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Orosur drills more encouraging gold grades at Anza, updates on San Gregorio

Validation of the geological model at APTA has allowed Orosur to broaden the regional scope of exploration drilling with higher expectations of success

Dollars and gold
Orosur has a long track record of gold production and cash flow at San Gregorio

Orosur Mining Inc (LON:OMI, CVE:OMI) continues to intersect good gold mineralisation in drilling at the APTA deposit, one of five identified target areas in the Anzá project in Colombia.

Notable results to date from 17 intercepts in seven drill holes include 17.76 grams per tonne gold over 5.32 metres, 4.89 grams over 13.9 metres, 5 grams over 23 metres and 4.86 grams over 25 metres.

READ: Orosur Mining prioritising profit over production at San Gregorio

“I am delighted to report a strong set of step-out drilling results from our high grade APTA project,” said Orosur chief executive Ignacio Salazar.

“These results continue intercepting high grade gold mineralisation over multiple significant intervals and have extended the mineralised zone a further 75 metres down dip, 50 metres up dip and 85 metres along strike to the north. APTA high grade gold mineralised intercepts now cover a strike extent of approximately 1.5km and depth extent of 275 metres and remains open in all directions. There are 5 more holes drilled in APTA still pending assay results and we plan to drill up to a further 6 holes at Charrascala in the coming weeks. The new drilling planned at Charrascala seek to add an additional mineralised body in an area that is approximately 3 km north-south by 1 km east-west.”

Given the validation of APTA’s geological model with recent drilling, the last phase of this exploration campaign will focus on Charrascala with up to six planned diamond holes to drill test its potential.

As a consequence, there will be a reduction of planned infill drilling at APTA, which will result in approximately 10,000 metres of drilling in total for this exploration campaign, compared to the 15,000 metres previously announced.

WATCH: Orosur Mining 'delighted' by results and progress so far at Anza in Colombia

The reduction in drilling planned for the remainder of this exploration programme will allow increased investment at Charrascala, including additional geochemical work, road access, drilling platform preparation and rig displacements.

Orosur is also adding surface exploration activities, including mapping and sampling, across the broader Anzá project. All permits required to complete this programme, including drilling permits at Charrascala, have now been granted.

Meanwhile, at the San Gregorio mine in Uruguay, the block model which was finalised in the second quarter of fiscal year 2018 showed that the mineralised structure is less economically viable at depth and to the east due to reductions in both ore grade and thickness.

Orosur optimised the mine plan for SGC, but still expects higher unit costs in the third quarter to improve in the fourth quarter when higher grade zones will once again be mined.

 

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Price: 21.1 GBX

AIM:OMI
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