TIDMOMI
Orosur Mining Inc. ("Orosur" or "the Company") (TSX/AIM: OMI)
the South America-focused gold producer, developer and explorer is
pleased to report new results from the ongoing step-out drill
program at its 100% owned high grade Anzá project in Colombia.
These are the last drill holes (MAP_63 to MAP_71) from the APTA
target in this exploration campaign, with a further five drill
holes planned and currently underway at Charrascala, a highly
prospective and untested target within the broader Anzá land
package.
HIGHLIGHTS
-- Orosur's APTA geological model and understanding has improved and been
validated by current drilling
-- Drilling has extended the mineralized zone a further 95m down dip, to
a total depth of 400m
-- In the South of APTA, mineralization has been recognized at lower
depths
-- APTA mineralization remains open along strike and at depth
-- Notable MAP_70 drill intercepts including:
9.62g/t Au over 6.0m9.42g/t Au over 7.0m23.66g/t Au over
1.0m5.28 g/t Au over 12.0m
Ignacio Salazar, CEO of Orosur, said:
"We are delighted with progress in Colombia. Drilling results at
APTA continue to extend the mineralized area, while also remaining
open along strike and at depth, resulting in a drill tested and
improved geological model for follow-on drilling campaigns.APTA
represents only 10% of the land base of the Anzá project, which
covers over 200km² and contains four additional gold targets.We are
excited to be drilling Charrascala at present and look forward to
testing the broader potential of our additional targets over
time."
Notable results to date from new drilling includes 20 intercepts
from 4 diamond core drill holes focused on expansion drilling at
the APTA deposit. These are highlighted below and include numerous
significant intervals at high grades, including:
Table 1.New assay results from the APTA drill program, Anzá
project
Hole Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Zn (%)
MAP_064 116.00 122.00 6.00 1.57 17.98 1.73
147.00 151.00 4.00 0.84 0.60 0.04
190,00 197.00 7.00 3.45 1.00 3.79
Including 193.00 197.00 4.00 5.43 1.50 6.41
265.00 273.70 8.70 1.67 3.13 5.35
Including 269.00 272.00 3.00 3.43 4.17 6.86
283.70 285.30 1.60 3.18 1.94 3.03
292.00 294.00 2.00 2.04 1.75 5.90
297.00 299.00 2.00 1.03 1.05 2.18
MAP_065 140.00 144.10 4.10 2.22 1.37 0.04
283.30 288.45 5.15 1.24 5.75 0.11
Including 284.30 286.10 1.80 2.70 10.30 0.09
312.00 313.50 1.50 1.05 0.60 0.54
MAP_067 161.70 168.10 6.40 1.74 2.52 0.34
Including 162.80 165.00 2.20 4.14 3.05 0.79
176.40 192.20 15.80 1.07 2.04 0.06
Including 179.00 184.00 5.00 2.24 3.28 0.13
235.00 243.20 8.20 1.36 0.78 0.38
Including 237.00 241.20 4.20 2.09 0.87 0.49
MAP_070 168.00 192.00 24.00 1.84 1.64 1.09
Including 168.00 173.00 5.00 1.66 3.52 4.81
Including 183.00 184.00 1.00 23.66 3.60 0.04
Including 186.00 192.00 6.00 1.16 0.72 0.02
208.00 212.00 4.00 1.13 1.72 0.61
221.00 233.00 12.00 5.28 2.48 1.10
Including 222.00 226.00 4.00 6.38 3.10 2.28
Including 228.00 233.00 5.00 6.99 2.78 0.65
246.00 248.00 2.00 6.28 6.30 1.41
256.00 267.00 11.00 6.35 2.74 1.55
Including 256.00 263.00 7.00 9.42 3.93 2.27
284.00 298.00 14.00 5.02 2.23 1.10
Including 286.00 292.00 6.00 9.62 2.90 1.75
302.00 307.00 5.00 1.57 3.94 1.67
Notes:
1.Significant intervals are chosen based on continuity of
mineralization and gold grade.2.All intervals are reported as
drilled thicknesses; true thicknesses are estimated to be 65-85% of
drilled thicknesses.Gold grades have been calculated based on
weighted averages.
Table 2.Hole location and orientation for the new nine holes
assayed to date.
Hole Northing Easting Elevation Azimuth Dip (°) Total Depth
Number (m) (m) (m) (°) (m)
MAP_063 694239.13 399777.17 933.97 104.00 -55.00 325.20
MAP_064 694712.71 399914.80 1112.00 109.00 -71.00 465.50
MAP_065 694153.43 399745.51 920.82 112.00 -61.00 375.70
MAP_066 695231.42 400081.90 951.00 105.00 -55.00 255.00
MAP_067 694094.00 399729.00 906.00 125.00 -55.00 320.00
MAP_068 695231.77 400081.90 951.00 320.00 -55.00 378.10
MAP_069 694094.00 399729.00 906.00 125.00 -70.00 428.30
MAP_070 694845.65 400075.07 1061.00 270.00 -75.00 339.70
MAP_071 693983.00 399730.00 887.24 120.00 -66.00 305.30
To date, Orosur has completed 18 holes (MAP_54 to MAP_71, Fig.
2) at APTA totaling 6,314m of drilling. Assay results for the first
9 holes were published in the press release dated February 20,
2018. Significant results of the remaining 9 holes at APTA are
included in the table above.
