TIDMOMI
RNS Number : 9387D
Orosur Mining Inc
08 March 2022
Orosur Mining Inc - Colombia update
-- Assays from four additional holes - MAP- 097, 098, 099, 100.
-- High grade gold intersections - 6.06m @ 2.72g/t Au, 14.2m @
1.84 g/t Au, 8.35m @ 14.27 g/t Au, and 59.15m @ 0.91 g/t Au.
-- Including a potential new area at depth in Anza.
-- High-grade rock samples in new southern targets.
-- Plans and permitting advancing for drilling new targets
London, March 8th, 2022 . 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.
As previously announced, Monte Águila (the JV between Newmont
Corporation and Agnico Eagle Mines Limited) assumed control of the
Project in Q4 2021 after a major 10,000m drilling program which saw
up to five drill rigs operating at Anza. During the hand over
process, all drill rigs demobilised as part of a planned changeover
to a different drill contractor and rig design (man portable). One
new rig was mobilised to focus on drilling regional and deep
stratigraphic holes in order to test a variety of geological
concepts to assist future targeting.
With drilling wound back, geological effort shifted to regional
mapping and sampling at the northern and southern extremes of the
Project that could not be previously reached due to Covid-19
related restrictions on personnel movement.
Results from these activities are extremely positive and several
high priority prospects have been defined. It is expected that
drilling activities will soon resume once the required permitting
has been completed.
For the full PDF version of the announcement with Figures 1-4
included, please refer to:
http://www.rns-pdf.londonstockexchange.com/rns/9387D_1-2022-3-7.pdf
Drilling
Assay results for four diamond drillholes have been received
from the ALS laboratory in Lima, Peru - MAP-097, 098, 099 and 100.
Key intersections are noted below.
MAP-097 4.35m @ 1.63g/t Au, 2.00g/t/Ag, 0.71% Zn
MAP-098 6.05m @ 2.72g/t Au, 3.01g/t Ag, 0.74%Zn
14.2m @ 1.84g/t Au, 3.57 g/t Ag. 0.59% Zn
8.36m @ 14.27g/t Au, 49.92g/t Ag, 3.93% Zn
MAP-100 59.15m @ 0.91g/t Au, 3.88g/t Ag, 0.39% Zn
Full results are noted below.
Hole Number From (m) To (m) Interval Au (g/t) Ag (g/t) Zn (%)
(m)
MAP097 242.90 253.75 10.85 0.46 2.24 0.20
--------- ------- --------- --------- --------- -------
including 243.75 244.70 0.95 1.21 15.90 0.40
--------- ------- --------- --------- --------- -------
MAP097 258.05 260.50 2.45 0.62 1.97 0.06
--------- ------- --------- --------- --------- -------
MAP097 262.40 276.50 14.10 0.75 1.21 0.31
--------- ------- --------- --------- --------- -------
including 263.70 268.05 4.35 1.64 2.00 0.71
--------- ------- --------- --------- --------- -------
MAP097 307.20 351.10 43.90 0.24 2.65 0.09
--------- ------- --------- --------- --------- -------
MAP097 370.20 373.45 3.25 0.24 1.94 -
--------- ------- --------- --------- --------- -------
MAP097 393.70 396.95 3.25 0.24 1.87 -
--------- ------- --------- --------- --------- -------
MAP098 64.35 67.85 3.50 0.38 3.36 -
--------- ------- --------- --------- --------- -------
MAP098 216.10 217.60 1.50 0.82 1.01 0.01
--------- ------- --------- --------- --------- -------
MAP098 268.05 274.10 6.05 2.72 3.02 0.74
--------- ------- --------- --------- --------- -------
including 270.05 270.45 0.40 16.75 8.12 0.55
--------- ------- --------- --------- --------- -------
including 272.75 273.10 0.35 13.2 7.58 0.20
--------- ------- --------- --------- --------- -------
MAP098 288.20 292.80 4.60 1.68 5.39 2.56
--------- ------- --------- --------- --------- -------
including 290.10 292.25 2.15 3.16 5.99 2.31
--------- ------- --------- --------- --------- -------
including 290.10 290.55 0.45 5.81 5.04 2.73
--------- ------- --------- --------- --------- -------
including 291.55 291.90 0.35 5.61 3.28 2.82
--------- ------- --------- --------- --------- -------
MAP098 315.20 329.40 14.20 1.84 3.57 0.59
