Orosur Mining Inc. [OMI-TSX, AIM] provided an update on the progress of exploration activities at the company’s flagship Anza project in Colombia.
The project is the subject of an exploration agreement with venture option with Colombian company Minera Monte Aguila (MMA). MMA is itself a 50:50 JV between Newmont Corp. [NGT-TSX; NEM-NYSE] and Agnico Eagle Mines Ltd. [ AEM-TSX, NYSE] and is the Colombian vehicle by which these two companies jointly exercise their rights and obligations with respect to the exploration agreement over the project.
MMA is the operator of the Project after exercising its right to assume operational control in the second half of 2021.
Assay results from four additional diamond drill holes (PEP004, PEP005, PEP007 and PUP001) from the Pepas and Pupino prospects have been received.
Both the Pepas and Pupino prospects are located in the northern region of the Anza Prospect, roughly 12 km and 8km respectively north northeast from the central APTA prospect that had seen most drilling at Anza up until early 2022.
Key intersections include drill hole PEP004 that returned 36.85 metres of 2.13 g/t gold and 3.74 g/t silver, including 2.00 metres of 12.70 g/t gold and 2.78 g/t silver, including 4.25 metres of 6.30 g/t gold and 5.11 g/t silver. Hole PEP007 returned 80.55 metres of 3.05 g/t gold and 2.91 g/t silver, including 41.75 metres of 5.24 g/t gold and 2.82 g/t silver.
Orosur CEO Brad George commented: “PEP001 was clearly a spectacular result, but being only the first hole, caution was warranted. It is encouraging therefore that further holes have confirmed this first result and we eagerly await results from better positioned holes that are currently underway to get a better sense of the scale of what appears a most exciting prospect.”
Anza is a gold exploration project, comprising three exploration licences, four exploration licence applications, and several small exploitation permits, totaling 207.5 km2 in the prolific Mid-Cauca belt of Colombia.
The Anza Project is currently wholly owned by Orosur via its subsidiary, Minera Anza S.A.
The project is located 50 km west of Medellin and is easily accessible by all-weather roads and boasts excellent infrastructure including water, power, communications and large exploration camp.
Gold intersections are reported using a lower cut-off of 0.3 g/t gold over 3 metres.