REG - Orosur Mining Inc - Orosur Completes Phase one of El Pantano JV

Orosur MiningAnnouncement

17/02/2025 07:00

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RNS Number : 3258X  Orosur Mining Inc  17 February 2025

 

 

 

            Orosur Completes Phase one of El Pantano JV, Argentina

 

·    The Company successfully completes Phase one of its exploration JV
over the El Pantano gold exploration project in Santa Cruz province,
Argentina.

 

·    Company now owns 51% of the Project after having invested US$1m.

 

·    Company can now move to 100% ownership of the Project by investing an
additional US$2m over two years.

 

London, February 17(th), 2025. Orosur Mining Inc. ("Orosur" or the "Company")
(TSXV/AIM:OMI), is pleased to announce successful completion of the first
phase of a two phase exploration joint venture ("JV") over the El Pantano gold
project in Santa Cruz province, Argentina ("Project" or "El Pantano"). This
milestone marks a significant step forward in the Company's strategic
development of the Project.

 

Having invested US$1m over three years, the Company has now earned a direct
51% interest in the Argentine company, Deseado Dorado S.A.S ("Deseado"), that
owns the exploration licences that make up the Project.

 

The Company can now move to the second phase of the JV, that could see it move
to 100% ownership of Deseado upon investment of an additional US$2m over two
years.  Upon such an outcome, the original vendors would then retain a
residual 2% NSR royalty, 1% of which the Company could repurchase at its
election for US$1m.

 

El Pantano is an early-stage gold/silver exploration project in Santa
Cruz province, southern Argentina. The Project comprises a number of
contiguous, granted exploration licences totalling some 560km(2) in the
prolific Deseado Massif geological province. The Deseado Massif plays host to
a number of world class gold and silver deposits, including Newmont's Cerro
Negro mine and Anglo Gold's Cerro Vanguardia operation.

 

The Project was in an early-stage, greenfield state, having seen little or no
historical exploration before commencement of the JV in early 2022. However,
Company geological teams felt the Project held enormous potential on the basis
of regional geological data, suggestive of the presence of a large epithermal
system.

 

Over the last three years, the Company's geological teams have been
methodically undertaking base level geoscience surveys including ground
magnetics, geological mapping and surface geochemistry. These data support
the rift-related low-sulphidation epithermal model, with identification of a
25km long rift structure with pervasive silicification, quartz veining and
geochemical anomalism over a huge area.

 

The Company is to soon commence induced polarisation surveys ("IP") designed
to define silicified drill targets.

 

 

 

 

 

Orosur CEO Brad George commented:

 

"We are delighted to have reached this key stage in the Exploration Agreement.
In particular we see the work to date as tremendous testament to the value of
back to basics, grass roots exploration - taking an unwanted, untouched
region, doing the work, and transforming it into a huge and extraordinarily
exciting prospect in a world class province at a time of record gold prices.
Together with our partners we are starting to prepare for Phase 2 of the
Project, and we look forward to accelerated exploration activities"

 

 

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.

 

About Orosur Mining Inc.

 

Orosur Mining Inc. (TSXV: OMI; AIM: OMI) is a minerals explorer and developer
currently operating in Colombia, Argentina and Nigeria.

 

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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