Orosur Mining Inc. – Reports High Grade Drill Results, including 5.00g/t Au over 23m, 4.89 g.t over 13.9m and 4.86 g/t Au over 25.0m at Anzá, Colombia
Orosur Mining Inc. – Reports High Grade Drill Results, including 5.00g/t Au over 23m, 4.89 g.t over
13.9m and 4.86 g/t Au over 25.0m at Anzá, Colombia
Medellin, Colombia, February 20, 2018. Orosur Mining Inc. (“Orosur” or “the Company”) (TSX/AIM: OMI)
the South America -focused gold producer, developer and explorer is pleased to report new results from
the ongoing step-out drill program at its 100% owned high grade APTA deposit; one of five identified target
areas in the Anzá project in Colombia (Fig. 1).
Notable results to date from 17 intercepts in 7 drill holes focused on expansion drilling at the APTA deposit
are highlighted below and include numerous significant intervals at high grades, including:
• 17.76 g/t Au over 5.32 metres in MAP_54 (as previously announced);
• 4.89 g/t Au over 13.9 metres in MAP_55;
• 5.00 g/t Au over 23 metres in MAP_62; and
• 4.86 g/t Au over 25.0 metres in MAP_60.
Ignacio Salazar, CEO of Orosur, said:
“I am delighted to report a strong set of step-out drilling results from our high grade APTA project. These results continue
intercepting high grade gold mineralization over multiple significant intervals and have extended the mineralized zone
a further 75 metres down dip, 50 metres up dip and 85 metres along strike to the north. APTA high grade gold
mineralized intercepts now cover a strike extent of approximately 1.5km and depth extent of 275 metres and remains
open in all directions.
There are 5 more holes drilled in APTA still pending assay result s and we plan to drill up to a further 6 holes at
Charrascala in the coming weeks. The new drilling planned at Charrascala seek to add an additional mineralized body
in an area that is approximately 3 km north-south by 1 km east-west.
APTA and Charrascala are two of the five identified target areas in our Anzá project in Colombia. ”
Table 1. Notable assay results from the APTA drill program, Anzá project
Hole Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Zn (%)
MAP_54 41.40 59.30 17.90 2.96 26.97 0.32
Including 41.40 43.20 1.80 10.25 76.90 1.22
Including 44.70 52.00 7.30 3.39 33.71 0.37
97.10 110.90 13.80 4.36 1.19 0.77
Including 97.10 101.73 4.63 5.47 1.59 1.44
Including 107.60 110.90 3.30 10.35 0.83 0.14
144.50 149.82 5.32 17.76 1.55 4.74
Including 144.50 145.70 1.20 8.71 0.90 0.80
including 145.70 146.70 1.00 37.96 1.30 0.70
including 146.70 148.00 1.30 19.76 1.40 0.25
including 148.00 148.87 0.87 17.63 1.50 7.56
including 148.87 149.82 0.95 5.31 2.90 17.54
149.82 159.10 9.28 1.84 0.94 2.26
including 153.00 155.00 2.00 3.43 0.97 1.14
309.20 313.20 4.00 2.96 5.70 0.41
MAP_55 177.00 190.90 13.90 4.89 4.86 1.35
Including 177.00 181.00 4.00 6.26 3.35 0.57
Including 185.00 190.90 5.90 7.24 8.73 2.78
MAP_56 223.00 235.00 12.00 1.33 0.90 0.05
Including 231.00 233.00 2.00 2.62 1.00 0.02
MAP_58 246.00 250.00 4.00 1.10 3.45 0.15
274.50 276.50 2.00 4.55 6.50 0.13
MAP_59 163.50 195.00 31.50 1.86 2.39 0.49
Including 181.00 188.00 7.00 4.66 2.17 0.27
Including 192.00 194.00 2.00 3.40 3.55 0.56
230.50 242.50 12.00 1.96 2.73 0.50
Including 230.50 236.50 6.00 3.15 1.75 0.63
MAP_60 70.00 75.50 5.50 3.34 13.32 0.19
165.00 192.00 25.00 1.81 0.87 0.33
Including 180.00 186.00 6.00 2.92 0.67 0.20
Including 189.00 192.00 3.00 4.60 2.90 1.52
222.00 247.00 25.00 4.86 3.23 1.73
Including 222.00 226.00 4.00 7.92 4.13 1.94
Including 235.00 238.00 3.00 9.54 5.37 0.33
Including 245.00 246.00 1.00 14.43 3.40 0.95
MAP_62 60.00 65.30 5.30 5.09 12.06 0.37
including 62.20 64.20 2.00 7.61 16.9 0.80
167.50 176.50 9.00 1.69 0.62 -
217.00 240.00 23.00 5.00 3.37 0.40
Including 220.00 221.00 1.00 16.02 9.40 0.81
Including 229.70 232.20 2.50 8.59 2.98 0.66
Including 237.70 240.00 2.30 14.94 7.88 0.13
Notes:
1. Significant intervals are chosen based on continuity of mineralization and gold grade.
2. All intervals are reported as drilled thicknesses; true thicknesses are estimated to be 65 -85% of drilled
thicknesses.
3. Gold grades have been calculated based on weighted averages.
Table 2. Hole location and orientation data for the nine holes assayed to date.
Drilling conducted to date supports Orosur’s geological model at APTA and recent drilling has extended the
mineralized zone a further 75 metres down dip, 50 metres up dip and 85 metres along strike to the north.
APTA high grade gold mineralized intercepts now cover a strike extent of approximately 1.5km and depth
extent of 275 metres and remains open in all directions.
To date, Orosur has completed 16 holes (MAP_54 to MAP_69, Fig. 2) totaling 5,640.5 metres at APTA and
has received assay results for 9 holes tota lling approximately 3,121 metres (MAP _54 to MAP _62, Fig. 2
above). Of the nine holes, seven had notable gold intercepts (Table 1).
Drill Program Highlights
APTA’s gold mineralisation continues to be reinforced with the current drill program with MAP_54, MAP_56
and MAP-59 extending gold mineralization 75 metres down dip and 50 metres up dip. 275 metres of depth
potential has now been drill defined at APTA. Gold mineralization is associated with intense silicification
and faulting.
An additional broad zone of gold mineralization covering a continuous 450 metres of strike and immediately
north of previous drilling has been defined . Results from two holes (MAP _60 & MAP _62) have
demonstrated multiple zones of gold mineralization including 5.5g/t Au over 3.34 metres from 70 metres
depth and 4.86g/t Au over 25 metres from 222 metres depth in MAP _60 and 5.09g/t Au over 5.3 metres
from 60 metres depth and 5.00g/t Au over 23 metres from 217m depth in MAP_62 (Table 1, Figs 2, 3, & 4).
Hole Number Northing (m) Easting (m) Elevation (m) Azimuth (°) Dip (°) Total Depth (m)
MAP_54 694,589 399,857 1,097 93.00 -63.00 355.00
MAP_55 694,926 400,141 1,024 285.00 -69.00 255.00
MAP_56 694,599 399,763 1,075 95.00 -60.00 453.00
MAP_57 695,114 400,192 985 290.00 -75.00 352.00
MAP_58 695,090 399,997 1,020 105.00 -67.00 321.00
MAP_59 694,440 399,808 1,017 93.00 -60.00 324.00
MAP_60 694,796 400,046 1,075 284.00 -68.00 350.00
MAP_61 694,439 399,753 1,026 95.00 -65.00 451.00
MAP_62 694,796 400,046 1,075 284.00 -52.00 260.00
This zone is characterized by strongly silicified breccias with disseminated sulphides like pyrite, sphalerite
chalcopyrite and traces of galena.
Near Term Exploration Program
The Anzá project contains a further four high priority targets with coincident geochemical and geophysical
anomalies (Fig. 1). Apart from APTA, the highest priority target, at present, is Charrascala which is located
1.5 km to the west of APTA. Charrascala is defined by an extensive coincid ent gold in soil and magnetic
anomaly that is approximately 3 km north-south by 1 km east-west and localized along a potential north-
south structure . Surface mapping and sampling combined with interrogation of geophysical data sets
indicates very similar signatures to APTA.
Given the validation of APTA’s geological model with recent drilling , the last phase of this exploration
campaign will focus on Charrascala with up to six planned diamond holes to drill test its potential . As a
consequence, there will be a reduction of planned infill drilling at APTA, which will result in approximately
10,000 metres of drilling in total for this exploration campaign, compared to the 15,000 metres previously
announced. The reduction in drilling planned for the remainder of this exploration program will allow
increased investment at Charrascala, including additional geochemical work, road access, drilling platform
preparation and rig displacements. Orosur is also adding surface exploration activities, including mapping
and sampling, across the broader Anzá project. All permits required to complete this program , including
drilling permits at Charrascala, have now been granted.
