TIDMOMI
RNS Number : 2088Q
Orosur Mining Inc
27 June 2022
Orosur Mining Inc. - Colombia update
-- Assays from five additional holes - MAP-101 to 105.
-- Results generally reflect lower levels of gold anomalism but
high-grade zinc and copper evident at depth, beyond the capacity of
the existing rig fleet.
-- Focus shifted to northern prospects - two rigs drilling at
Pepas and one at Pupino with another rig being mobilised.
-- First assay results from Pepas expected in July.
For the full PDF version of the announcement with Figures 1-5
included, please refer to:
http://www.rns-pdf.londonstockexchange.com/rns/2088Q_1-2022-6-26.pdf
London, June 27th, 2022 . Orosur Mining Inc. ("Orosur" or the
"Company") (TSX/AIM:OMI), is pleased to announce an update on the
progress of exploration activities at the Company's flagship Anzá
project in Colombia.
Exploration work at Anzá is under the operational control of the
Company's Joint Venture partner, Minera Monte Águila SAS ("Monte
Águila"). Monte Águila is a 50/50 joint venture between Newmont
Corporation ("Newmont") (NYSE:NEM, TSX:NEM) and Agnico Eagle Mines
Limited ("Agnico") (NYSE:AEM, TSX:AEM) and is the vehicle by which
these two companies jointly exercise their rights and obligations
with respect to the Exploration Agreement with Venture Option
("Exploration Agreement") over the Anzá Project.
Assay results from the final five holes drilled at the APTA
prospect have been received. In general, the results reflect lower
levels of gold anomalism compared to previously drilled holes, but
show some high-grade base metal results, similar to intersections
from previous drilling, adding support to the theory of hybrid
volcanogenic massive sulphide (VMS)/intermediate-sulfidation
epithermal system.
While few significant gold intercepts were recorded, this was
not wholly unexpected as these holes were drilled to better define
the geological and structural context of the APTA environment
whilst the Company awaited mapping, sampling, geophysics and land
access to be finalised on the northern prospects.
These results would suggest that while APTA remains a highly
prospective target, with multiple thick and high-grade
intersections having been previously recorded, it is also complex
and has substantial depth extent that is beyond the capacity of the
current drill rig fleet to test.
As previously announced on April 25(th) , 2022, drilling ceased
at APTA in late March with the remaining Colombian rig being
mobilised to the Pepas prospect at the far northern extent of the
project area. The focus of the scout drilling program in the NE of
the project area is to test several anomalous targets identified
through surface mapping and sampling, geophysics, and geochemistry
- it is planned to have four rigs operating in this area, with two
each at Pepas and Pupino.
Assay Results
Assay results from the final five holes drilled at APTA have
been received from the ALS laboratory in Lima, Peru (MAP-101 to
105). Key intersections from these holes are noted below:
MAP-102 4.85m @ 0.51g/t Au, 1.24g/t 0.16% Zn
MAP-103 0.75m @ 3.30g/t Au, 0.86g/t Ag, 0.14% Zn
0.95m @ 4.90g/t Au, 3.49g/t Ag, 3.39% Zn
MAP-104 5.35m @ 2.62g/t Au, 2.61g/t Ag, 1.04% Zn
0.50m @ 22.80g/t Au, 13.95g/t Ag, 0.52%Zn
MAP-105 2.50m @ 3.30g/t Au, 1.61g/t Ag, 0.06% Zn
9.25m @ 1.77g/t Au, 4.63 g/t Ag, 5.33% Zn
9.70m @ 0.17g/t Au, 2.59 g/t Ag, 13.88% Zn, 0.91% Cu
Full results from these holes are noted below.
