REG - Orosur Mining Inc - Pepas moving into MRE drilling programme

Orosur MiningAnnouncement

14/07/2025 07:00

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RNS Number : 8172Q  Orosur Mining Inc  14 July 2025

 

 

 

Orosur Mining Inc - Pepas moving into Mineral Resource Estimate drilling
within wider exploration programme

 

·    Orosur moving to parallel streams - exploration and resource
drilling.

·    Rig now infill drilling Pepas as precursor to MRE.

·    Decision based on positive conceptual studies.

·    Geological consultants on site to develop required geological models
for both Pepas and APTA.

 

London, July 14th 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.

 

The Company announces that it has taken the formal decision to begin a work
program that, if successful, is designed to allow a Mineral Resource Estimate
(MRE) to be calculated at its Pepas gold prospect, within the Anzá gold
project area in Colombia.

 

This decision has been taken on the basis of external conceptual studies that
suggest the location and physical characteristics of the gold mineralisation
so far defined at Pepas, in the context of record high gold prices, may offer
potential nearer term production opportunities.

 

This decision does not stop exploration at Pepas, the wider Anzá project or
the Company's El Pantano project in Argentina. The Company is confident that
both exploration and resource definition streams can be run in parallel within
the limits of the Company's financial, human and technical resources. The
primary impact is that the single drill rig currently employed on the Project
has been diverted toward infill drilling within the current boundary of known
high grade gold mineralisation at Pepas. During this time, geological studies
and additional surface field work will be undertaken at Pepas and other
prospects so that targets are ready for the rig to move back to regional
exploration once the resource infill is completed.

 

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.

 

 

 

Pepas and North Pepas Prospects

The Pepas prospect is in the far north of the Anzá project and was discovered
by the Company's previous JV partners, 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.

 

 

Since reassuming control of the Project in December 2024, the Company has
released assay results from 26 holes (PEP012 to PEP037), most of which were
concentrated in and around the central core of near-surface high-grade gold
mineralisation.

 

Figure 3.  Plan of holes, core Pepas zone.

 

This small, but thick and high-grade zone of mineralisation has developed very
quickly since the Company reassumed control, and while the surrounding areas
remain largely unexplored, the Company feels that what has thus far been
defined is worthy of economic study, especially in the current gold price
environment.

 

 

Geological Modelling and Economic Studies

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

 

The characteristics of Pepas that encouraged the Company to begin the process
of conceptual study are its high grade, surficial nature, thickness,
availability of power to site, proximity to the main regional highway without
having to pass through villages, and the existence of numerous nearby mines
and processing facilities that might offer the opportunity for third party
toll treating.

 

The Company carried out its own internal geological resource models and
high-level concept studies, the results of which the Company felt were
sufficiently positive that it then engaged an external mineral consulting firm
to model preliminary pit shells in order to assess if Pepas warranted further
study. The results of this high-level conceptual study were positive and have
led to the Company making the formal decision to examine Pepas in more detail,
with the ultimate objective of determining if a near term production option
can be developed at Pepas in its current form.

 

Resource Drilling

The first stage in this process is the creation of a Mineral Resource Estimate
(MRE) at Pepas, that can then be used as the basis for later economic
evaluation. To that end, one of the outputs of recent work was the development
of an infill drilling plan that, if successful, could be sufficient to allow
an MRE to be calculated.  Ultimately, the amount of drilling required to
develop an MRE will be subject to results and may be modified during the
infill drilling process.  However, at this preliminary stage, the Company
feels that between 1,500m and 2,000m of additional drilling should be
sufficient.

 

The single drill rig that the Company has on site at Anzá, has been moved
back to infill drilling at Pepas. On current production rates, it is expected
that this plan should be completed in November 2025, assuming no major
modifications being necessary following analysis of results.

 

Once completed, subject to results and the availability of consultants for the
required QAQC visits to the Project, the Company is targeting December 2025
for completion of this process and publishing of an MRE at Pepas.

 

Geological Assessment

In addition to drilling information, an MRE, in accordance with NI43-101, also
requires a robust and defensible geological model to underpin the
interpolation and extrapolation of information between and beyond drill
holes.  To date, the Company has not been able to develop such a model at
Pepas due to the speed with which drilling and results have progressed since
the Company reassumed control in December 2024.  Drilling thus far has
focussed on defining a shallow, potentially economic orebody, with Company
drilling since December 2024 limited to some 80m vertical depth.

 

To satisfy this MRE requirement, an external geological consultant,
specialising in structural geology and metamorphic petrology, has travelled to
the Anzá project to spend several weeks with Company geological staff
examining all of the historical drilling undertaken at Pepas and APTA since
the Company acquired the project in late 2014.

