REG - Orosur Mining Inc - Drilling and sampling expands Pepas

Orosur MiningAnnouncement

23/04/2025 07:15

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RNS Number : 8277F  Orosur Mining Inc  23 April 2025

 

 

 

Orosur Mining Inc - drilling and sampling expands Pepas

 

·    Assays from five more holes at Pepas. Best results include:

o PEP028 - 31.35m @ 1.61 g/t Au

o PEP032 - 92m @ 1.68 g/t Au from surface

including 11.85m @ 6.84 g/t Au and 7.7m @ 5.05 g/t Au

·    Channel sampling at North Pepas expands high grade anomalous zone,
best surface sample of 27.23 g/t Au.

·    Access to North Pepas complete - drilling to commence soon.

·    Soil sampling at El Cedro underway

 

London, April 23(rd), 2025. 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 ("The Project")
in Colombia.

 

Colombia - ANZÁ Project

The Anzá Project is now 100% owned by the Company following 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").

 

The Project, which is located 50km west of Medellin, is easily accessible and
boasts excellent infrastructure including water, power and communications as
well as a large exploration camp.

 

The Project sits within the prolific mid-Cauca belt, Colombia's primary gold
belt, and is located along strike between several world class gold/copper
deposits including Buritica, Quebradona and Guayabales/Marmato (Figure 1).

 

From September 2018 to November 2024, the Anzá Project was under the control
of its previous JV partner MMA, itself a 50/50 venture between the world's two
largest gold miners, Agnico Eagle Mines and Newmont Mining.

 

 

Figure 1.  Mid-Cauca Belt

 

 

Prospects

The Company is currently focussed on three prospects within the Anzá Project
- Pepas, APTA and El Cedro. All three prospects are within the same granted
exploration title that is broken into two, non-contiguous pieces (Figure 2).

 

Drilling is currently being undertaken at the Pepas prospect in the northern
extent of the Anzá Project (pre-acquisition) over 10km north of the central
base camp at APTA. In parallel, mapping and sampling is being undertaken over
the El Cedro porphyry system in the south of the project area.

 

Post the MMA acquisition in late November 2024, the Company more than doubled
its land holding in the mid-Cauca belt to 400km2, by virtue of gaining
ownership of a large number of licence applications held by MMA. This makes
the Company one of the major land holders in one of the world's most exciting
gold belts.

 

These applications have yet to be properly assessed by the Company as most
financial and management resources have thus far been directed to drilling at
Pepas.

 

 

Figure 2. Main prospects, licences pre-MMA acquisition

 

 

Pepas Prospect

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 late-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.

 

Most drilling conducted to date by the Company has focussed on a central,
high-grade core around the first discovery holes. This has been an intentional
strategy based on several rationale:

·    To understand the mineralisation and its litho-structural controls.

·    To allow time for surface mapping and sampling to expand the
anomalous zone and provide targets.

·    To allow time for permits and physical access to be developed to
other parts of the prospect.

·    To examine the potential of moving a small part of Pepas to resource
status which could be beneficial in the context of the Colombian permitting
system and a pre-existing environmental exploitation permit over part of these
licences.

 

Figure 3.  Plan of holes

 

PEP028 was drilled at the northern extend of the central core, as a scissor
hole to PEP015, (Figure 4) to define the position of the Tesorito South fault
and thickness of transported cover in this location. This was necessary to
assist in moving toward a resource if future results warrant. This hole
confirmed previous drilling and recorded a thick sequence of medium grade
mineralisation.

Figure 4.  Section, PEP028 and PEP015

 

Holes PEP029 and PEP030 were drilled from the same pad, some distance from the
central core and likely NW of the primary geological trend, testing a
different geological horizon and several mildly anomalous outcrops. Both
intersected thick sequences of lower grade mineralisation. Both of these holes
and other work, suggest the potential for a large, reasonably consistent
low-grade halo of roughly 0.3g/t Au around a higher-grade core.

 

Hole PEP031B was the redrill of PEP031 which became stuck in broken ground.
 This hole was drilled in the SE of the prospect, slightly off trend to test
the downdip extension of a large moderate-grade silicified outcrop that was
interpreted to be a later phase of mineralisation from the two phases that are
thought to create the very high-grade mineralisation of earlier holes.

 

Hole PEP032 was drilled in the southern section of the prospect, at different
angle to previous drilling.  The hole was planned as infill for resource
modelling purposes and returned a very thick intersection of moderate grade
mineralisation from surface.

 

Drill intersections for these most recent five holes are as follows:

 

 Hole Number     From (m)     To (m)     Interval (m)    Au (g/t)
 PEP028          29.5         60.85      31.35           1.61
 including       31.45        39.3       7.85            2.12
 including       55.75        60.85      5.1             3.21
 PEP029          0            30.7       30.7            0.31
                 34.6         42.5       7.9             0.42
 PEP030          0            77.9       77.9            0.31
                 115.6        122.8      7               0.31
 PEP031B         28.15        41.1       12.95           0.73
                 74.1         794.9      20.8            0.30
 PEP032          0            92         92              1.69
 including       0            66.7       66.7            2.26
 including       2            13.85      11.85           6.84
 Including       32.1         39.8       7.7             5.05

Table 1. Latest drill Intercepts, Pepas

 

 

North Pepas

Surface ridge and spur soil sampling undertaken previously by MMA, had
identified a large, highly anomalous region to the north of the current Pepas
mineralisation. The Company has been following up this work with more targeted
and diagnostic channel sampling along tracks or other exposures, looking to
sample and assay in-situ saprolite or fresh rock (where present). Such
exposures are rare in the Pepas area due to soil cover and can be difficult to
locate through thick vegetation.