--------- ------- --------- --------- --------- -------
including 315.20 316.70 1.50 7.33 24.92 4.42
--------- ------- --------- --------- --------- -------
including 319.90 322.45 2.55 4.08 1.40 0.13
--------- ------- --------- --------- --------- -------
MAP098 349.15 353.60 4.45 0.45 0.67 0.06
--------- ------- --------- --------- --------- -------
MAP098 366.35 374.70 8.35 1.03 2.96 0.14
--------- ------- --------- --------- --------- -------
including 369.95 374.10 4.15 1.53 3.23 0.26
--------- ------- --------- --------- --------- -------
MAP098 508.00 508.60 0.60 7.22 4.81 3.00
--------- ------- --------- --------- --------- -------
MAP098 509.30 509.85 0.55 1.65 1.02 0.78
--------- ------- --------- --------- --------- -------
MAP098 515.30 515.75 0.45 8.32 4.01 1.04
--------- ------- --------- --------- --------- -------
MAP098 516.55 520.00 3.45 0.27 1.17 -
--------- ------- --------- --------- --------- -------
MAP098 524.25 532.60 8.35 14.27 49.92 3.94
--------- ------- --------- --------- --------- -------
including 525.25 528.70 3.45 29.78 115.01 6.31
--------- ------- --------- --------- --------- -------
including 526.95 528.70 1.75 46.19 220.4 9.67
--------- ------- --------- --------- --------- -------
including 530.45 532.60 2.15 7.10 7.12 4.91
--------- ------- --------- --------- --------- -------
including 531.90 532.60 0.70 14.10 5.62 5.41
--------- ------- --------- --------- --------- -------
MAP098 537.85 538.55 0.70 0.90 0.65 -
--------- ------- --------- --------- --------- -------
MAP098 539.35 543.50 4.15 0.25 1.26 -
--------- ------- --------- --------- --------- -------
MAP098 555.25 557.90 2.65 0.85 1.30 0.92
--------- ------- --------- --------- --------- -------
MAP098 559.10 560.05 0.95 0.53 1.09 0.92
--------- ------- --------- --------- --------- -------
MAP098 561.95 563.10 1.15 2.86 1.38 0.66
--------- ------- --------- --------- --------- -------
including 562.25 562.60 0.35 7.33 2.46 1.61
--------- ------- --------- --------- --------- -------
MAP098 593.40 594.35 0.95 0.98 2.58 1.12
--------- ------- --------- --------- --------- -------
MAP098 660.90 672.60 11.70 0.51 1.89 0.01
--------- ------- --------- --------- --------- -------
including 667.95 669.20 1.25 1.98 2.26 0.01
--------- ------- --------- --------- --------- -------
MAP099 No significant results
------------------------------------------------------------
MAP100 190.90 192.10 1.20 2.51 29.20 0.26
--------- ------- --------- --------- --------- -------
MAP100 195.9 202.45 6.55 0.91 12.3 0.11
--------- ------- --------- --------- --------- -------
including 196.65 199.25 2.6 1.5 19.85 0.06
--------- ------- --------- --------- --------- -------
including 196.65 197.45 0.8 2.33 22.4 0.07
--------- ------- --------- --------- --------- -------
MAP100 226.75 228.45 1.7 2.31 1.37 0.39
--------- ------- --------- --------- --------- -------
including 227.5 228.45 0.95 3.56 1.80 0.65
--------- ------- --------- --------- --------- -------
including 227.5 227.9 0.4 4.98 2.08 0.63
--------- ------- --------- --------- --------- -------
MAP100 243.6 302.75 59.15 0.91 3.89 0
--------- ------- --------- --------- --------- -------
including 255.85 258.95 3.1 1.39 2.74 0.50
--------- ------- --------- --------- --------- -------
including 262.6 265.5 2.9 8.72 8.72 3.80
--------- ------- --------- --------- --------- -------
including 264.4 264.8 0.4 20.10 8.28 2.45
--------- ------- --------- --------- --------- -------
including 264.8 265.5 0.7 9.01 6.27 8.47
--------- ------- --------- --------- --------- -------
including 297.25 300.45 3.2 1.83 4.35 0.41
--------- ------- --------- --------- --------- -------
including 299.4 299.85 0.45 4.95 8.55 1.32
--------- ------- --------- --------- --------- -------
MAP100 312.6 319.35 6.75 0.26 3.01 0.04
--------- ------- --------- --------- --------- -------
Table 1. Drill Intercepts.
