REG - Orosur Mining Inc - Orosur Mining Inc – Pepas Advancing

Orosur MiningAnnouncement

28/05/2025 07:00

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RNS Number : 3124K  Orosur Mining Inc  28 May 2025

 

 

 

Orosur Mining Inc - Pepas Advancing

 

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

o PEP033 - 21.3m @ 5.88 g/t Au from surface

o PEP034 - 59m @ 10.15 g/t Au

o PEP035 - 11.4m @ 2.71 g/t Au from surface

·    First two holes at Pepas North intersect halo.

·    Preliminary technical studies commencing at Pepas.

·    Highly anomalous soil geochemistry at El Cedro

 

London, May 28(th) 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.

 

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.

 

 

Figure 2. Main prospects, licences pre-MMA acquisition

 

 

Pepas and North Pepas 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 Pepas 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.

 

North Pepas is an area several hundred metres north of Pepas where anomalous
rock chip and soil geochemistry has indicated a zone of interest.

 

Figure 3.  Plan of holes

 

Drilling at Pepas, post transaction, has largely concentrated on a small
central core, where a body of high-grade gold mineralisation is being defined
from surface.

 

Hole PEP033 was drilled at the southern extent of Pepas, to gradually extend
mineralisation in this direction. A thick intersection of high-grade
mineralisation (21.3m @ 5.88 g/t Au) was identified from surface, suggesting
potential for extension of Pepas toward the south that will require follow-up.

 

Hole PEP034 was drilled internal to the existing Pepas mineralised body, but
orthogonal to previous drilling, and sub parallel to the Tesorito South fault,
to test continuity of mineralisation from section to section and to assist in
future resource modelling. A thick intersection of extremely high-grade
mineralisation (59m @ 10.15g/t Au) was identified, adding substantially to the
geological understanding of the Pepas body.

 

Hole PEP035 was drilled in the centre of Pepas, but toward the west, outside
the previous mineralised envelope, to test the depth extension of previous
surface mapping. The positive response from this hole (11.4m @ 2.71g/t Au) has
opened up the potential for additional extensions in this direction.

 

Pepas North was identified as an area of potential several hundred metres to
the north of Pepas, by virtue of a number of highly anomalous rock chip and
channel samples.

 

However, these samples, while highly anomalous, contained little geological or
orientation contextual information, and thus initial drilling here was
unguided.

 

Two holes PEP036B and PEP037 were drilled as a scissor pair underneath
previously defined geochemical anomalies.

 

Both holes intersected thick sequences of highly altered and silicified tuffs,
with moderate gold mineralisation similar in nature to the lower grade halo
zones identified around Pepas to the south. This is potentially suggestive
that these holes may be  marginal to a more mineralised system.  Both also
intersected numerous structurally complex zones, with some indication of
having been drilled sub-parallel to the controlling strike.

 

A third hole, PEP038 has been collared orthogonal to these first two holes to
provide additional structural and lithological information.  Once complete,
the rig will move back to Pepas, to allow time for full multi-element
geochemical analysis to be completed on these three holes that, in conjunction
with airborne magnetics and surface sampling, may be of assistance in
vectoring and targeting of later exploration and drilling activities.

 

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

 

 Hole Number     From (m)     To (m)     Interval (m)    Au (g/t)
 Pepas
 PEP033          0            21.3       21.3            5.88
 including       0            7.25       7.25            12.74
 including       15.6         17.5       1.9             11.19
 PEP034          0            8          8               0.87
                 36           95         59              10.15
 including       47.1         71.15      24.05           14.47
 including       82.1         89.8       7.7             14.21
 PEP035          0            11.4       11.4            2.71
 including       5.2          10.1       4.9             4.37
 Pepas North
 PEP036B         0            40.45      40.45           0.62
 including       8.4          22.2       13.8            1.24
 including       8.4          12.4       4               2.36
 PEP037          0            3          3               0.65
                 97.4         111.7      14.3            0.32

Table 1. Latest drill Intercepts, Pepas and Pepas North

 

 

 

Geological Modelling and Economic Studies

Encouraged by the exceptional results at the Pepas prospect, the Company has
begun the process of geological modelling and preliminary economic assessment
at Pepas.

