REG - Orosur Mining Inc - Opening new fronts at Anzá

Orosur MiningAnnouncement

10/03/2025 07:00

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RNS Number : 9750Z  Orosur Mining Inc  10 March 2025

 

 

 

Orosur Mining Inc - opening new fronts at Anzá

 

·    Assays from five more holes at Pepas, including:

o PEP025 - 62.5m @ 5.4g/t Au

o PEP026 - 28.4m @ 2.52 g/t Au

o PEP027 - 79.15m @ 2.0g/t Au

·    Aeromagnetic survey commenced over Pepas

·    Access north of Pepas being developed

·    Pepas metallurgical samples submitted for preliminary analysis

·    Planning advanced major soil program at El Cedro

 

 

London, March 10th, 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 ("Project") in
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 is located 50km west of Medellin and is easily accessible by
all-weather roads 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.

 

As such, the Company has only been back in control of the Project for less
than four months.

 

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.

 

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.

 

Later holes were then rotated 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 PEP027) have all intersected
substantial sequences of gold mineralisation, largely from surface, thus far
manifested as a thick wedge of silicified tuffs within the keel of two
converging faults.  Chemical analysis suggests the mineralisation to be
possibly a variant of a high sulphidation epithermal style, but with just over
1100m drilled thus far, there is yet insufficient information to fully define
its genesis, structural controls or source.  By definition, this style of
mineralisation, is the shallower expression of a deeper source, which has yet
to be examined as drilling has focussed on the high grade near surface
material.

 

Figure 2.  Plan of holes

 

Of these current five holes, two (PEP023 and PEP024) were drilled some
distance from the currently defined core deposit, to test a small, medium
grade outcrop of silicified material.  Moderate intersections were recorded
in complex series of veins in a different domain to previous drilling.  This
opens up a new target and will require more work.

 

Hole PEP025 was drilled on section with PEP014, 021 and 022, to complete this
section and to better define a central high-grade core around which a future
resource might be developed.

 

Hole PEP026 was drilled in the NW end underneath the discovery hole PEP001, to
test a structure identified in early drilling.  Broken ground was intersected
in shallower sections, before a substantial gold intersection lower in the
hole.

 

PEP027 was drilled beyond the SE margin of previous drilling to test the depth
extent of a large, silicified outcrop that was mapped to the south of the
current area of focus, with a substantial thickness of gold mineralisation
being intersected.  The nature of this material suggests a later phase of
mineralisation from the two main events seen to date, one that is slightly
lower in grade than that so far defined.  However, this zone appears thick
and on surface, outcrop extends some distance southward and will be followed
up in later drilling extending southward.

 

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

 

 Hole Number     From (m)     To (m)     Interval (m)    Au (g/t)
 PEP023          0            15         15              1.7
                 35.4         45.5       10.1            0.54
 PEP024          9.24         15.6       6.35            1.99
                 34.6         42.5       7.9             0.42
 PEP025          0            10.1       10.1            1.46
                 16.5         79         62.5            5.4
 including       33.6         42.1       8.5             22.54
                 58.8         69.2       10.4            6.3
 PEP026          0            14.8       14.8            0.57
                 43.6         72         28.4            2.52
 including       53.3         56.85      3.55            8.04
                 63.8         69.7       5.9             4.38
 PEP027          1            80.15      79.15           2.0
 including       19.1         41.35      22.25           3.48

Table 1. Drill Intercepts

 

Discussion

Drilling thus far has been largely focussed within an area of roughly 150m x
150m.  This has been done intentionally, both because the thick, high-grade
mineralisation is potentially amenable to being moved to an economic resource
very quickly, even within a small area, but also to allow time for development
of targets and physical access toward the north where previously announced
surface geochemistry has suggested substantial extension potential.

 

As announced on February 4(th) 2025, previous surface geochemistry collected
by MMA, has identified a large, highly anomalous region to the north of the
current Pepas mineralisation. Company geological teams have begun to expand on
this work, resulting in the identification of a large, highly mineralised
channel sample some 200m north of the limit of current drilling (Figure 4).

 

The Company is advanced in planning to move the drill rig into this zone,
however this requires not only greater geological understanding to direct
drilling, but also the development of physical access for rigs and machinery.

 

While access work continues, the Company has just begun a drone aeromagnetic
survey over the Pepas area, designed to provide high resolution geophysical
data to assist in increasing understanding of the structural architecture of
the Pepas deposit.  This survey is expected to be completed within a week,
with data being made available later in March.  It is hoped these data may
shed light on the sense of movement of later faults that would seem to have
broken up the mineralisation, as well as providing vectors to a deeper source.

 

 

Figure 4.  Pepas soil sampling

 

 

Metallurgy

Last week a bulk composite sample of Pepas mineralisation was sent to a
metallurgical laboratory in Canada for the first phase of metallurgical
testing for Pepas.  This work will be preliminary in nature, designed to
provide guidance and parameters for future feasibility related metallurgical
work.

 

Holes Drilled post MMA transaction

14 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

Table 2.  Results to date, post MMA transaction

 

 

El Cedro

The El Cedro (and El Roble) 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 5).

 

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

 

The Company is currently in the advanced stages of logistical planning and
socialisation to allow a large-scale sampling program to commence as soon as
possible.  Work will concentrate on confirmation of the previous phases of
work by Anglo American and MMA and expanding the scope with ridge and spur
soil sampling over a 2km x 2km area.

 

It is hoped work can commence in March.

 

Figure 5. El Cedro Sampling - historical and planned - over airborne magnetics

 

 

Orosur CEO Brad George commented:

"Anzá has come a long way in no time at all.  Pepas began with a bang and is
now well into the phase of serious geological work to assess its size and
metallurgical characteristics.  In parallel, we are now commencing work at El
Cedro to hopefully confirm this as a large gold porphyry system. Added to APTA
and El Pantano we hope to soon have multiple major gold irons in the fire
during a bouyant gold market - all owned 100%."

 

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

 

*  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, a
small exploitation permit 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.

 

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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