Fig 1. Plan of drill collar locations
MAP-097 and MAP-098
Holes MAP-097 and 098 (Fig. 2) were a pair of deep scissor holes
drilled from opposing directions to depths of 647m and 696m,
respectively at APTA.
The dual objective of these two holes were largely
stratigraphic, to assess geology at depth and to continue to
examine the geological concept of the main mineralised horizons
folding over as an anticline.
These holes would seem to have confirmed the folding hypothesis,
but of most interest was the intersection in MAP-098 of a
previously unknown, thick, high-grade structure (8.35m @ 14.27g/t
Au, 49.92g/t Ag, 3.93%Zn), over 100m below any previous anomalous
intersections, with an additional lower grade intersection over
100m further down again. The considerable distance from previous
drilling is highly encouraging as it opens up large areas at depth
as being potentially of interest, however, more drilling will now
be required to confirm this.
Fig 2. Holes MAP-097 and 098
MAP-099
MAP-099 (depth 418m) was drilled to the west of APTA, largely as
a stratigraphic hole to define the local geology in order to assist
in future work. No significant assays were returned, but the hole
provided substantial geological information.
MAP-100
MAP-100 (depth 360m) (Fig. 3) was drilled to provide greater
geological context to high-grade results previously intersected in
MAP-089.
The hole was successful in confirming previous results, but also
demonstrated a very thick zone of lower grade mineralisation
returning 59.15m @ 0.91g/t Au, 3.88g/t Ag, 0.39% Zn, which included
higher grade zones of gold and base metals.
Fig 3. Hole MAP-100
Surface work - mapping and sampling
Following completion of the initial 10,000m drill program in Q3
2021, and the operational handover of the Project, the focus of
geological work shifted to regional mapping and sampling. The
objective of this work was to define high quality targets that
could be drilled once Covid-19 had abated and free movement of
staff could resume.
As shown in Fig 4, recent work has delineated highly anomalous
results in the NE granted tenements at Pupino and Pepas, with
multiple rock chip assays over extensive areas, returning results
in excess of 1.5g/t Au.
In addition, the most recent phase of sampling in the south at
Guaimarala has identified a similarly extensive area of highly
anomalous gold mineralisation at surface, with some samples
returning assays of multiple g/t Au.
The high priority targets of La Cejita and Jesuitas, not being
in granted titles, have only been covered in a cursory fashion,
however anomalous rock chip samples have been noted.
Fig 4. Soil and Rock Sampling 2020-2021
Planning for Drilling
These targets are now nearing the stage of requiring drill
testing. The process of permitting (land access and water use) and
the development of the required access is now well advanced. Exact
timing of the commencement of drilling is dependent upon the
outcome of the permitting process and will be communicated when
more details become available.
Orosur CEO Brad George commented:
"Handing over operating control of Anzá was a complex and
protracted process, slowing work and news flow. However, this
effort was a necessary component of the evolution of the Project
and is now reaping rewards as our major partners ramp up
activities.
Covid-19 has now abated in the region to the extent that field
activities can be undertaken more freely, and we look forward to
major drill campaigns restarting on the exciting prospects that
have been defined."
F or further information, 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 3 470 0470
Turner Pope Investments (TPI) Ltd - Joint Broker
Andy Thacker
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 Regulation ("MAR " ). Upon the publication of this
announcement via Regulatory Information Service, this inside
information is now considered to be in the public domain .
