-
Assays from five more holes at Pepas. Best results include:
-
PEP028 - 31.35m @ 1.61 g/t Au
-
PEP032 - 92m @ 1.68 g/t Au from surface
including 11.85m @ 6.84 g/t Au and7.7m @ 5.05 g/t Au
-
Channel sampling at North Pepas expands high grade anomalous zone, best surface sample of 27.23 g/t Au.
-
Access to North Pepas complete - drilling to commence soon.
-
Soil sampling at El Cedro underway
LONDON, UNITED KINGDOM / ACCESS Newswire / April 23, 2025 / Orosur Mining Inc. ("Orosur" or the "Company") (TSXV:OMI) (AIM:OMI), is pleased to announce an update on the progress of exploration activities at the Company's flagship Anzá Project ("The Project") in Colombia.
Colombia - ANZÁ Project
The Anzá Project is now 100% owned by the Company following completion of a Share Purchase Agreement ("SPA"), announced 28th November 2024, whereby the Company purchased all of the shares of its previous JV partner; Minera Monte Aguila ("MMA").
The Project, which is located 50km west of Medellin, is easily accessible and boasts excellent infrastructure including water, power and communications as well as a large exploration camp.
The Project sits within the prolific mid-Cauca belt, Colombia's primary gold belt, and is located along strike between several world class gold/copper deposits including Buritica, Quebradona and Guayabales/Marmato (Figure 1).
From September 2018 to November 2024, the Anzá Project was under the control of its previous JV partner MMA, itself a 50/50 venture between the world's two largest gold miners, Agnico Eagle Mines and Newmont Mining.
Figure 1. Mid-Cauca Belt
Most drilling conducted to date by the Company has focussed on a central, high-grade core around the first discovery holes. This has been an intentional strategy based on several rationale:
-
To understand the mineralisation and its litho-structural controls.
-
To allow time for surface mapping and sampling to expand the anomalous zone and provide targets.
-
To allow time for permits and physical access to be developed to other parts of the prospect.
-
To examine the potential of moving a small part of Pepas to resource status which could be beneficial in the context of the Colombian permitting system and a pre-existing environmental exploitation permit over part of these licences.
|
Hole Number |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
|
PEP028 |
29.5 |
60.85 |
31.35 |
1.61 |
|
including |
31.45 |
39.3 |
7.85 |
2.12 |
|
including |
55.75 |
60.85 |
5.1 |
3.21 |
|
PEP029 |
0 |
30.7 |
30.7 |
0.31 |
|
34.6 |
42.5 |
7.9 |
0.42 |
|
|
PEP030 |
0 |
77.9 |
77.9 |
0.31 |
|
115.6 |
122.8 |
7 |
0.31 |
|
|
PEP031B |
28.15 |
41.1 |
12.95 |
0.73 |
|
74.1 |
794.9 |
20.8 |
0.30 |
|
|
PEP032 |
0 |
92 |
92 |
1.69 |
|
including |
0 |
66.7 |
66.7 |
2.26 |
|
including |
2 |
13.85 |
11.85 |
6.84 |
|
Including |
32.1 |
39.8 |
7.7 |
5.05 |
Table 1. Latest drill Intercepts, Pepas
North Pepas
Surface ridge and spur soil sampling undertaken previously by MMA, had identified a large, highly anomalous region to the north of the current Pepas mineralisation. The Company has been following up this work with more targeted and diagnostic channel sampling along tracks or other exposures, looking to sample and assay in-situ saprolite or fresh rock (where present). Such exposures are rare in the Pepas area due to soil cover and can be difficult to locate through thick vegetation.
Results from one large channel sample undertaken by the Company, some 200m north of the current extent of drilling were announced on 4th February 2025, returning 105m @ 1.15 g/t Au, with some individual samples exceeding 5 g/t Au.
Work on the area began some years ago before Orosur's tenure, when Anglo American undertook reconnaissance mapping and sampling, identifying a highly prospective gold/copper porphyry system.
Little work was then undertaken until late 2021, when the Company's previous JV partner MMA re-entered the area to carry out mapping, sampling and ground geophysics that largely confirmed Anglo American's previous work and mapped several large dioritic intrusions and associated epithermal systems. Sampling was limited to creeks and drainages, and several small areas in the centre of the zone. However, wide areas of gold anomalism were identified in soils and channel samples, with assays above 5g/t Au identified across a large area, with associated copper and molybdenum anomalism (Figure 7).
Older airborne magnetic data suggests the presence of a large intrusive complex demonstrating a "ring" structure, often seen in such environments.
Several weeks ago, the Company commenced a large-scale ridge and spur soil sampling program covering most of what is thought to be the extent of the porphyry system, with a view to confirming and extending the previous work and if positive, to move toward drill targets in the medium term.