Figure 1 . Coincident geochemical and
geophysical anomalies in the Anzá project
showing five high priority target areas. Only
APTA has undergone drilling.
Figure 2. Topography map showing relative location of
previous and current APTA drill holes. Drill holes
referenced in this press release are highlighted in Tables
1 and 2 . All holes were assayed at SGS or ALS
laboratories in Medellin.
Figure 3. Map showing northern portion of APTA and
cross section.
Figure 4. Cross section A-A`
Update on Uruguay operations
The block model for San Gregorio Central (SGC) which was finalized in financial year Q2 18 showed that
the mineralized structure is less economically viable at depth and to the East due to reductions in both ore
grade and thickness. The Company therefore optimized the mine plan for SGC and development started
and advanced during Q3 while initial production from SGC is expected at the end of Q3. In parallel, during
Q3 the Company started the development on the last two deepest levels of SGW and the pre -stripping of
the open pit Sobresaliente. As a consequence, the company expects higher unit cost in Q3, to be improved
in Q4 when SGC and Sobresaliente are planned to be in production. A significant effort is being allocated
to reduce costs and accelerate the progress of the SG East and Veta A UG projects. Orosur will provide
a detailed update of the operations in the Q3 Results Report in April 2018.
Quality Control and Reporting Protocols
This initial drill program recovered HQ/HQ3 core which was logged, split in half for sampling, with the
remainder stored for reference in the secure core facility at Finca El Vergel, Anzá, Antioquia, Colombia.
Samples are delivered to SGS lab and ALS lab both in Medellín, Antioquia, Colombia (ISO/IEC 17025) for
analysis. At the Laboratory, samples are analyzed for gold by traditional fire assay with atomic absorption
finish, with those samples returning >5 g/t gold repeated using a 50g aliquot and gravimetric finish. Samples
are also analyzed for multi -elements including silver, cobalt, copper and zinc by total digestion ICP at the
same labs. Selected samples will also be re-assayed by metallic sieve methods using up to a 350 g aliquot,
based on gold and sulfide content.
Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is
performed by qualified persons employing a QA/QC program consistent with NI 43 -101 and industry best
practices. Standards, duplicates, and bla nks are added at the lab as well as standards, blanks and
duplicates submitted as unknowns by the Company every ten samples. Approximately 5% of sample pulps
are sent to secondary laboratories for check assay.
Assays are reported as composited intervals using weighted averages, with highly enriched zones reported
separately. Assays are uncut at this time. Applicable true widths are determined by ongoing investigation
of the continuity and geometry of zones, and are typically expected to be 65% to 85% of the reported core
lengths.
Qualified Person
The technical information related to the current assets of Orosur Mining in this announcement has been
reviewed and approved by independent Mining engineer Miguel Fuentealba, a qualified person as defined
by National Instrument 43-101.
About Orosur Mining Inc.
Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a fully integrated gold producer, developer and explorer
focused on identifying and advancing gold projects in South America. The Company operates the only
producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality
assets in Uruguay, Chile and Colombia.
For further information, please contact:
Orosur Mining Inc
Ignacio Salazar, Chief Executive Officer
Tel: +1 (778) 373-0100
Cantor Fitzgerald Europe – Nomad & Joint Broker
David Porter/Keith Dowsing
Tel: +44 (0) 20 7894 7000
Numis Securities Limited – Joint Broker
John Prior / James Black / Paul Gillam
Tel: +44 (0) 20 7260 1000
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 publication of this
announcement via Regulatory Information Service, this inside information is n ow considered to be in the
public domain. If you have any queries on this, then please contact Ignacio Salazar, Chief Executive Officer
of the Company (responsible for arranging release of this announcement) on: +1 (778) 373 -0100.
Forward Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this news
release, including any information as to the future financial or operating performance of the Company,
constitute "forward-looking statements" within the meaning of certain securities laws, including the "safe
harbour" provisions of the Securities Act (Ontario) and 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.
There can be no assurance that such statements will prove to be accurate. Such statements are subject to
significant risks and uncertainties, and actual results and future events could differ materially from those
anticipated in such statements. Forward -looking statements include, without limitation success of
exploration activities; permitting time lines; the failure of plant; equipment or processes to operate as
anticipated; accidents; labour disputes; requirements for addition al capital title disputes or claims and
limitations on insurance coverage. 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.