 

While exploration continues across several prospects at Anzá, the Company
feels that the nature of the gold mineralisation thus far defined at Pepas,
could, if proven, underpin a range of development options. The Company does
not at this stage plan to move Pepas to a Mineral Resource Estimate ("MRE"),
or to commence formal feasibility studies, but will focus on very preliminary
technical studies to better understand the optionality of Pepas and to map out
work programs to further explore and advance these options.

 

Several studies have been completed or are underway.

 

The Company has commissioned external consultants to carry out 3D modelling of
the body of mineralisation as it currently stands at Pepas. The purpose of
this work is to compare and contrast with the modelling work done by Company
geologists, to determine if an MRE can be developed and if so, to formulate a
drilling plan to facilitate this.

 

Some months ago, several samples of Pepas core were sent to a metallurgical
laboratory in Canada for preliminary metallurgical testing.  These sample
were not representative of the entire body of mineralisation, and the testing
program was very rudimentary, designed only to test for the existence of
potentially deleterious elements and to carry out a basic recovery test that
could be used to guide later testing.  Results from this work were positive,
with no deleterious element issues being identified and 88% Au recovery being
achieved by simple cyanide leaching at a coarse grind of 120 microns.  More
substantial metallurgical studies would be required in future if the project
advances.

 

 

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.

 

Figure 4. El Cedro Sampling - historical and planned - over airborne magnetics

 

 

Several weeks ago, the Company commenced a large soil sampling program,
planned to cover most of what was thought to be the extent of the porphyry
system.

 

Large soil samples were to be taken at roughly 25m intervals, along ridges and
spurs for ease of access and to ensure soils were residual.  Samples were
sent to both Medellin and Canada for assay.

 

The program was expected to require approximately two months to complete, but
heavy rains and associated landslides have recently prevented access to the
site, with thus far only 28% of the program being completed, largely on the
eastern margin of the prospect. Local government crews are working to repair
the roads, but it is expected that access for OMI teams may not be
re-established for some weeks.

 

However, early assay results have been returned and show highly anomalous
results over large areas along the eastern flank, with substantial areas of
over 0.3 g/t Au in soils, and some samples in excess of 1 g/t Au and 0.5% Cu.

 

 

 

Figure 5. El Cedro soil sample assays and progress

 

Soil samples have been taken at the interface between the B and C soil
horizons, as clays in the C horizon act as collectors for mobile metal ions. A
wider area needs to be sampled to more accurately define the background
levels, however these early results are considered by OMI to be highly
encouraging.

 

Holes Drilled post MMA transaction

26 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
 PEP033          0            21.3       21.3            5.88
 PEP034          36           95         59              10.15
 PEP035          0            11.4       11.4            2.71
 PEP036B         0            40.45      40.45           0.62
 PEP037          0            3          3               0.65
                 97.4         111.7      14.3            0.32

Table 2.  Results to date, post MMA transaction

 

Orosur CEO Brad George commented:

"Pepas is moving nicely, both in terms of expanding the footprint, but also
commencing examination of potential development options.  In addition, while
rains are hampering us at El Cedro, the initial results of high-grade soil
anomalies over such a large area are very encouraging."

 

For further information, visit www.orosur.ca (http://www.orosur.ca) , follow
on X @orosurm or please contact:

 

Orosur Mining Inc

Louis Castro, Executive 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
 PEP-033   403431       704861        982                -65       100
 PEP-034   403431       704861        982                -45       315
 PEP-035   403369       704882        996                -45       223
 PEP-036B  403311       705152        989                -45       30
 PEP-037   403354       705227        958                -50       210

 

*  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, verified and
approved 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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