Orosur Mining Inc - Colombia update
Orosur Mining Inc - Colombia update
• Assays from second hole of current drill program (PEP013) received.
• Composite intersection of 77.3m @ 7.68g/t Au from surface.
• Assays from third hole (PEP014) expected shortly.
• Drilling of fourth hole (PEP015) has been completed and assays
dispatched to the lab for analysis.
• Preparation of platform for PEP016 under way.
London, December 9th, 2024 . 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.
ANZÁ Project
The Anzá Project is now 100% owned by the Company following recent completion of
a Share Purchase Agreement (SPA), announced 28 th November 2024, whereby the
Company purchased all of the shares of its previous JV partner, Minera Monte Aguila
(MMA).
During the JV, the Project comprised several granted exploration licences and
applications totalling roughly 176km2, covering a large strike length of major structures
on the mid-Cauca belt, Colombia's primary gold region (Figure 1).
Post the acquisition of MMA, the area of the Project has increased substantially to
roughly 400km2 due to the acquisition of a number of additional applications that were
owned by MMA. The full extent of these new applications is currently being assessed
and will be detailed in a later announcement.
The Project is located 50km west of Medellin and is easily accessible by all -weather
roads and boasts excellent infrastructure including water, power, communications as
well as a large exploration camp.
Figure 1 - Anzá Project (pre-MMA transaction)
Pepas
The Pepas Prospect is in the northern extent of the Anzá Project (pre-acquisition) over
10km north of the central base at APTA (Figure 2).
Figure 2. Anzá Project - prospects
Field work commenced at Pepas in late 2021 as the gradual abatement of Covid
allowed field crews to move outside a covid bubble that had constrained their
movements during the pandemic to the core APTA deposit that had up to that point
been the target of most historical exploration work.
The Company mobilised a drill rig to site in mid -November with a view to a small
program of approximately 800m with the dual objectives of assessing the continuity of
gold mineralisation identified in previous drilling and gaining of greater understanding
of the orientation of mineralisation and its lithostructural controls.
The first hole of this new program, PEP012, was collared adjacent to mapped artisanal
workings and directed back toward the first of the previous JV holes (PEP001), as a
scissor hole, a reasonably standard strategy in instances of uncertain geological
orientation. Assay results for PEP012 were announced on 2 nd December 2024, and
returned an excellent intersection of 66.75m @ 5.64g/t Au from surface.
PEP013 was collared from the same pad as PEP012 but rotated 51 degrees to the
east to be orientated to be more orthogonal to what is currently interpreted as the strike
of the mineralisation and controlling structures.
Figure 3. Plan of holes
As with PEP012, PEP013 entered highly mineralised tuffs almost immediately, of
similar nature to that seen in PEP001 and PEP012, before intersecting a basement
fault at 79m, very close to the predicted depth. The hole was terminated at 85m.
Figure 4. Section, PEP013
The entire length of PEP013 above the fault, was mineralised with a composite
intersection of 77.3m @ 7.68g/t Au being calculated, from surface.
Hole Number From (m) To (m) Interval
(m) Au (g/t)
PEP013 0 77.30 77.30 7.68
including 0 18.75 18.75 11.02
including 28.2 45 16.80 13.29
Table 1. Drill Intercepts
Discussion and ongoing drilling
Hole PEP012 was designed largely as a confirmatory hole, to verify previous drilling
undertaken by the Company's former JV partner in 2022, and to gain better
understanding of the nature and orientation of the recorded mineralisation.
Hole PEP013 was drilled in a direction that was deemed to be more orthogonal to what
is currently interpreted as the trend of the mineralisation, roughly SE to
NW. Intersection of the basement fault at close to the predicted depth, lends weight
to this interpretation.
Later holes PEP014 and PEP015 are positioned on the same dip and azimuth as
PEP013 but shifted to the NW (Figure 3) by various separations, to a large extent
driven by access for drill pad creation. The objective of these holes is to further define
mineralisation, and to provide sufficient pierce points into the basement fault to allow
more reliable interpretation of the mineralisation trend.
Hole PEP016 is a deeper hole located some distance to the SW that is planned to test
downdip extensions and to begin the process of assessing the wider extent of the
Pepas mineralisation.
PEP014 has been completed and assays should be available shortly. PEP015 has
been completed and assays have been dispatched to the lab for analysis, whilst
preparation of the platform for the drilling of PEP016 is under way.
Orosur CEO Brad George commented:
"Results from PEP013 are little short of exceptional in terms of thickness and grade,
especially from surface. But of equal importance is the information this hole has
provided in relation to the form and orientation of the Pepas mineralisation. A few more
like this and perhaps we can then start to step out and define its size".
For further information, visit www.orosur.ca, follow on X @orosurm or 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 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 (Withdrawa l) 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
* Coordinates WGS84, UTM Zone 18
** Preliminary coordinates with handheld GPS. To be later verified by survey
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, four exploration licence applications,
and several small exploitation permits, totalling 176km2 in the prolific Mid-Cauca belt of Colombia. Post the
acquisition of Minera Monte Aguila S.A.S, the area of the Project has increased substantially to
approximately 400km2 due to the acquisition of a number of additional applications that were owned by Minera
Monte Aguila S.A.S.
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.
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.
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 Stat es 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.