MAP_70 Highlights
Throughout this exploratory drilling campaign, Orosur's
geological understanding has increased and the geological model
updated. As a result of this increased geological confidence,
MAP_70 was drilled, towards the central northern portion of the
APTA deposit, with the aim of testing both the spatial orientation
of the mineralized structure and its continuity down dip. The hole
was successful on both objectives, with results demonstrating that
the mineralized body in this sector of APTA dips to the east. As a
result, continuity along strike can now be more accurately tested
by future drilling. Additionally, MAP_70 demonstrates that
high-grade gold mineralization extends a further 95 meters down
from what was previously the deepest hole in the sector (MAP_60)
resulting in a vertical continuity of high-grade gold
mineralization in the area for over 400m while remaining open at
depth.
Geological interpretation of hole MAP_70, confirming the
mineralized structure to be east-dipping, opens up a new set of
opportunities at the southern part of APTA, where such
interpretation was previously not established.
Figures 1 and 2 below show the cross-section locations, body
geometry, grade and correlation with adjacent previous
drilling.
To view the full release, showing all maps and figures, please
click here.
Near Term Exploration Program
The Anzá project contains four additional high priority targets
with coincident geochemical and geophysical anomalies (Fig. 3).
After APTA, the next highest priority target at present is
Charrascala, which is located approximately 1.5 km to the west of
APTA. Charrascala is defined by an extensive coincident gold in
soil and magnetic anomaly that is approximately 3 km north-south by
1 km east-west and localized along a potential north-south
structure. Surface mapping and sampling combined with interrogation
of geophysical data sets share similar attributes to APTA.
Given the continued validation of APTA's geological model by
recent drilling, the last phase of this current exploration
campaign is focusing on Charrascala with the aim of demonstrating
the larger mineral potential of the broader Anzá project. To date,
Orosur has completed three drill holes at Charrascala and plans to
drill a further two in this campaign, for a total of five holes.
Assay results of these five drill holes are expected to be received
during May 2018 and announced shortly thereafter.
To view the full release, showing all maps and figures, please
click here.
Quality Control and Reporting Protocols
This initial drill program recovered HQ/HQ3 core which was
logged, split in half for sampling, with the remainder stored for
reference in the secure core facility at Finca El Vergel, Anzá,
Antioquia, Colombia. Samples are delivered to SGS lab and ALS lab
both in Medellín, Antioquia, Colombia (ISO/IEC 17025), for
analysis. At the Laboratory, samples are analyzed for gold by
traditional fire assay with atomic absorption finish, with those
samples returning >5 g/t gold repeated using a 50g aliquot and
gravimetric finish. Samples are also analyzed for multi-elements
including silver, cobalt, copper and zinc by total digestion ICP at
the same labs. Selected samples will also be re-assayed by metallic
sieve methods using up to a 350 g aliquot, based on gold and
sulfide content.
Drill program design, Quality Assurance/Quality Control
("QA/QC") and interpretation of results is performed by qualified
persons employing a QA/QC program consistent with NI 43-101 and
industry best practices. Standards, duplicates, and blanks are
added at the lab as well as standards, blanks and duplicates
submitted as unknowns by the Company every ten samples.
Approximately 5% of sample pulps are sent to secondary laboratories
for check assay.
Assays are reported as composited intervals using length
weighted averages, with highly enriched zones reported separately.
Assays are uncut at this time. Applicable true widths are
determined by ongoing investigation of the continuity and geometry
of zones and are typically expected to be 65% to 85% of the
reported core lengths.
Qualified Person
The technical information related to the current assets of
Orosur Mining in this announcement has been reviewed and approved
by independent Mining engineer Miguel Fuentealba, a qualified
person as defined by National Instrument 43-101.
About Orosur Mining Inc.
Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a fully integrated
gold producer, developer and explorer focused on identifying and
advancing gold projects in South America. The Company operates the
only producing gold mine in Uruguay (San Gregorio) and has
assembled an exploration portfolio of high quality assets in
Uruguay, Chile and Colombia.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service, this inside
information is now considered to be in the public domain. If you
have any queries on this, then please contact Ignacio Salazar,
Chief Executive Officer of the Company (responsible for arranging
release of this announcement) on: +1 (778) 373-0100.
Forward Looking Statements
All statements, other than statements of historical fact,
contained or incorporated by reference in this news release,
including any information as to the future financial or operating
performance of the Company, constitute "forward-looking statements"
within the meaning of certain securities laws, including the "safe
harbour" provisions of the Securities Act (Ontario) and 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. There can be no assurance that such statements
will prove to be accurate. Such statements are subject to
significant risks and uncertainties, and actual results and future
events could differ materially from those anticipated in such
statements. Forward-looking statements include, without limitation
success of exploration activities; permitting time lines; the
failure of plant; equipment or processes to operate as anticipated;
accidents; labour disputes; requirements for additional capital
title disputes or claims and limitations on insurance coverage. 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.
Orosur Mining Inc Ignacio Salazar, Chief Executive Officer
info@orosur.ca Tel: +1 (778) 373-0100 or Cantor Fitzgerald Europe -
Nomad & Joint Broker David Porter/Keith Dowsing Tel: +44 (0) 20
7894 7000 or Numis Securities Limited - Joint Broker John Prior /
James Black / Paul Gillam Tel: +44 (0) 20 7260 1000
View source version on
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(END) Dow Jones Newswires
April 04, 2018 02:00 ET (06:00 GMT)
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