LONDON, UK / ACCESS Newswire / February 4, 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 ("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).
After 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 in 2022.
Later holes 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 drilled and announced to date (PEP012 to PEP018) have all intersected thick sequences of gold mineralisation, that seem to be bounded on each side by two faults that converge at depth (Tesorito North and Tesorito South faults). Recent drilling continues to improve the geological understanding of the lithostructural architecture of the mineralised zone.
Figure 2. Plan of holes
Holes PEP019 and PEP020 were both drilled from the same pad in the SE of the mineralised zone to test continuity of mineralisation and to examine some additional structures that had been identified at surface in this location (Figure 3).
Both holes entered broken ground at shallow depth, potentially indicative of a N-S fault that will require more examination. The fault zone, however, was substantially mineralised, with the holes recording high quality intersections of 44.3m @ 1.63g/t Au and 54.65m @ 1.94 g/t Au respectively, both from surface.
Figure 3. Section, PEP019 and PEP020
Holes PEP021 and PEP022 were drilled from the same pad, on section with PEP014 in the centre of the mineralised zone, but in the opposite direction to PEP014, to define the nearly identified Tesorito South fault, which thus far had only been intersected at a very shallow angle in holes PEP016 and PEP018.
Both holes entered high grade gold mineralisation immediately from surface, which continued at a consistent level until intersection of the Tesorito South fault (Figure 4).
The holes returned exceptional gold intersections of 107.05m @ 6.22g/t Au and 76.3m @ 7.24g/t Au respectively, both from surface.
Figure 4 Section PEP021 and PEP022
Hole PEP022 encountered a second fault toward the bottom of the hole, possibly indicative of a small N-S fault, intersected at a shallow angle. This fault zone was mineralised to a low level of less than 0.3g/t Au but was included in the above quoted composite intersection as it was felt its thickness may have been exaggerated due to the shallow angle of intersection. If this fault zone were removed from calculation, the composite intersection of PEP022 would instead be 62.95m @ 8.73g/t Au, from surface.
Drill intersections for these four holes are as follows:
Hole Number
From (m)
To (m)
Interval (m)
Au (g/t)
PEP019
0
44.30
44.3
1.63
including
8.7
17.5
8.8
3.35
PEP020
0
54.65
54.65
1.94
including
47.0
54.65
6.75
4.51
PEP021
0
107.05
107.05
6.22
including
23.2
47.05
23.85
13.67
82.25
86.45
4.2
15.31
98.55
105.9
7.35
9.2
PEP022
0
76.3
76.3
7.24
including
20.55
34.45
13.9
8.72
37.25
56
18.75
17.02
58.4
62.95
4.55
9.11
Table 1. Drill Intercepts
Surface Sampling The Pepas prospect was originally identified by regional BLEG sampling in late 2021, with high grade surface outcrop then being discovered early in 2022 and immediately drilled.
Little or no surface geochemical sampling was undertaken prior to drilling.
However, upon taking control of the Project post completion of the MMA transaction in late November 2024, the Company took possession of all historical databases. It was then noted that some substantial ridge and spur soil sampling programs had been undertaken in the region post drilling, later in 2022. The Company had not previously been aware of these data.
Analysis of these data (Figure 5) not only clearly shows the Pepas area as being highly anomalous but also shows an area to the north of even more extensive soil anomalism. The current area of Pepas that has been drilled, covers roughly half of N-S extent of the southern anomaly (Figure 5) marked as "Pepas".
The northern area marked as "Pepas 2" is untouched. Combined, the two zones cover some 1000m of strike.
Figure 5. Pepas soil sampling
These soils, while extremely anomalous, are limited in by being constrained to ridges and spurs - a common strategy in steep terrain to ensure samples are in-situ.
As a result, over the last several weeks, Company geological teams have been active in this northern area, mapping the flanks of these ridges for in-situ, residual material that could provide more targeting guidance.
A number of areas of mineralised material have been identified, with one large area along a small walking track exposing saprolite and semi-fresh rock. Over 100m of mineralisation was identified at surface, with samples taken at 1m intervals over the entire length of the exposure. Assay results averaged 1.15g/t Au over 105m, with individual samples at times exceeding 5g/t Au (Figure 6.). This channel sample is at the southern extreme of the new Pepas 2 anomalous area, but over 200m north of the limit of current drilling.
No work has yet been undertaken on the majority of the zone.
Figure 6. Channel Samples
Mapping and sampling programs continue in this northern area, with a view to potential drilling at a later date once the current Pepas area is better defined.
Discussion and ongoing drilling Since the Company reassumed control of the Project, 11 holes have been completed for 941m. All holes have returned substantial gold intersections, particularly in the centre of the currently drilled area where assays results have been exceptional (Table 2)
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
Table 2. Results to date, post MMA transaction
While some understanding of the form of the Pepas mineralisation is beginning to emerge, this represents a relatively limited amount of drilling and can be considered as preliminary testing at best.
As we are very encouraged by these early results, we will continue the drilling programme, although for the foreseeable future the Company will operate conservatively within its cash and personnel constraints and continue with only one drill rig; defining, expanding and understanding the current Pepas body, thus freeing up a team to examine the large anomalous area abutting to the north.
Orosur CEO Brad George commented: "In some nine weeks (including the Christmas break), and less than 1000m of drilling, we have moved Pepas from a concept to one of the most exciting exploration stories in the gold space. It is very early days, but the results obtained thus far, if continued, could see the project advance very quickly."
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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