Drill Hole Details - 2020/2021 Programme*
Hole ID Easting Northing Elevation Dip (deg) Azimuth
(m) (m) asl (m) (deg)
MAP-072 400088 694745 1075 -55 293
-------- --------- ---------- ---------- --------
MAP-073 400018 694503 1097 -58 295
-------- --------- ---------- ---------- --------
MAP-074 399981 694684 1110 -58 295
-------- --------- ---------- ---------- --------
MAP-075 400168 694723 1024 -55 295
-------- --------- ---------- ---------- --------
MAP-076 400019 694527 1107 -50 295
-------- --------- ---------- ---------- --------
MAP-077 400168 694723 1024 -69 295
-------- --------- ---------- ---------- --------
MAP-078 399917 694719 1112 -50 295
-------- --------- ---------- ---------- --------
MAP-079 399995 693976 960 -55 295
-------- --------- ---------- ---------- --------
MAP-080 400231 694580 966 -55 295
-------- --------- ---------- ---------- --------
MAP-081 400045 693950 920 -55 295
-------- --------- ---------- ---------- --------
MAP-082 400176 694797 1020 -50 296
-------- --------- ---------- ---------- --------
MAP-083 400176 694797 1020 -60 310
-------- --------- ---------- ---------- --------
MAP-084 400045 693950 920 -57 321
-------- --------- ---------- ---------- --------
MAP-085 400167 694552 1000 -46 247
-------- --------- ---------- ---------- --------
MAP-086 400067 694360 1068 -54 295
-------- --------- ---------- ---------- --------
MAP-087 400027 694168 988 -54 290
-------- --------- ---------- ---------- --------
MAP-088 400168 694723 1024 -55 341
-------- --------- ---------- ---------- --------
MAP-089 400067 694360 1068 -59 317
-------- --------- ---------- ---------- --------
MAP-090 400041 694630 1059 -56 296
-------- --------- ---------- ---------- --------
MAP-091 400060 694715 1089 -50 295
-------- --------- ---------- ---------- --------
MAP-092 399420 695235 1162 -50 138
-------- --------- ---------- ---------- --------
MAP-093 400055 694203 1006 -59 290
-------- --------- ---------- ---------- --------
MAP-094 399954 694347 1031 -64 303
-------- --------- ---------- ---------- --------
MAP-095 399722 695252 1113 -50 135
-------- --------- ---------- ---------- --------
MAP-096 399759 694632 1082 -57 127
-------- --------- ---------- ---------- --------
MAP-097 400054 694472 1087 -71 311
-------- --------- ---------- ---------- --------
MAP-098 399794 694730 1149 -65 130
-------- --------- ---------- ---------- --------
MAP-099 399098 695129 1157 -50 250
-------- --------- ---------- ---------- --------
MAP-100 400096 694431 1051 -59 283
-------- --------- ---------- ---------- --------
* Coordinates WGS84, UTM Zone 18
About Orosur Mining Inc.
Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious metals
developer and explorer focused on identifying and advancing
projects in South America. The Company operates in Colombia,
Argentina and Brazil.
About the Anzá Project
Anzá is a gold exploration project, comprising three exploration
licences, four exploration licence applications, and several small
exploitation permits, totalling 207.5km2 in the prolific Mid-Cauca
belt of Colombia.
The Anzá Project is currently wholly owned by Orosur via its
subsidiary, Minera Anzá S.A.
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.
The Anza Project is subject to an Exploration Agreement with
Venture Option dated September 7th, 2018, as announced on September
10th, 2018, (the "Agreement") between Orosur's 100% subsidiary
Minera Anza S.A ("Minera Anza ") and Minera Monte A guila SAS
("Monte A guila"), a 50/50 joint venture between Newmont
Corporation ("Newmont") (NYSE:NEM, TSX:NGT), and Agnico Eagle Mines
Limited ("Agnico") (NYSE:AEM, TSX:AEM).
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 Ltd and a qualified person as defined by
National Instrument 43-101.
Orosur Mining 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 20% of total submitted samples being blanks, repeats
or Certified Reference Materials (CRMs).
Samples are sent to the Medellin preparation facility of ALS
Colombia Ltd, and then to the ISO 9001 certified ALS Chemex
laboratory in Lima, Peru.
30 gram nominal weight samples are then subject to fire assay
and AAS analysis for gold with gravimetric re-finish for overlimit
assays of >10g/t. ICP-MS Ultra-Trace level multi-element
four-acid digest analyses is 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
exploration plans in Colombia and the funding from Monte Águila of
those plans, Monte Águila's decision to continue with the
Exploration and Option agreement, the ability for Loryser to
continue and finalize with the remediation in Uruguay, the ability
to implement the Creditors' Agreement successfully as well as
continuation of the business of the Company as a going concern and
other events or conditions that may occur in the future. 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 implementation 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. 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, those as described in Section "Risks Factors" of the MDA
and the Annual Information Form. 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDBKOBKDBKBDNK
(END) Dow Jones Newswires
March 08, 2022 02:00 ET (07:00 GMT)
Orosur Mining (LSE:OMI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Orosur Mining (LSE:OMI)
Historical Stock Chart
From Apr 2023 to Apr 2024
