Orosur Mining Inc - Colombia update
Orosur Mining Inc - Colombia update
• Assays from four additional holes - MAP- 097, 098, 099, 100.
• High grade gold intersections - 6.06m @ 2.72g/t Au, 14.2m @ 1.84 g/t Au,
8.35m @ 14.27 g/t Au, and 59.15m @ 0.91 g/t Au.
• Including a potential new area at depth in Anza.
• High-grade rock samples in new southern targets.
• Plans and permitting advancing for drilling new targets
London, March 8th, 2022 . Orosur Mining Inc. ("Orosur" or the
"Company") (TSXV/AIM:OMI), is pleased to announce an update on the progress of
exploration activities at the Company's flagship Anzá Project ("Project") in Colombia.
As previously announced, Monte Águila (the JV between Newmont Corporation and
Agnico Eagle Mines Limited) assumed control of the Project in Q4 2021 after a major
10,000m drilling program which saw up to five drill rigs operating at Anza. During the
hand ov er process, all drill rigs demobilised as part of a planned changeover to a
different drill contractor and rig design (man portable) . One new rig was mobilised to
focus on drilling regional and deep stratigraphic holes in order to test a variety of
geological concepts to assist future targeting.
With drilling wound back, geological effort shifted to regional mapping and sampling
at t he northern and southern extremes of the Project that could not be previously
reached due to Covid-19 related restrictions on personnel movement.
Results from these activities are extremely positive and several high priority prospects
have been defined. It is expected that drilling activities will soon resume once the
required permitting has been completed.
For the full PDF version of the announcement with Figures 1-4 included, please refer
to:
http://www.rns-pdf.londonstockexchange.com/rns/9387D_1-2022-3-7.pdf
Drilling
Assay results for four diamond drillholes have been received from the ALS laboratory
in Lima, Peru - MAP-097, 098, 099 and 100. Key intersections are noted below.
MAP-097 4.35m @ 1.63g/t Au, 2.00g/t/Ag, 0.71% Zn
MAP-098 6.05m @ 2.72g/t Au, 3.01g/t Ag, 0.74%Zn
14.2m @ 1.84g/t Au, 3.57 g/t Ag. 0.59% Zn
8.36m @ 14.27g/t Au, 49.92g/t Ag, 3.93% Zn
MAP-100 59.15m @ 0.91g/t Au, 3.88g/t Ag, 0.39% Zn
Full results are noted below.
Hole Number From (m) To (m) Interval
(m) Au (g/t) Ag (g/t) Zn (%)
MAP097 242.90 253.75 10.85 0.46 2.24 0.20
including 243.75 244.70 0.95 1.21 15.90 0.40
MAP097 258.05 260.50 2.45 0.62 1.97 0.06
MAP097 262.40 276.50 14.10 0.75 1.21 0.31
including 263.70 268.05 4.35 1.64 2.00 0.71
MAP097 307.20 351.10 43.90 0.24 2.65 0.09
MAP097 370.20 373.45 3.25 0.24 1.94 -
MAP097 393.70 396.95 3.25 0.24 1.87 -
MAP098 64.35 67.85 3.50 0.38 3.36 -
MAP098 216.10 217.60 1.50 0.82 1.01 0.01
MAP098 268.05 274.10 6.05 2.72 3.02 0.74
including 270.05 270.45 0.40 16.75 8.12 0.55
including 272.75 273.10 0.35 13.2 7.58 0.20
MAP098 288.20 292.80 4.60 1.68 5.39 2.56
including 290.10 292.25 2.15 3.16 5.99 2.31
including 290.10 290.55 0.45 5.81 5.04 2.73
including 291.55 291.90 0.35 5.61 3.28 2.82
MAP098 315.20 329.40 14.20 1.84 3.57 0.59
including 315.20 316.70 1.50 7.33 24.92 4.42
including 319.90 322.45 2.55 4.08 1.40 0.13
MAP098 349.15 353.60 4.45 0.45 0.67 0.06
MAP098 366.35 374.70 8.35 1.03 2.96 0.14
including 369.95 374.10 4.15 1.53 3.23 0.26
MAP098 508.00 508.60 0.60 7.22 4.81 3.00
MAP098 509.30 509.85 0.55 1.65 1.02 0.78
MAP098 515.30 515.75 0.45 8.32 4.01 1.04
MAP098 516.55 520.00 3.45 0.27 1.17 -
MAP098 524.25 532.60 8.35 14.27 49.92 3.94
including 525.25 528.70 3.45 29.78 115.01 6.31
including 526.95 528.70 1.75 46.19 220.4 9.67
including 530.45 532.60 2.15 7.10 7.12 4.91
including 531.90 532.60 0.70 14.10 5.62 5.41
MAP098 537.85 538.55 0.70 0.90 0.65 -
MAP098 539.35 543.50 4.15 0.25 1.26 -
MAP098 555.25 557.90 2.65 0.85 1.30 0.92
MAP098 559.10 560.05 0.95 0.53 1.09 0.92
MAP098 561.95 563.10 1.15 2.86 1.38 0.66
including 562.25 562.60 0.35 7.33 2.46 1.61
MAP098 593.40 594.35 0.95 0.98 2.58 1.12
MAP098 660.90 672.60 11.70 0.51 1.89 0.01
including 667.95 669.20 1.25 1.98 2.26 0.01
MAP099 No significant results
MAP100 190.90 192.10 1.20 2.51 29.20 0.26
MAP100 195.9 202.45 6.55 0.91 12.3 0.11