 

Results from one large channel sample undertaken by the Company, some 200m
north of the current extent of drilling were announced on 4(th) February 2025,
returning 105m @ 1.15 g/t Au, with some individual samples exceeding 5 g/t
Au.

Figure 5, Pepas soil and Channel samples

 

Ongoing mapping by field crews has identified another smaller exposure some
20m to the east, down slope in thick scrub. Channel sampling of this exposure
has returned an average sample interval of 49m @ 2.59 g/t Au, including a 10m
section of 6.93 g/t Au, with a number of samples exceeding 10g/t Au, and the
highest 1m sample being 27.23 g/t Au (Figure 6).

Figure 6.  North Pepas Channel Sampling

 

Crews continue to search for more such exposures, with current focus to the
west and north.

 

North Pepas lies across a property boundary from the current drilling at
Pepas, requiring both negotiation of land access with the property owner and
then development of physical access to the area for drilling machinery.
These have now been completed, and it is thus expected that drilling can
commence at North Pepas in the next few weeks.

 

A drone based airborne magnetic survey was recently completed over the Pepas
prospect. Preliminary data have been received but final data should be
available this week. These data should be of assistance in understanding
controls upon mineralisation at Pepas, and thus future drill targeting across
the prospect. It is likely however that the first hole at North Pepas will be
targeted to test depth extensions of the channel samples set out above.

 

El Cedro

The El Cedro prospect lies to the south of the same integrated licence that
hosts both Pepas and APTA and is roughly 4km south of the APTA base camp.

 

Work on the area began some years ago before Orosur's tenure, when Anglo
American undertook reconnaissance mapping and sampling, identifying a highly
prospective gold/copper porphyry system.

 

Little work was then undertaken until late 2021, when the Company's previous
JV partner MMA re-entered the area to carry out mapping, sampling and ground
geophysics that largely confirmed Anglo American's previous work and mapped
several large dioritic intrusions and associated epithermal systems. Sampling
was limited to creeks and drainages, and several small areas in the centre of
the zone.  However, wide areas of gold anomalism were identified in soils and
channel samples, with assays above 5g/t Au identified across a large area,
with associated copper and molybdenum anomalism (Figure 7).

 

Older airborne magnetic data suggests the presence of a large intrusive
complex demonstrating a "ring" structure, often seen in such environments.

 

Several weeks ago, the Company commenced a large-scale ridge and spur soil
sampling program covering most of what is thought to be the extent of the
porphyry system, with a view to confirming and extending the previous work and
if positive, to move toward drill targets in the medium term.

 

The sampling program is currently approximately 25% complete, with work
expected to continue into May. In addition, teams have identified several
abandoned artisanal tunnels across the prospect.  Where safe to do so, some
tunnels have been mapped and sampled, identifying a number of intrusive
related epithermal vein systems.

 

Due to the requirement for more complex assay techniques not available in
Colombia, samples are being first assayed for gold via fire assay in Medellin,
before being sent to Canada for full multi-element analysis.

 

Results are thus expected to start becoming available within weeks.

 

Figure 7. El Cedro Sampling - historical and planned - over airborne magnetics

Holes Drilled post MMA transaction

21 holes have been drilled at Pepas since the MMA transaction in November
2024.

Assay results are tabulated below.

 

 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
 PEP023          0            15         15              1.7
 PEP024          9.24         15.6       6.35            1.99
 PEP025          0            10.1       10.1            1.45
                 16.5         79         62.5            5.4
 PEP026          0            14.8       14.8            0.57
                 43.6         72         28.4            2.52
 PEP027          1            80.15      79.15           2.0
 PEP028          29.5         60.85      31.35           1.61
 PEP029          0            30.7       30.7            0.31
 PEP030          0            77.9       77.9            0.32
                 115.6        122.6      7               0.31
 PEP031B         28.15        41.1       12.95           0.73
                 74.1         95.9       20.8            0.3
 PEP032          0            92         92              1.68

Table 2.  Results to date, post MMA transaction

 

Orosur CEO Brad George commented:

"The Anzá Project is progressing well, with Pepas continuing to be defined
and new fronts being opened northward of Pepas, and to the south at El Cedro."

 

For further information, visit www.orosur.ca (http://www.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

 

SP Angel Corporate Finance LLP - Nomad & Joint Broker

Jeff Keating / Jen Clarke / Devik Mehta

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

orosur@flagstaffcomms.com

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 (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.

 

 

 

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
 PEP-014   403400       704910        1007               -50       43
 PEP-015   403375       704938        1017               -50       43
 PEP-016   403326       704912        999                -50       43
 PEP-017   403365       704848        976                -40       47
 PEP-018   403345       704851        977                -45       43
 PEP-019   403446       704890        991                -45       43
 PEP-020   403446       704890        991                -75       43
 PEP-021   403424       704935        1012               -62       223
 PEP-022   403424       704935        1012               -42       223
 PEP-023   403245       704927        969                -50       43
 PEP-024   403245       704927        969                -78       43
 PEP-025   403369       704888        1001               -45       43
 PEP-026   403339       704955        1008               -63       50
 PEP-027   403468       704909        1003               -46       228
 PEP-028   403398       704957        1012               -58       223
 PEP-029   403311       705018        1011               -50       50
 PEP-030   403311       705018        1011               -50       000
 PEP-031B  403486       704901        998                -52       220
 PEP-032   403431       704861        982                -60       15

 

*  Coordinates WGS84, UTM Zone 18

 

 

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,
several small exploitation permits and a large number of licence applications,
totalling 399km2, in the prolific Mid-Cauca belt of Colombia.

 

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.

 

All drill core is HQ.

 

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.
Intersections are quoted as downhole thicknesses.  True thicknesses are
unknown.

 

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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