TIDMOMI
Orosur Mining Inc. ("Orosur" or "the Company") (TSX: OMI) (AIM:
OMI) has filed a technical report prepared by Andes GMS SPA in
accordance with National Instrument 43-101 Standards for Mineral
Projects ("NI 43-101") on the Anzá gold exploration project
("Anzá") in Colombia (the "Report"). To view the full report,
please visit www.orosur.ca/operations/technical-reports.
Anzá is an advanced exploration project and the Report includes
a review of the regional geology, local geology, types and degree
of the mineralization, exploration history, metallurgical testing
and drilling results and represents an update from the technical
report prepared in May 2010 by Bargmann & Platten of Snowden
Mining Industry Consultants.
OVERVIEW
-- Total project area of 105 km² (10,615 hectares) located 50km west of
Medellin, Colombia with access via predominantly paved roads
with a
shorter gravel road leading immediately into the project area.
The
site has existing infrastructure including water, power, roads
and a
camp.
-- 100% owned with no option fees or commitments, and includes existing
environmental and mining permits relating to two gypsum mines
located
on the property and mined since 1991 by a thrid party.
-- Located on the eastern side of the Cordillera Occidental of Colombia
in the Metallogenic Belt of the Middle Cauca, which mainly hosts
two
types of gold mineralization: a porphyry style and/or an
epithermal
type with a strong relationship with the Cauca-Romeral fault
zone,
which constitutes a suture zone associated with the collision of
the
Choco Volcanic Arc. The most important gold mining districts of
the
country are located in this region.
-- Magnetometry, induced polarization, radiometry, soil and rock sampling
surveys have all been completed leading to the identification of
5
initial targets within the property: APTA, Charrascala,
Guaimarala,
Jesuitas and La Cejita. APTA has been drilled and initial
drilling has
been conducted at Charrascala.
-- Initial metallurgical and rock density test work completed in mid-2016
provided average gold recoveries ranging from 95.9% - 96.1%
utilising
a combination of gravity concentration, flotation and
cyanidation
processing, which is comparable to the metallurgical recoveries
of the
development projects and producing mines in the region.
-- Historic diamond drilling of 17,409m consisting of 53 holes was
completed during 2011 to 2012 by Waymar Resources, a company
and
assets acquired by Orosur in mid-2014.
-- This drilling confirmed that gold and sulphide mineralization are
associated with a structurally controlled hydrothermal system
(fault
and breccia zones). Drilling also identified three units as
carriers
of gold mineralization: silicified matrix- supported breccia
with
pyrite / sphalerite / chalcopyrite disseminated in the matrix
and
veins; fault zones with similar sulphides; and laminated
mudstone or
tuff cut by quartz-sulphide veins.
-- Notable interscepts from the 2011 to 2012 drill campaign include:
Hole From To Intercept Au Ag Zn
# m m m g/t g/t %
MAP-11 213.0 219.0 6.0 18.26 1.95 0.35
including 217.5 219.0 1.5 72.30 6.90 0.93
MAP-20 145.0 186.0 41.0 3.85 1.39 1.25
including 171.3 177.0 5.7 19.84 3.94 1.66
MAP-21 224.0 242.0 18.0 14.14 2.05 2.83
including 225.0 229.4 4.4 45.62 5.47 10.59
252.0 253.0 1.0 10.85 1.80 0.67
MAP-29 183.0 194.9 11.9 10.57 2.40 1.61
including 185.0 187.0 2.1 40.25 4.85 4.64
MAP-33 157.1 179.5 22.4 10.42 1.87 1.56
including 165.0 170.8 5.8 29.49 3.37 2.81
MAP-36 198.6 227.5 28.9 3.88 1.68 0.43
including 205.5 217.5 12.0 8.83 2.65 0.59
MAP-38 123.4 124.5 1.1 15.40 3.60 1.94
172.0 212.5 40.5 14.09 3.82 1.95
including 179.5 186.0 6.5 70.99 6.34 0.12
including 184.6 186.0 1.4 176.00 15.20 0.39
including 202.0 205.4 3.4 20.89 9.71 4.75
MAP-43 65.5 68.6 3.1 7.66 73.04 0.68
167.5 231.5 64.0 1.88 1.88 0.70
including 209.0 214.0 5.0 9.07 3.40 0.70
MAP-47 105.0 118.3 13.3 2.24 316.25 1.00
including 106.0 110.5 4.5 4.69 768.89 2.34
MAP-48 181.0 195.7 14.7 40.37 9.30 3.41
including 185.5 195.7 10.2 58.03 13.16 4.85
including 187.6 189.5 1.9 219.00 29.50 6.55
-- Orosur commenced its own diamond drilling programme in late 2017
-- Orosur completed 18 diamond drill holes totalling 6,314m at the APTA
target, improving and validating the geological model.