including 196.65 199.25 2.6 1.5 19.85 0.06
including 196.65 197.45 0.8 2.33 22.4 0.07
MAP100 226.75 228.45 1.7 2.31 1.37 0.39
including 227.5 228.45 0.95 3.56 1.80 0.65
including 227.5 227.9 0.4 4.98 2.08 0.63
MAP100 243.6 302.75 59.15 0.91 3.89 0
including 255.85 258.95 3.1 1.39 2.74 0.50
including 262.6 265.5 2.9 8.72 8.72 3.80
including 264.4 264.8 0.4 20.10 8.28 2.45
including 264.8 265.5 0.7 9.01 6.27 8.47
including 297.25 300.45 3.2 1.83 4.35 0.41
including 299.4 299.85 0.45 4.95 8.55 1.32
MAP100 312.6 319.35 6.75 0.26 3.01 0.04
Table 1. Drill Intercepts.
Fig 1. Plan of drill collar locations
MAP-097 and MAP-098
Holes MAP-097 and 098 (Fig. 2) were a pair of deep scissor holes drilled from
opposing directions to depths of 647m and 696m, respectively at APTA.
The dual objective of these two holes were largely stratigraphic, to assess
geology at depth and to continue to examine the geological concept of the main
mineralised horizons folding over as an anticline.
These holes would seem to have confirmed the folding hypothesis, but of most
interest was the intersection in MAP -098 of a previously unknown, thick, high -
grade structure (8.35m @ 14.27g/t Au, 49.92g/t Ag, 3.93%Zn), over 100m
below any previous anomalous intersections, with an additional lower grade
intersection over 100m further down again. The considerable distance from
previous drilling is highly encour aging as it opens up large areas at depth as
being potentially of interest, however, more drilling will now be required t o
confirm this.
Fig 2. Holes MAP-097 and 098
MAP-099
MAP-099 (depth 418m) was drilled to the west of APTA, largely as a
stratigraphic hole to define the local geology in order to assist in future
work. No significant assays were returned, but the hole provided substantial
geological information.
MAP-100
MAP-100 (depth 360m) (Fig. 3) was drilled to provide greater geological context
to high-grade results previously intersected in MAP-089.
The hole was successful in confirming previous results, but also demonstrated
a very thick zone of lower grade mineralisation returning 59.15m @ 0.91g/t Au,
3.88g/t Ag, 0.39% Zn, which included higher grade zones of gold and base
metals.
Fig 3. Hole MAP-100
Surface work - mapping and sampling
Following completion of the initial 10,000m drill program in Q3 2021, and the
operational handover of the Project, the focus of geological work shifted to regional
mapping and sampling. The objective of this wor k was to define high quality targets
that co uld be drilled once Covid -19 had abated and free movement of staff could
resume.
As shown in Fig 4, recent work has delineated highly anomalous results in the NE
granted tenements at Pupino and Pepas, with multiple rock chip assays over extensive
areas, returning results in excess of 1.5g/t Au.
In addition, the most recent phase of sampling in the south at Guaimarala has
identified a similarly extensive area of highly anomalous gold mineralisation at surface,
with some samples returning assays of multiple g/t Au.
The high priority targets of La Cejita and Jesuitas, not being in granted titles, have only
been covered in a cursory fashion, however anomalous rock chip samples have been
noted.
Fig 4. Soil and Rock Sampling 2020-2021
Planning for Drilling
These targets are now nearing the stage of requiring drill testing. The process of
permitting (land access and water use) and the development of the required access is
now well advanced. Exact timing of the commencement of drilling is dependent u pon
the outcome of the permitting process and will be communicated when more details
become available.
Orosur CEO Brad George commented:
"Handing over operating control of Anzá was a complex and protracted process,
slowing work and news flow. However, this effort was a necessary component of the
evolution of the Project and is now reaping rewards as our major partners ramp up
activities.
Covid-19 has now abated in the region to the extent that field activities can be
undertaken more freely, and we look forward to major drill campaigns restarting on the
exciting prospects that have been defined."
