Orosur reports strong drilling results from Anza Project
By Josh White
Date: Monday 09 Dec 2024
(Sharecast News) - Orosur Mining updated the market on its flagship Anzá Project in Colombia on Monday, highlighting strong drilling results and the completion of its acquisition of the project's former joint venture partner, Minera Monte Aguila (MMA).
The AIM-traded firm said the acquisition expanded the project area significantly, from about 176 square kilometres to roughly 400 square kilometres, consolidating ownership and extending exploration potential.
Recent drilling at the Pepas Prospect, located over 10 kilometres north of the project's central base at APTA, had yielded promising results.
The second hole of the current programme, PEP013, intersected 77.3 metres at 7.68 grams of gold per tonne from surface, including higher-grade zones such as 18.75 metres at 11.02 grams per tonne and 16.8 metres at 13.29 grams per tonne.
That followed strong results from the first hole, PEP012, which returned 66.75 metres at 5.64 grams of gold per tonne from the surface.
The board said the results confirmed significant gold mineralisation in the area, and provided further insights into the orientation and structure of the deposit.
It said the ongoing drill programme was designed to evaluate the continuity of gold mineralisation and refine the geological model.
Hole PEP014 had been completed, with assays pending, while PEP015 had been drilled and samples dispatched for analysis.
Preparation was underway for PEP016, which would test downdip extensions to explore the broader potential of the Pepas mineralisation.
The board said the Anzá Project benefitted from its strategic location 50 kilometres west of Medellín, with infrastructure including all-weather road access, water, power, and a large exploration camp.
"Results from PEP013 are little short of exceptional in terms of thickness and grade, especially from surface," said chief executive officer Brad George.
"But of equal importance is the information this hole has provided in relation to the form and orientation of the Pepas mineralisation.
"A few more like this and perhaps we can then start to step out and define its size."
At 0934 GMT, shares in Orosur Mining were up 26.39% at 6.8p.
Reporting by Josh White for Sharecast.com.
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