Drilling
extended the mineralized zone a further 95m down dip, to a total
depth
of 400m.
-- Drilling to date has encountered a number of notable intercepts over
20 g/t Au, including:
Hole From To Intercept Au Ag Zn
# m m m g/t g/t %
MAP_11 217.5 219.0 1.5 72.30 6.90 0.93
MAP_20 172.3 175.5 3.2 22.28 4.55 1.98
Including 172.3 174.0 1.7 32.60 5.50 1.82
MAP_21 225.0 231.6 6.6 35.24 5.00 6.97
Including 226.3 228.0 1.7 61.40 8.20 4.03
Including 228.0 229.4 1.4 51.50 5.10 1.80
MAP_28 220.5 221.7 1.2 29.20 8.10 0.58
MAP_29 185.0 187.0 2.0 40.25 4.85 4.64
Including 186.0 187.0 1.0 54.20 6.00 3.03
MAP_33 166.5 170.8 4.3 37.09 3.99 2.93
Including 167.5 169.0 1.5 79.90 7.70 3.15
MAP_36 213.2 214.5 1.3 23.00 4.40 0.63
MAP_38 179.5 186.0 6.5 70.99 6.34 0.12
Including 181.0 182.5 1.5 99.90 7.50 0.03
Including 184.6 186.0 1.4 176.00 15.20 0.39
202.0 205.4 3.4 20.89 9.71 4.75
Including 203.5 204.5 1.0 28.30 12.50 5.85
MAP_48 187.6 194.0 6.4 91.62 20.28 7.52
Including 187.6 189.5 1.9 219.00 29.50 6.55
Including 190.5 191.5 1.0 89.10 15.20 16.25
MAP_51 201.6 203.3 1.7 37.00 5.40 13.80
303.5 305.0 1.5 22.90 8.40 6.06
MAP_054 145.7 148.9 3.2 24.92 1.40 2.40
Including 145.7 146.7 1.0 37.96 1.30 0.70
MAP_062 237.7 238.50 0.80 25.84 7.40 0.07
MAP_070 183.0 184.0 1.0 23.66 3.60 0.04
257.0 259.0 2.0 22.04 4.65 4.23
Including 257.0 258.0 1.0 28.93 5.30 3.59
-- As part of this programme 5 holes, comprising 3,045m of diamond
drilling, were completed at Charrascala, which tested the strong
gold
soil geochemical anomalies along an 800m north-south
corridor.
Drilling results included intersections of 3.43 g/t Au and 30.60
g/t
Ag over 1.5m, and 2.62 g/t Au and 14.30 g/t Ag over 0.90m;
-- Exploration Agreement in place with Newmont Mining announced in late
2018.
Qualified Person
The Report has been prepared by or under the supervision of
independent geologist Mauricio Rubio (AusIMM), a Qualified Person
under NI 43-101.
Andes GMS SPA have conducted a site visit allowing it to audit
the Company's field procedures, sample handling and preparation
techniques, analytical procedures, results and Quality Assessment /
Quality Control ("QAQC") systems (check assaying) that it
implements. Andes confirms that Orosur has undertaken its
exploration programmes using industry best practices.
About Orosur Mining Inc.
Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious metals
developer and explorer focused on identifying and advancing gold
projects in South America. The Company operates in Colombia and
Uruguay.
For further information, please contact:
Orosur Mining Inc
Ignacio Salazar, Chief Executive Officer
Ryan Cohen, VP Corporate Development & Interim CFO
info@orosur.ca
Tel: +1 (778) 373-0100
Cantor Fitzgerald Europe - Nomad & Joint Broker
David Porter/Keith Dowsing
Tel: +44 (0) 20 7894 7000
Numis Securities Limited - Joint Broker
John Prior / James Black / Paul Gillam
Tel: +44 (0) 20 7260 1000
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 Ryan Cohen, VP
Corporate Development and Interim CFO of the Company (responsible
for arranging release of this announcement on behalf of the
Company) on: +1 (778) 373-0100.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190110005487/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
January 10, 2019 10:59 ET (15:59 GMT)
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