For further information, please contact:
Orosur Mining Inc
Louis Castro, Chairman,
Brad George, CEO
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP - Nomad & Joint Broker
Jeff Keating / Caroline Rowe
Tel: +44 (0) 20 3 470 0470
Turner Pope Investments (TPI) Ltd - Joint Broker
Andy Thacker
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 Regulation ("MAR "). Upon the pu blication of this announcement via
Regulatory Information Service, this inside information is now considered to be in the public domain.
Drill Hole Details - 2020/2021 Programme*
Hole ID Easting
(m)
Northing (m) Elevation asl
(m)
Dip (°) Azimuth
(°)
MAP-072 400088 694745 1075 -55 293
MAP-073 400018 694503 1097 -58 295
MAP-074 399981 694684 1110 -58 295
MAP-075 400168 694723 1024 -55 295
MAP-076 400019 694527 1107 -50 295
MAP-077 400168 694723 1024 -69 295
MAP-078 399917 694719 1112 -50 295
MAP-079 399995 693976 960 -55 295
MAP-080 400231 694580 966 -55 295
MAP-081 400045 693950 920 -55 295
MAP-082 400176 694797 1020 -50 296
MAP-083 400176 694797 1020 -60 310
MAP-084 400045 693950 920 -57 321
MAP-085 400167 694552 1000 -46 247
MAP-086 400067 694360 1068 -54 295
MAP-087 400027 694168 988 -54 290
MAP-088 400168 694723 1024 -55 341
MAP-089 400067 694360 1068 -59 317
MAP-090 400041 694630 1059 -56 296
MAP-091 400060 694715 1089 -50 295
MAP-092 399420 695235 1162 -50 138
MAP-093 400055 694203 1006 -59 290
MAP-094 399954 694347 1031 -64 303
MAP-095 399722 695252 1113 -50 135
MAP-096 399759 694632 1082 -57 127
MAP-097 400054 694472 1087 -71 311
MAP-098 399794 694730 1149 -65 130
MAP-099 399098 695129 1157 -50 250
MAP-100 400096 694431 1051 -59 283
* Coordinates WGS84, UTM Zone 18
About Orosur Mining Inc.
Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious metals developer and explorer focused on identifying and
advancing projects in South America. The Company operates in Colombia, Argentina and Brazil.
About the Anzá Project
Anzá is a gold exploration project, comprising three exploration licences, four exploration licence applications,
and several small exploitation permits, totalling 207.5km2 in the prolific Mid-Cauca belt of Colombia.
The Anzá Project is currently wholly owned by Orosur via its subsidiary, Minera Anzá S.A.
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.
The Anzá Project is subject to an Exploration Agreement with Venture Option dated September 7th, 2018, as
announced on September 10th, 2018, (the "Agreement") between Orosur's 100% subsidiary Minera Anzá S.A
("Minera Anzá") and Minera Monte Águila SAS ("Monte Águila"), a 50/50 joint venture between Newmont
Corporation ("Newmont") (NYSE:NEM, TSX:NGT), and Agnico Eagle Mines Limited ("Agnico") (NYSE:AEM,
TSX:AEM).
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 Ltd and
a qualified person as defined by National Instrument 43-101.
Orosur Mining staff follow standard operating and quality assurance procedures to ensure that sampling techniques
and sample results meet international reporting standards.
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 20% of total submitted samples being
blanks, repeats or Certified Reference Materials (CRMs).
Samples are sent to the Medellin preparation facility of ALS Colombia Ltd, and then to the ISO 9001 certified ALS
Chemex laboratory in Lima, Peru.
30 gram nominal weight samples are then subject to fire assay and AAS analysis for gold with gravimetric re-
finish for overlimit assays of >10g/t. ICP-MS Ultra-Trace level multi-element four-acid digest analyses is 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.
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 "s afe har bour"
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 explora tion plans in Colombia and the funding from
Monte Águila of those plans, Monte Águila´s decision to continue with the Exploration and Option agreement, the
ability for Loryser to continue and finalize with the remediation in Uruguay, the ability to impleme nt the Creditors'
Agreement successfully as well as continuation of the business of the Company as a going concern and other
events or conditions that may occur in the future. The Company's continuance as a going concern is dependent
upon its ability to ob tain adequate financing, to reach profitable levels of operations and to reach a satisfactory
implementation of the Creditor´s Agreement in Uruguay. These material uncertainties may cast significant doubt
upon the Company's ability to realize its assets an d discharge its liabilities in the normal course of business and
accordingly the appropriateness of the use of accounting principles applicable to a going concern. 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, those as described in Section "Risks Factors" of the MDA and the Annua l
Information Form. 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.