The sampling program is currently approximately 25% complete, with work expected to continue into May. In addition, teams have identified several abandoned artisanal tunnels across the prospect. Where safe to do so, some tunnels have been mapped and sampled, identifying a number of intrusive related epithermal vein systems.
Due to the requirement for more complex assay techniques not available in Colombia, samples are being first assayed for gold via fire assay in Medellin, before being sent to Canada for full multi-element analysis.
Results are thus expected to start becoming available within weeks.
|
Hole Number |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
|
PEP012 |
0 |
66.75 |
66.75 |
5.64 |
|
PEP013 |
0 |
77.30 |
77.30 |
7.68 |
|
PEP014 |
0 |
75.1 |
75.1 |
5.58 |
|
PEP015 |
23.5 |
63.7 |
40.2 |
3.75 |
|
PEP016 |
61.6 |
105.3 |
43.7 |
3.13 |
|
PEP017 |
56.1 |
96.3 |
40.2 |
2.06 |
|
PEP018 |
0 |
54.1 |
54.1 |
6.01 |
|
PEP019 |
0 |
44.3 |
44.3 |
1.63 |
|
PEP020 |
0 |
54.65 |
54.65 |
1.94 |
|
PEP021 |
0 |
107.05 |
107.05 |
6.22 |
|
PEP022 |
0 |
76.3 |
76.3 |
7.24 |
|
PEP023 |
0 |
15 |
15 |
1.7 |
|
PEP024 |
9.24 |
15.6 |
6.35 |
1.99 |
|
PEP025 |
0 |
10.1 |
10.1 |
1.45 |
|
16.5 |
79 |
62.5 |
5.4 |
|
|
PEP026 |
0 |
14.8 |
14.8 |
0.57 |
|
43.6 |
72 |
28.4 |
2.52 |
|
|
PEP027 |
1 |
80.15 |
79.15 |
2.0 |
|
PEP028 |
29.5 |
60.85 |
31.35 |
1.61 |
|
PEP029 |
0 |
30.7 |
30.7 |
0.31 |
|
PEP030 |
0 |
77.9 |
77.9 |
0.32 |
|
115.6 |
122.6 |
7 |
0.31 |
|
|
PEP031B |
28.15 |
41.1 |
12.95 |
0.73 |
|
74.1 |
95.9 |
20.8 |
0.3 |
|
|
PEP032 |
0 |
92 |
92 |
1.68 |
Table 2. Results to date, post MMA transaction
Orosur CEO Brad George commented:
"The Anzá Project is progressing well, with Pepas continuing to be defined and new fronts being opened northward of Pepas, and to the south at El Cedro."
For further information, visitwww.orosur.ca, follow on X @orosurm or please contact:
Orosur Mining Inc
Louis Castro, Chairman,
Brad George, CEO
info@orosur.ca
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP - Nomad & Joint Broker
Jeff Keating / Jen Clarke / Devik Mehta
Tel: +44 (0) 20 3470 0470
Turner Pope Investments (TPI) Ltd - Joint Broker
Andy Thacker/James Pope
Tel: +44 (0)20 3657 0050
Flagstaff Communications and Investor Communications
Tim Thompson
Mark Edwards
Fergus Mellon
Tel: +44 (0)207 129 1474
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Drill Hole Details - Pepas prospect 2022/2024 Programme*
|
Hole ID |
Easting (m) |
Northing (m) |
Elevation asl (m) |
Dip (°) |
Azimuth (°) |
|
PEP-001 |
403384 |
705000 |
1001 |
-50 |
150 |
|
PEP-002 |
403384 |
705000 |
1001 |
-60 |
290 |
|
PEP-003 |
403240 |
705142 |
1001 |
-49.60 |
95.2 |
|
PEP-004 |
403508 |
705671 |
838 |
-59.8 |
99.8 |
|
PEP-005 |
403373 |
704990 |
1008 |
-49.8 |
94.6 |
|
PEP-007 |
403374 |
704990 |
1008 |
-69.9 |
170 |
|
PEP-008 |
403232 |
704803 |
971 |
-50 |
60 |
|
PEP-009 |
403032 |
705057 |
1055 |
-50 |
80 |
|
PEP-010 |
403375 |
705106 |
982 |
-50.31 |
190.4 |
|
PEP-011 |
403573 |
704939 |
1001 |
-50.3 |
255 |
|
PEP-012 |
403415 |
704890 |
997 |
-56 |
352 |
|
PEP-013 |
403413 |
704887 |
997 |
-50 |
43 |
|
PEP-014 |
403400 |
704910 |
1007 |
-50 |
43 |
|
PEP-015 |
403375 |
704938 |
1017 |
-50 |
43 |
|
PEP-016 |
403326 |
704912 |
999 |
-50 |
43 |
|
PEP-017 |
403365 |
704848 |
976 |
-40 |
47 |
|
PEP-018 |
403345 |
704851 |
977 |
-45 |
43 |
|
PEP-019 |
403446 |
704890 |
991 |
-45 |
43 |
|
PEP-020 |
403446 |
704890 |
991 |
-75 |
43 |
|
PEP-021 |
403424 |
704935 |
1012 |
-62 |
223 |
|
PEP-022 |
403424 |
704935 |
1012 |
-42 |
223 |
|
PEP-023 |
403245 |
704927 |
969 |
-50 |
43 |
|
PEP-024 |
403245 |
704927 |
969 |
-78 |
43 |
|
PEP-025 |
403369 |
704888 |
1001 |
-45 |
43 |
|
PEP-026 |
403339 |
704955 |
1008 |
-63 |
50 |
|
PEP-027 |
403468 |
704909 |
1003 |
-46 |
228 |
|
PEP-028 |
403398 |
704957 |
1012 |
-58 |
223 |
|
PEP-029 |
403311 |
705018 |
1011 |
-50 |
50 |
|
PEP-030 |
403311 |
705018 |
1011 |
-50 |
000 |
|
PEP-031B |
403486 |
704901 |
998 |
-52 |
