

Ortac is actively seeking exploration JV partners in order to further explore and develop the Lutila license.