From To Interval Au Ag Zn Cu
Hole Number (m) (m) (m) (g/t) (g/t) (%) (%)
MAP101 No significant results
------------------------------------------------------------
MAP102 219.60 221.00 1.40 0.46 6.81 0.10 0.01
------- ------- --------- ------- ------- ------ -----
MAP102 243.05 247.90 4.85 0.51 1.24 0.16 0.02
------- ------- --------- ------- ------- ------ -----
MAP102 289.75 341.95 52.20 0.23 1.69 0.04 0.01
------- ------- --------- ------- ------- ------ -----
MAP103 205.90 216.35 10.45 0.49 0.48 0.03 -
------- ------- --------- ------- ------- ------ -----
including 214.95 215.70 0.75 3.30 0.86 0.14 -
------- ------- --------- ------- ------- ------ -----
MAP103 258.95 283.65 24.70 0.37 11.76 0.32 0.03
------- ------- --------- ------- ------- ------ -----
including 258.95 260.70 1.75 0.83 15.33 1.48 0.08
------- ------- --------- ------- ------- ------ -----
including 264.10 264.75 0.65 0.27 10.75 2.28 0.47
------- ------- --------- ------- ------- ------ -----
including 266.20 268.35 2.15 0.92 43.14 0.44 0.02
------- ------- --------- ------- ------- ------ -----
MAP103 302.60 303.55 0.95 4.90 3.49 3.39 0.17
------- ------- --------- ------- ------- ------ -----
MAP103 328.80 335.15 6.35 0.50 0.45 0.15 -
------- ------- --------- ------- ------- ------ -----
including 329.50 330.35 0.85 1.47 0.94 0.34 0.02
------- ------- --------- ------- ------- ------ -----
MAP103 581.10 584.10 3.00 0.34 2.90 3.92 0.45
------- ------- --------- ------- ------- ------ -----
including 581.60 583.05 1.45 0.55 4.62 6.63 0.55
------- ------- --------- ------- ------- ------ -----
MAP103 637.95 658.80 20.85 0.42 4.63 0.07 0.01
------- ------- --------- ------- ------- ------ -----
including 651.20 651.90 0.70 1.40 12.15 0.10 0.01
------- ------- --------- ------- ------- ------ -----
MAP104 75.00 93.20 18.20 0.55 2.34 0.21 0.02
------- ------- --------- ------- ------- ------ -----
including 83.00 83.70 0.70 2.86 3.51 0.02 -
------- ------- --------- ------- ------- ------ -----
including 89.10 90.05 0.95 2.11 6.89 1.08 0.12
------- ------- --------- ------- ------- ------ -----
MAP104 188.90 194.25 5.35 2.67 2.61 1.04 0.04
------- ------- --------- ------- ------- ------ -----
including 188.90 190.45 1.55 8.37 5.61 0.20 0.03
------- ------- --------- ------- ------- ------ -----
including 188.90 189.40 0.50 22.80 13.95 0.52 0.07
------- ------- --------- ------- ------- ------ -----
including 192.55 194.25 1.70 0.39 2.28 3.10 0.10
------- ------- --------- ------- ------- ------ -----
MAP105 278.70 281.20 2.50 3.30 1.61 0.06 -
------- ------- --------- ------- ------- ------ -----
including 278.70 279.80 1.10 5.97 2.42 0.02 -
------- ------- --------- ------- ------- ------ -----
MAP105 305.25 314.50 9.25 1.77 4.63 5.33 0.39
------- ------- --------- ------- ------- ------ -----
including 309.55 310.70 1.15 3.14 4.18 4.56 0.72
------- ------- --------- ------- ------- ------ -----
including 312.65 314.50 1.85 2.73 5.63 10.91 0.70
------- ------- --------- ------- ------- ------ -----
including 312.65 313.60 0.95 4.41 5.55 11.43 0.96
------- ------- --------- ------- ------- ------ -----
MAP105 320.35 327.70 7.35 0.32 8.53 6.17 0.82
------- ------- --------- ------- ------- ------ -----
including 323.70 324.75 1.05 0.34 23.45 16.53 2.29
------- ------- --------- ------- ------- ------ -----
MAP105 475.40 485.10 9.70 0.17 2.59 13.88 0.91
------- ------- --------- ------- ------- ------ -----
including 478.85 484.80 5.95 0.15 3.58 18.04 1.40
------- ------- --------- ------- ------- ------ -----
Table 1. Drill Intercepts.
Figure 1. Plan of last five holes
Figure 2. Plan, all holes since 2020
MAP-101
MAP-101 was drilled well to the north of all previous drilling
and angled away to a NW azimuth. The primary objective of the hole
was to intersect and thus confirm the location of the northward
continuation of the Aragon fault.
