Orosur Mining reports positive drill results from Anza Project
By Josh White
Date: Friday 13 Dec 2024
(Sharecast News) - Orosur Mining reported positive drill results from its ongoing exploration at the Anzá Project in Colombia on Friday, which is now wholly owned by the company following its recent acquisition of all shares from former joint venture partner Minera Monte Aguila.
The AIM-traded firm said the project, 50 kilometres west of Medellín, benefitted from robust infrastructure including all-weather road access, water, power, and a large exploration camp.
It said the latest results focussed on the Pepas prospect, more than 10 kilometres north of the project's central base at APTA.
Assay data from the third hole, PEP014, revealed a composite intersection of 75.1 metres at 5.58 grams of gold per tonne from surface, including high-grade subintervals of 11.5 metres at 8.34 grams per tonne and 13.95 metres at 13.68 grams per tonne.
The drill hole intersected mineralised tuffs from the surface, and encountered the target basement fault at 75 metres, terminating at 78 metres.
Orosur said the Pepas drilling programme started in November, aiming to confirm and expand upon previous high-grade results from earlier drilling conducted by Minera Monte Aguila in 2022.
Holes PEP013 through PEP015 successfully intersected the basement fault at predicted locations, supporting the geological interpretation of a southeast-to-northwest mineralisation trend.
Assay results for PEP015 were pending, while drilling of PEP016 was ongoing to test mineralisation and structure further southwest and down dip.
"Results from PEP014 continue the story that there is something at Pepas," said chief executive officer Brad George .
"Work to date has been very geologically focussed in trying to define trends and we now think we have some inkling so we look forward to progressing our drill programme and developing this picture."
At 0947 GMT, shares in Orosur Mining were up 8.33% at 7.8p.
Reporting by Josh White for Sharecast.com.
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