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 100% owned by the Company following recent 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 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.
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 1).
Figure 1. Anzá Project - prospects
Pepas was discovered by MMA in late 2021 by BLEG sampling and geological mapping, followed by 11 diamond drill holes in 2022 (PEP001 to PEP011).
On completion of the transaction to buy MMA, the Company restarted drilling at the Pepas prospect in mid-November 2024.
Drilling commenced with hole PEP012, which was positioned to confirm previous high-grade results in holes PEP001, PEP005 and PEP007 drilled by MMA in 2022.
Later holes (PEP013 to PEP015) were then rotated some 51 degrees clockwise from PEP012 to begin to test what was considered by Company geological teams to be the controlling trend of SE to NW. The primary objective of the first phase of drilling by the Company was to attempt to understand the geological controls upon mineralisation first identified in 2022, so as to provide guidance for later step out drilling.
Holes PEP012 to PEP015 (previously announced) all intersected thick sequences of high-grade gold mineralisation (table 2), and importantly, intersected a well-defined basement fault that could be correlated from hole to hole and thus provide clear guidance as to orientation.
Figure 2. Plan of holes
Holes PEP016 and PEP017 were both drilled downdip of previous holes, but at opposing ends of the current mineralised zone, in order to test additional structural complexities that were anticipated to the SW and to begin creating several drill sections to aid in interpretation. PEP018 was then drilled up dip of and on section with holes PEP013 and PEP017.
Both PEP016 and PEP017 intersected loose and broken ground from surface, likely as a result of both holes being drilled through and sub-parallel to a large fault zone running parallel to the known basement fault and converging at depth. Drilling within this zone was difficult, with poor recoveries, such that PEP017 was abandoned, and redrilled as PEP017B from the same pad, with slightly shallower dip so as to exit the fault zone earlier.
Some evidence of the existence of this fault had been noted in surface mapping and these holes were designed to test its location and nature to gain a better understanding of the mineralisation.
Once leaving the fault zone, both holes entered the mineralised zone and recorded substantial intersections of gold mineralisation.
PEP018 was drilled immediately up dip of PEP013 to extend the exceptional results recorded in this previous hole. PEP018 entered high grade mineralisation from surface, which continued until intersection of the expected basement fault.
Drill intersections for these three holes are as follows:
Hole Number
From (m)
To (m)
Interval (m)
Au (g/t)
PEP016
61.6
105.3
43.7
3.13
including
61.6
76.25
14.65
8.09
PEP017
56.1
96.3
40.2
2.06
including
56.1
64.15
8.05
4.42
including
74.35
78.6
4.25
8.3
PEP018
0
54.1
54.1
6.01
including
5.4
29.15
23.75
9.07
Table 1. Drill Intercepts
Figure 3. Section, PEP016
Fig 4 Section PEP017B
Discussion and ongoing drilling Holes PEP016, PEP017, and PEP018 are adding to the geological picture in the centre of the Pepas zone.
The holes drilled since the Company took control of the Project less than six weeks ago, have confirmed the Company's assertion that previous drilling in 2022, while successful in discovering Pepas, did not resolve the orientation of the mineralisation as most holes were drilled sub-parallel to what is now thought to be the primary orientation.
Holes PEP016 and PEP017 were drilled with the joint objectives of increasing the understanding of the litho-structural framework of the deposit, with specific focus on a fault that was expected in the SW of the area. A geological picture is beginning to emerge of the current body of mineralisation sitting within the keel of two roughly parallel faults that converge at depth with a southerly plunge.
Hole PEP018 was drilled up dip of hole PEP013 to complete a drill section. It was expected to return an exceptional result and did not disappoint.
Hole PEP019 is located parallel to PEP018, some 30m along strike to the SE (figure 2), to gradually step out this mineralisation to the SE and to commence a new section. This hole is currently underway.
Preliminary interpretation suggests these two major faults are likely to post-date mineralisation. Attention is thus being given to examining the sense of movement of these structures and their potential impact in offsetting mineralisation. Recent surface mapping and geochemistry results are beginning to demonstrate substantial potential northward of the current body and geological teams are currently expanding this work with a view to developing new targets in addition to the definition drill program currently underway at Pepas.
Since Orosur reassumed ownership and control of the Anzá project in late November 2024, seven holes have been drilled at the Pepas prospect, with all seven returning outstanding gold intersections:
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
Table 2. Results to date, post MMA transaction
Orosur CEO Brad George commented: "Drilling at Pepas continues to develop an exciting story. It has been less than six weeks and yet we have achieved a huge amount, with seven holes drilled, all of which have returned exceptional intersections. We will continue expanding Pepas, but attention now also turns northward where tantalising surface mapping is attracting our attention."
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
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.
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 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.
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