220 |
|
PEP-032 |
403431 |
704861 |
982 |
-60 |
15 |
* Coordinates WGS84, UTM Zone 18
About Orosur Mining Inc.
Orosur Mining Inc. (TSXV: OMI; AIM: OMI) is a minerals explorer and developer currently operating in Colombia, Argentina and Nigeria.
About the Anzá Project
Anzá is a gold exploration project, comprising three exploration licences, several small exploitation permits and a large number of licence applications, totalling 399km2, in the prolific Mid-Cauca belt of Colombia.
The Anzá Project is currently wholly owned by Orosur via its subsidiaries, Minera Anzá S.A. and Minera Monte Aquila S.A.S.
The project is located 50km west of Medellin and is easily accessible by all-weather roads and boasts excellent infrastructure including water, power, communications and large exploration camp.
Qualified Persons Statement
The information in this news release was compiled, reviewed and verified by Mr. Brad George, BSc Hons (Geology and Geophysics), MBA, Member of the Australian Institute of Geoscientists (MAIG), CEO of Orosur Mining Inc. and a qualified person as defined by National Instrument 43-101.
Orosur Mining Inc. staff follow standard operating and quality assurance procedures to ensure that sampling techniques and sample results meet international reporting standards.
All drill core is HQ.
Drill core is split in half over widths that vary between 0.3m and 2m, depending upon the geological domain. One half is kept on site in the Minera Anzá core storage facility, with the other sent for assay.
Industry standard QAQC protocols are put in place with approximately 10% of total submitted samples being blanks, repeats or Certified Reference Materials (CRMs).
Samples for holes PEP-001 to PEP-011 were sent to the Medellin preparation facility of ALS Colombia Ltd, and then to the ISO 9001 certified ALS Chemex laboratory in Lima, Peru.
Samples from PEP-012 onwards are sent to Medellin laboratory of Actlabs for preparation and assay.
30 gram nominal weight samples are then subject to fire assay and AAS analysis for gold with gravimetric re-finish for overlimit assays of >5 g/t. ICP-MS Ultra-Trace level multi-element four-acid digest analyses may also undertaken for such elements as silver, copper, lead and zinc, etc.
Gold intersections are reported using a lower cut-off of 0.3g/t Au over 3m. Intersections are quoted as downhole thicknesses. True thicknesses are unknown.
Forward Looking Statements
All statements, other than statements of historical fact, contained in this news release constitute "forward looking statements" within the meaning of applicable securities laws, including but not limited to the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and are based on expectations estimates and projections as of the date of this news release.
Forward-looking statements include, without limitation, the continuing focus on the Pepas prospect, the exploration plans in Colombia and the funding of those plans, and other events or conditions that may occur in the future. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such forward-looking statements. Such statements are subject to significant risks and uncertainties including, but not limited to, those described in the Section "Risks Factors" of the Company's MD&A for the year ended May 31, 2024. The Company's continuance as a going concern is dependent upon its ability to obtain adequate financing, to reach profitable levels of operations and to reach a satisfactory closure of the Creditor´s Agreement in Uruguay. These material uncertainties may cast significant doubt upon the Company's ability to realize its assets and discharge its liabilities in the normal course of business and accordingly the appropriateness of the use of accounting principles applicable to a going concern. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events and such forward-looking statements, except to the extent required by applicable law.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
