Orosur Mining Inc (OMI.TSX.L) Colombia update

· Positive assay results from first hole – including 70.50m @ 3.53g/t Au.

· Four additional holes completed; all have intersected wide zones of mineralised breccia.

· Drilling to accelerate with third rig on site.

London, January 25th, 2021. Orosur Mining Inc. (“Orosur” or the “Company”) (TSX/AIM:OMI) , is pleased to announce an update on the progress of Minera Anzá’s drilling campaign currently underway at the Company’s Anzá project in Colombia.

Results of first hole

Diamond drill hole (“DDH”) MAP-072 commenced in mid-November 2020 and was planned largely as a verification hole to confirm the excellent results of previous drilling campaigns. While not a strict requirement, some level of verification is considered prudent when it is likely that older holes, drilled by previous companies may be incorporated into a mineral resource estimate.

Samples from MAP-072 were submitted for assay gradually over November and December, however as previously announced, assay results were delayed due to Covid-19 related staffing shortages at the ALS Laboratory in Lima, Peru. These delays are expected to continue for the foreseeable future but should not materially impact on operations.

MAP-072 was targeted at a part of the APTA deposit that had previously returned positive results, the nearest and most relevant being MAP-060, which returned an intersection of 25m @ 4.85 g/t Au (previously announced).

MAP-072 intersected two distinct gold bearing horizons (please refer to figure 1 in the attached: http://www.rns-pdf.londonstockexchange.com/rns/6789M_1-2021-1-24.pdf

Figure 1. Drill section, hole MAP-072 *

The first was a thin hanging wall mineralised fault, well above the main breccia zone, returning a weighted average intersection of:

4.1m @ 6.52g/t Au, 29.73g/t Ag and 0.28% Zn from 108m .

The second and more significant horizon was the main breccia zone target. The breccia zone was intersected at a shallower depth than expected, and was as a result, thicker than anticipated at over 110m. The entire breccia zone is mineralised, demonstrating multiple stacked veins, substantial silicification and the presence of metallic sulphides, often massive.

Gold mineralisation across the width of the breccia zone varies from multiple narrow, high grade veins, interspersed with lower grade mineralised halos.

The weighted average intersections across the breccia are reported as:

5.90m @ 4.55g/t Au, 2.74g/t Ag and 0.30% Zn from 171.1m, and

70.50m @ 3.53g/t Au, 9.33g/t Ag and 1.62% Zn from 184.80m

These wider intersections contained several narrower zones of higher grade, with full details detailed below in Table 1.

(* Intersections are reported as down-hole widths, not true widths. The Company does not yet have sufficient drilling information to accurately calculate true widths of drill hole intersections)

Additional holes completed

Four additional holes have been completed (DDH MAP-073,074,075,076) with all samples submitted for analysis.

Whilst assay results are likely to continue to be delayed for the foreseeable future, all four holes recorded wide intersections of the breccia zone target, with stacked veins, pervasive silicification and development of sulphide mineralisation.

One of the holes just completed, MAP-075, has been drilled some 90m downdip of the herein announced MAP-072 (figure 1) and has visually intersected over 100m of the target breccia zone.

Drilling to accelerate.

The original drilling plan at APTA was for a small program of roughly 2,300m over eight holes – a program designed to provide a preliminary assessment of the potential of APTA, before committing to a larger program should the results of the preliminary program be deemed positive. To this date, over 1,600m have been completed.

However, the nature of the mineralisation at APTA is such that the main breccia zone and associated veins and sulphides are readily visible. Therefore, while the situation with delayed assay results continues, the visual indications seen in core are deemed to be sufficiently positive that the decision has been taken to expand and accelerate the current drill campaign.

To this end, a third rig has been mobilised to site, with a view to commencing work in late January.

The Company will also begin the process of expanding its local infrastructure and operating capacity to allow for the introduction of additional rigs at short notice, should this be deemed beneficial to the project.

Orosur CEO Brad George commented:

“Clearly the assays from MAP-072 are very positive, and a resounding verification of previous excellent work. Delays in assay results are unfortunately beyond the Company’s control and may be a factor for some time yet, however in the meantime, visual indications are positive and provide the team sufficient confidence to ramp up our drilling efforts in order to move APTA forward as quickly as possible.”


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned
Stockmarket News
Share Talk
Share via
Copy link
Malcare WordPress Security