 

The objectives of this visit and program are three-fold:

1.   Develop a geological model to underpin a potential MRE at Pepas.

2.   Understand the wider Pepas epithermal system, and in particular, define
the litho-structural controls upon the exceptionally high-grade mineralised
zone at Pepas and plan a targeting methodology to guide exploration toward
finding repetitions and source feeder zones.

3.   Develop a geological model to explain the controls upon the very
high-grade mineralisation historically defined at the APTA deposit at Anzá to
facilitate an MRE being defined at APTA.

 

 

 

APTA

The APTA deposit lies in the centre of the Anzá project and has been the
subject of most exploration activity on the project, with some 38,000 metres
of drilling having been completed.

 

APTA is thought to be a hybrid mineralised system with an earlier VMS system
being overprinted by later epithermal events.  However, most historical work
at APTA has been undertaken either by the Company's predecessor (Waymar
Resources) or by its previous JV partner (MMA), both of which focussed on
drilling, with minimal geological interpretation.

 

Numerous thick, high-grade gold intersections have been recorded at APTA
(Table 2), that have defined several distinct high-grade ore pods, separated
by lower grade halo material. Internal and external modelling have suggested
that a NI43-101 MRE could potentially be possible at APTA as it stands now,
but with limited understanding of the controls upon these high-grade pods, any
MRE would be conservative. Therefore, one of the objectives of the current
geological site visit by, is to work with internal geological teams to better
understand these high-grade zones and so allow any future MRE to better
reflect the impact of these zones.

 

An outcome of this geological study may be the recommendation for more
drilling to underpin this new geological model, and as such any move toward an
MRE will be dependent upon outcomes of this study and any subsequent work
programs.

 

Wider Exploration Work

As noted, moving Pepas toward an MRE is not a fundamental shift in the
Company's direction, but rather a temporary adjustment to drilling priorities
for several months.  While this process is underway, field mapping and
sampling will continue at other prospects in readiness for the rig moving back
to exploration once the infill is complete.

 

Drilling at Pepas North and elsewhere in the Pepas region has indicated that
Pepas is part of a much larger epithermal system consisting of wider scale low
grade halo mineralisation and at least one discrete high-grade pod. One stated
outcome of the current geological visit is to derive an understanding of the
controls upon the high-grade zones, and as importantly, the likely source
feeder zones. The outcome of this study will likely be a work program of
surface sampling and mapping that may provide drill targets around Pepas.

 

As announced, soil sampling at the El Cedro porphyry system at Anzá has been
delayed due to seasonal rains and road access issues.  Sampling will
recommence once access has been reestablished.

 

The Company's early stage El Pantano gold exploration project in Argentina is
drill ready.  The Company is currently negotiating with local drill companies
and examining options for camps, with a view to commencing drilling before the
end of the calendar year.

 

 

 

 

Best drill intersections at Pepas - previously announced

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)
 PEP001          0            150        150             3
 PEP005          0            36.85      36.85           2.13
 PEP007          0            80.3       80.3            3.05
 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 1.  Best drill intersections, Pepas.

 

 

 

 

Best drill intersections at APTA - previously announced.

 

 Hole Number     From (m)     To (m)     Interval (m)    Au (g/t)
 MAP011          213          219        6               18.26
 MAP020          145          186        41              18.26
 MAP021          224          242        18              14.14
 MAP033          157          179        22              10.42
 MAP036          198          227        29              3.88
 MAP038          172          212        40              14.09
 MAP048          181          195        14              40.37
 MAP054          41           59         18              2.96
                 97           110        13              4.36
                 144          149        5               17.76
 MAP055          177          190        13              4.36
 MAP060          217          240        23              5
 MAP062          217          233        12              5.28
 MAP070          221          233        12              5.28
                 284          298        14              5.02
                 286          292        6               9.62
 MAP072          184          255        71              3.53
 MAP073          271          293        22              6.02
 MAP076          228          240        12              5.39
 MAP079          270          294        24              17.4
 MAP082          227          256        29              2.5
 MAP086          179          183        4               6.12
                 215          234        19              2.85
 MAP089          275          334        59              9.61
 MAP090          180          186        6               9.91
 MAP091          222          284        62              2.05

Table 2.  Best intersections, APTA

 

Orosur CEO Brad George commented:

"The Company has made huge strides in the seven months since reassuming
ownership and control of Anzá. To be now able to consider moving to a MRE and
thence into feasibility in such a short space of time is unheard of, and
testament to the tremendous work by our team on the ground."

 

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
 PEP-033   403431       704861        982                -65       100
 PEP-034   403431       704861        982                -45       315
 PEP-035   403369       704882        996                -45       223
 PEP-036   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.

 

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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