REG - Orosur Mining Inc - Positive Drill Results Continue at Anzá

Orosur MiningAnnouncement

13/12/2024 07:00

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RNS Number : 9313P  Orosur Mining Inc  13 December 2024

 

 

 

Orosur Mining Inc - Positive Drill Results Continue at Anzá

 

·    Assays from third hole (PEP014) received.

·    Composite intersection of 75.1m @ 5.58g/t Au from surface.

 

London, December 13th, 2024. 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 recent 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,
communications as well as a large exploration camp.

 

Pepas

The Pepas Prospect is in the northern extent of the Anzá Project
(pre-acquisition) over 10km north of the central base at APTA (Figure 1).

 

Figure 1.  Anzá Project - prospects

Post completion of the transaction to buy its previous JV partner, MMA, the
Company began drilling at the Pepas prospect in mid-November 2024.

 

Drilling commenced with hole PEP012, which was positioned to confirm previous
high-grade results in hole PEP001, drilled by MMA in 2022.

 

Holes PEP013, 014 and 015 were then rotated some 51 degrees eastward from
PEP012 to begin to test what was considered by the Company's geological teams
to be the controlling trend of SE to NW. As well as defining thick zones of
high-grade mineralisation, a target for these holes was a clearly defined
basement fault that seemed to act as a distinct marker bed to define the
trend.

 

 

Figure 2.  Plan of holes

 

PEP014 entered mineralised tuffs just below surface, and continued in high
grade mineralisation until the basement fault was intersected at 75m. The hole
was terminated at 78m.

Figure 3. Section, PEP014

 

Most of the length of PEP014 above the fault, was mineralised with a composite
intersection of 75.1m @ 5.58g/t Au being calculated, from surface.

 

 Hole Number     From (m)     To (m)     Interval (m)    Au (g/t)
 PEP014          0            75.1       75.1            5.58
 including       12.85        24.35      11.5            8.34
 including       30.25        44.2       13.95           13.68

Table 1. Drill Intercepts

 

 

Discussion and ongoing drilling

Holes PEP013 through PEP015 all intersected the basement fault roughly where
expected, providing substantial weight to the interpreted trend. Assays from
Hole PEP015 are currently with the lab for analysis.

 

Hole PEP016 is currently underway and is directed on the same azimuth, but
positioned some distance to the SW, to test the mineralisation, overburden and
structure down dip (Figure 2).

Orosur CEO Brad George commented:

"Results from PEP014 continue the story that there is something at Pepas. Work
to date has been very geologically focussed in trying to define trends and we
now think we have some inkling so we look forward to progressing our drill
programme and developing this picture."

 

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 / Caroline Rowe

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-16     403326       704912        999                -50       43

 

*  Coordinates WGS84, UTM Zone 18

** Preliminary coordinates with handheld GPS. To be later verified by survey

 

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,
four exploration licence applications, and several small exploitation permits,
totalling 176km2 in the prolific Mid-Cauca belt of Colombia. Post the
acquisition of Minera Monte Aguila S.A.S, the area of the Project has
increased substantially to approximately  400km2 due to the acquisition of a
number of additional applications that were owned by Minera Monte Aguila
S.A.S.

 

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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