The hole was successful in these objectives, but no substantial
mineralisation was intersected.
MAP-102
MAP-102 was drilled to test the northern extension of
higher-grade mineralisation previously intersected in hole MAP-089.
While substantial widths of mineralisation were intersected, these
were of lower grade, and somewhat similar to the nearby hole
MAP-097.
Figure 3. Section MAP-102
MAP-104
MAP-104 was drilled into a gap between the previously defined
north and south sections of the APTA zone. This is a zone where the
primary structures change direction and thus it was necessary to
better define this section.
Some narrow high-grade gold and base metal veins were
intersected.
Figure 4. Section MAP-104
MAP-103,105
MAP-103 and 105 were drilled to test the continuity of
mineralisation previously intersected in MAP-098, but also to push
downward to test stratigraphy to the limit of the available rigs.
Both holes were drilled from the west, and so designed more as
stratigraphic holes.
Reasonable intersections of gold mineralisation were
intersected, however of most interest was the intersection in
MAP-105 of a likely VMS system at depth with high grade zinc and
copper mineralisation, including 5.95m @ 18% Zn and 1.4% Cu from
478m.
Figure 5. Section MAP-103 & MAP-105
Other Drilling
As previously announced on April 25(th) , 2022, drilling
activities ceased at APTA in March, with the remaining rig
mobilised to the northern Pepas prospect.
Extensive programs of mapping, sampling and geophysics had been
undertaken along the northern extent of the Aragon fault and
associated structures over previous months, with highly anomalous
geochemical and geophysical responses being recorded. Access to the
area however was challenging due to terrain issues and substantial
logistical infrastructure and support was required to be developed
before rigs could be mobilised.
Drilling commenced at Pepas with one rig in April, with a second
rig mobilised to Pepas in recent weeks. The Company is also
informed that a third rig has commenced drilling at Pupino, with a
fourth in the process of being mobilised to commence at Pupino in
the near term.
Core from the first hole at Pupino have been submitted to the
laboratory for assay and results are expected soon.
Orosur CEO Brad George commented:
"This last batch of holes were largely focused on resolving
stratigraphic and structural issues at APTA, while waiting for
permitting and access to be developed at the highly prospective
northern prospects of Pepas and Pupino. APTA has been the focus of
attention for Waymar, Orosur and Monte Águila since 2012 with the
remaining 20km of strike of the Aragon Fault tantalisingly out of
reach. APTA proved the region is fertile, and field mapping in the
north suggested this could continue, but it was only in April that
we were finally able to move rigs onto these targets. We await with
some anticipation the results of recent drilling at Pepas and
Pupino and look forward to updating shareholders shortly."
For further information visit www.orosur.ca , follow on twitter
@orosurm or 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 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 is now considered to be in
the public domain.
Drill Hole Details - 2020/2021 Programme*
Hole ID Easting Northing Elevation Dip Azimuth
(m) (m) asl (m) (deg) (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
-------- --------- ---------- ------- --------
MAP-101 400286 694890 967 -50 331
-------- --------- ---------- ------- --------
MAP-102 400095 694426 990 -61.5 303.5
-------- --------- ---------- ------- --------
MAP-103 399793 694730 1162 -65.5 123.3
-------- --------- ---------- ------- --------
MAP-104 399982 694294 1015 -60 297
-------- --------- ---------- ------- --------
MAP-105 399793 694730 1162 -64 113
-------- --------- ---------- ------- --------
* Coordinates WGS84, UTM Zone 18
About Orosur Mining Inc.
Orosur Mining Inc. (TSX-V: OMI; AIM: OMI) is a minerals explorer
and developer focused on identifying and advancing projects in
South America. The Company currently operates in Colombia, Brazil,
Argentina and Uruguay.
About the Anzá Project
Anzá is a gold exploration project, comprising three exploration
licences, four exploration licence applications, and several small
exploitation permits, totalling 207.5km(2) 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 7(th) , 2018, as announced on
September 10(th) , 2018, 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 Inc. 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 Global
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 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
MD&A 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.
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